Legal Question in Bankruptcy in Illinois
For Chapter 11 bankruptcy in my state, who determines how much is deducted from my total income to pay the creditors and how much is allowed for my necessary expenses, such as food, mortgage, utilities, prescriptions, transportation, etc. - the bankruptcy court, or my bankruptcy lawyer?
Asked on 6/11/11, 5:29 pm
1 Answer from Attorneys
Joseph Michelotti
Michelotti & Associates, Ltd.
Usually an individual consumer would file a chapter 7 or chapter 13. In a classic chapter 7 case your necessary expenses do not need to be determined. Chapter 7 is determined by income.
Chapter 13 is a debt repayment plan. You attorney would make an initial determination of your expenses and a trustee would have to approve them
Answered on 7/21/11, 12:38 pm
Related Questions & Answers
-
If i file bankrupt do i still owe any court order fines i had a dui and im on... Asked 5/18/11, 4:04 pm in United States Illinois Bankruptcy Law
-
Who is responsible for telling the mortgage company that the bankruptcy has been... Asked 4/29/11, 11:56 am in United States Illinois Bankruptcy Law
-
I am a 2001 phi theta kappa graduate of an accredited private junior college which... Asked 4/11/11, 10:45 am in United States Illinois Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
