' Chapter 13 Bankruptcy Process Changes - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Changes Could Be Coming to the Chapter 13 Bankruptcy Process

Florida consumers may not be aware that, for some time now, the U.S. Bankruptcy Court has strived for uniformity in the bankruptcy process. Specifically, the Judicial Conference Advisory Committees on Bankruptcy and Civil Rules have looked at this very issue with regard to the Chapter 13 bankruptcy process. Their discussions could result in a national uniform standard for Chapter 13 plans.

Standardized forms and processes could make the review of plans less difficult for everyone involved. However, other significant changes could present a new set of challenges to creditors. Those proposals may benefit those seeking bankruptcy protection. For instance, filers would be able to request lien avoidance in their Chapter 13 plan. Currently, many jurisdictions require the filer to seek lien avoidance through a separate motion to the court.

Other proposed changes address claims to be filed by secured and unsecured creditors alike. The time frame for filing those claims would be reduced to 60 days from the filing date of the petition. The current time limit is 90 days. Petitions would need to be more timely reviewed by creditors, but this could also identify issues early on and help eliminate problems later.

Chapter 13 filers may also need to better identify their goals with the plan up front since the process may be streamlined. The ultimate goal is to make the process more user-friendly for filers and reduce errors that could cause unnecessary delays in getting a reorganization plan approved. Florida consumers that are contemplating filing a Chapter 13 bankruptcy may benefit from keeping on top of any changes that occur in the process to ensure they receive the maximum benefit from any repayment plan they propose to the court.

Source: akronlegalnews.com, Changes in the works for Chapter 13 bankruptcy filings, Sherry Karabin, Nov. 15, 2013

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Can You File Bankruptcy with Equity in Your Home?

For many individuals facing financial hardship, their home represents their most significant asset. However, when struggling with overwhelming debt, the...
Read More

Are Trusts Protected from Bankruptcy?

Trusts are powerful estate planning tools. They allow people to protect and distribute their assets according to their wishes. This...
Read More

The Truth About Bankruptcy and Buying a Car

The Truth About Bankruptcy and Buying a Car Bankruptcy often carries a stigma of financial ruin and a bleak future....
Read More

How Do Bankruptcy Lawyers Get Paid?

Bankruptcy can be a stressful and overwhelming experience, but having the right legal representation can make all the difference in...
Read More

Do You Lose Your Home When You File for Bankruptcy?

Filing for bankruptcy can be a daunting prospect, especially when it comes to concerns about losing one's home. Your home...
Read More

Can You File Bankruptcy During a Divorce?

Divorce and bankruptcy are personally difficult and also complex legal processes that can have significant implications for your financial future....
Read More

Can You File Bankruptcy on Restitution?

Facing financial struggles can be overwhelming, especially when debts include complex legal obligations like restitution. What is restitution and how...
Read More

Can You File Bankruptcy After a Judgment?

Receiving a judgment against you in a lawsuit can be a distressing experience. This is especially true if you're already...
Read More

Can Back Taxes Be Included in Bankruptcy?

Dealing with back taxes can cause a lot of stress and financial burden for anyone facing financial hardship. If you're...
Read More

Can an Estate File for Bankruptcy?

Many people wonder whether or not an estate, such as the one left behind after someone passes away, can file...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions