{"id":1185,"date":"2019-09-29T14:04:51","date_gmt":"2019-09-29T19:04:51","guid":{"rendered":"http:\/\/www.mankatobankruptcy.com\/blog\/?p=1185"},"modified":"2019-09-18T14:16:03","modified_gmt":"2019-09-18T19:16:03","slug":"finishing-your-repayment-plan-chapter-13","status":"publish","type":"post","link":"https:\/\/www.mankatobankruptcy.com\/blog\/finishing-your-repayment-plan-chapter-13\/","title":{"rendered":"Finishing Your Repayment Plan and What Happens after Chapter 13 Bankruptcy in Redwood Falls, MN"},"content":{"rendered":"<p>There are many reasons why individuals might accumulate debt that they find unmanageable with their current income. Debt from even the most common sources such as credit cards, medical bills, mortgages, and car loans can escalate with little warning. If you are finding it impossible to meet every debt payment on time each month, or if your budget has been pushed to extremes, it may be time to consider bankruptcy as a debt relief possibility. With the help of Behm Law Group Ltd., you can build a strong and successful case for Chapter 13 bankruptcy in Redwood Falls, MN, and receive long-term, effective debt relief.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"\/bankruptcy-chapter13.php\">Chapter 13 bankruptcy<\/a> works to reorganize your debts into a manageable three- to five-year repayment plan that is suited to your income and overall financial situation. With the guidance of a Behm attorney, you\u2019ll create a repayment plan proposal with attention to your income and in fairness to your creditors.<\/p>\n<p>&nbsp;<\/p>\n<p>When this repayment plan is accepted by the court, you\u2019ll begin your repayment period, which means you\u2019ll make monthly payments to your bankruptcy trustee (who is assigned to your case at the beginning of your petition). Your repayment plan may be adjusted at any point during that period based on income changes, such as a new job. Any significant changes to your income status must be reported to your trustee and to your attorney or you risk having your case dismissed.<\/p>\n<p>&nbsp;<\/p>\n<p>But what happens when your repayment plan period ends and you\u2019ve paid back the debt your plan requires? The process afterward involves basic confirmation and lots of paperwork, but luckily you, as a filer, won\u2019t have many responsibilities during this time.<\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong>Trustee Review<\/strong>: First, your trustee reviews your case to confirm that you\u2019ve met the \u201c<a href=\"https:\/\/www.nolo.com\/legal-encyclopedia\/chapter-13-bankruptcy-confirmation-hearing.html\">Order Confirming the Chapter 13 Case<\/a>\u201d requirements listed in your repayment plan proposal. This can take up to 90 days, depending on the complexity of the case. Once confirmed, the trustee creates a report.<\/li>\n<li><strong>Trustee Report<\/strong>: The trustee report causes the court to issue you a \u201cCertification of Eligibility for Chapter 13 Discharge,\u201d which you must return signed. This form allows for the discharge of any remaining debts and allows for the closure of your case.<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p>In order for the court to finalize your case, you\u2019ll have to complete a financial management course in a timely fashion (learn more about the course you must take <a href=\"\/blog\/2018-03-09\/details-on-the-credit-counseling-requirement-for-bankruptcy-in-marshall-mn\/\">here<\/a>). Once the review and report have been completed and the certificate has been signed, your Chapter 13 bankruptcy case is finished, and you begin your life free of the debts involved in your case.<\/p>\n<p>&nbsp;<\/p>\n<p>To learn more about filing for Chapter 13 bankruptcy in Redwood Falls, MN, contact Behm Law Group Ltd. today at <a href=\"tel:507-387-7200\">(507) 387-7200<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are many reasons why individuals might accumulate debt that they find unmanageable with their current income. Debt from even the most common sources such as credit cards, medical bills, mortgages, and car loans can escalate with little warning. If you are finding it impossible to meet every debt payment on time each month, or [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[30],"tags":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finishing Your Repayment &amp; What Happens After Chapter 13<\/title>\n<meta name=\"description\" content=\"Learn how to finish your repayment plans when filing for chapter 13 bankruptcy and see what happens next with the help of Behm Law Group. 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