Chapter 13 Bankruptcy Procedures | Austin Attorney Robert W. Berry

How A Typical Chapter 13 Bankruptcy Proceeds

Step	When it Happens
1. You complete a pre-bankruptcy credit counseling course approved by the U.S. Trustee.	Prior to filing your bankruptcy petition.
2. You file for Chapter 13 bankruptcy.
3. The automatic stay takes effect. It bars your creditors from taking any actions to collect what you owe.	When you file the bankruptcy petition.
4. The court appoints a Trustee to oversee your case.	Within 30 days after you file the bankruptcy petition.
5. The Chapter 13 Trustee sends you a "notice of commencement" of your case, which usually contains: the date of the meeting of creditors, the date of the confirmation hearing, and the deadline by which creditors must file their claims	Within 30 days after you file the bankruptcy petition
6. You begin making payments under your repayment plan.	30 days after you file the bankruptcy petition.
7. You attend the "Meeting of Creditors" (where the Trustee and any creditors who show up can ask you about information in your papers). A creditor may raise objections to your plan with the hope of getting you to modify it before the confirmation hearing.	Within 40-45 days after you file bankruptcy petition.
8. You file a modified plan, if you wish.	At least 30 days before the confirmation hearing.
9. Creditors file written objections to your plan, if they wish. The Bankruptcy Judge will rule on them at the confirmation hearing.	At least 10 days before the confirmation hearing.
10. The court holds the confirmation hearing and addresses any objections raised by creditors or the Chapter 13 Trustee, and approves your repayment plan.	Courts now hold the confirmation hearing prior to the deadline for creditors to file claims.
11. Each creditors files its "proof of claim" specifying how much the creditor is owed.	Within 90 days after the meeting of creditors.
12. You or the Chapter 13 Trustee may file an objection to a creditor's claim, if you have a reason to object.	As soon as possible after the deadline for creditors to file their claims.
13. The Trustee sends you statements, showing: who has filed claims and for how much how much money has been paid to each creditor the unpaid balance owed to each creditor.	Twice a year, or by request.
14. The court grants your discharge	36 to 60 months after you file if you complete your plan payments (sooner if you choose to pay off your claims in full).

Comparing Chapter 13 and Chapter 7 Bankruptcy

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