Official Form 113 Chapter 13 Plan

What Is Official Form 113?

This is a legal form that was released by the United States Bankruptcy Court on December 1, 2017 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 113?A: Form 113 is an official form used in Chapter 13 bankruptcy cases.

Q: What is a Chapter 13 Plan?A: A Chapter 13 Plan is a legal document that outlines how a debtor will repay their creditors over a period of time.

Q: What is the purpose of Form 113?A: Form 113 is used to submit the proposed Chapter 13 Plan to the bankruptcy court for approval.

Q: Is it mandatory to file Form 113 in a Chapter 13 bankruptcy case?A: Yes, it is mandatory to file Form 113 in a Chapter 13 bankruptcy case.

Q: What information is required in Form 113?A: Form 113 requires information about the debtor's income, expenses, debts, and proposed repayment plan.

Q: Can the Chapter 13 Plan be modified?A: Yes, the Chapter 13 Plan can be modified with court approval if there is a change in the debtor's financial circumstances.

Q: What happens after filing Form 113 and the Chapter 13 Plan?A: After filing Form 113 and the Chapter 13 Plan, a meeting of creditors will be scheduled, and the plan will be reviewed for approval by the bankruptcy court.

Q: Can creditors object to the Chapter 13 Plan?A: Yes, creditors have the right to object to the proposed Chapter 13 Plan if they believe it doesn't meet the requirements of the bankruptcy code.

Q: What happens if the Chapter 13 Plan is approved?A: If the Chapter 13 Plan is approved, the debtor will be required to make regular payments according to the plan's terms, and upon completion of the plan, the remaining eligible debts may be discharged.