Unlike Chapter 7 bankruptcy where debtors liquidate assets in order to pay off secured debts, Chapter 13 bankruptcy allows the debtor to reorganize their debts and establish a repayment plan. When someone files for Chapter 13 bankruptcy, they will eventually receive a Notice of Chapter 13 Case. There are many details and facts about a Chapter 13 cases that are important for debtors to be aware of, and this notice is a document that clearly explains the details of the case for both the debtor and creditors involved.
Notice of Chapter 13 Case Information
A Notice of Chapter 13 Case is a very important document for both creditors and debtors because it explains the case in detail. This document typically contains the following pieces of information:
- The specifics of the debtor’s repayment plan
- All financial figures and facts in the case
- Details of the confirmation hearing
- Time restraints for when creditors or debtors can file objections
After both sides have received the Notice of Chapter 13, they are allowed to read the details of the case and make any adjustments if they see a problem.
If you have questions about bankruptcy, you need to speak with someone who is experienced in the field. At the DeLadurantey Law Office, LLC, our Milwaukee bankruptcy attorneys are dedicated to helping you get out of debt so you can start rebuilding your credit score. Contact us today by calling 414-377-0518.