Legal Question in Bankruptcy in California
Chapter 13 Bankruptcy
If my Chapter 13 Payment plan after confirmation, provided for a certain number of creditors but some of them did not file timely proofs of claims shouldn't my payment plan last less than 36 months since I would pay the financial equivalent of 36 months of my plan payments to the remaining creditors according to the confirmed plan?
1 Answer from Attorneys
Re: Chapter 13 Bankruptcy
The answer to your question depends on the terms of how your Chapter 13 plan was written. In some cases, the plan might call for you to pay a specific dollar amount over the life of the plan regardless of whether creditors file a timely proof of claim. In other cases, the plan may call for you to pay a percentage of the claims filed. You need to read the terms of the plan and that should answer your question.
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