After you file a chapter 13 case, you are required to make monthly plan payments to your bankruptcy trustee. If you fail to make a payment, your case will likely be dismissed. With that said, payment plans can last anywhere from three to five years and making your payments on time during this period of time can be challenging. Unexpected events tend to happen, especially over such a long period. For this reason, debtors are not always bound by their confirmed Chapter 13 repayment plan. The court understands things break down, people lose jobs, and medical expenses can build up. Therefore, 11 USC 1329 (a) permits the debtor to modify its confirmed plan “upon request.”
You are allowed to modify your plan both before and after the confirmation. Depending on the case or the court, it may take anywhere from a couple of months to over a year before your case is confirmed. During this time you can explain your situation and file an amended plan for the trustee and creditors to consider. Modification after confirmation requires you to draft a motion to modify your plan payments to something you can afford. Once again you will have to show proof that you are no longer able to afford the plan for the duration of your case.
Please note, there are priority obligations that you are still required to pay, such as certain taxes, domestic support obligations, and any mortgage arrears on properties you wish to keep. If your payment plan was only enough to cover required debts, it might be difficult to reduce your payment plan. Conversely, if your payment plan allotted a percentage to nonpriority unsecured creditors, then you can reduce your payment plan by eliminating or reducing the amount you owe them.
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"Benjamin Wright with Wright Law Office made a very difficult time for us much easier. We were struggling and did not know what our options were. He explained all our options and helped us to make the best financial decision. They made things easy and were always available to answer any questions we had. I would definitely recommend him."
Why should you hire our firm to represent you in bankruptcy?
Great question. Here are a few reasons:
- 1. Bankruptcy is our sole area of practice. Attorney Wright has over 10 years of experience in the field of bankruptcy and has helped over 1000 people successfully file.
- 2. Attorney Wright has an accounting background that is useful in analyzing complex financial documents. Prior to law school he obtained a degree in accounting from the University of Wisconsin School of Business. He exercised his strong numerical aptitude in the field of accounting, including several years with The Kohler Co., before ultimately deciding to pursue a law degree.
- 3. New clients meet with an attorney during their first visit. We understand your time is valuable. It is important your questions are answered quickly and accurately so you can take appropriate steps to secure a better financial future and eliminate fear and stress.
4. In business, referrals are the highest form of professional compliment. We frequently receive referrals from other lawyers and previous clients.
- 5. Our firm is small which enables us to focus on quality over quantity. We don’t have billboards on the I-10 or banners affixed to public transportation. Our approach is a bit more understated. We care about people and doing things right and it shows in our low employee turnover and positive reviews.
- 6. Perhaps the most important consideration is the cost of filing bankruptcy. We continuously assess our fees to ensure we offer fair and competitive pricing. We want to offer you a deal without sacrificing the quality of your experience.
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What our clients are saying…
Mr. Wright and his staff were amazing. They made a negative situation a lot better and turned it into a positive. Could really tell they care helping people and I will refer their Phoenix Bankruptcy Attorney firm to friends and family. Thanks again.
I called around looking for the right bankruptcy lawyer and came across Benjamin Wright. He personally called me for the consultation seeing how I live in Kingman AZ. He was very helpful from the start and his staff was very friendly and explained any questions I had, sorry for all the questions. I would definitely recommend Wright law offices, and I do!! Thanks for everything, you made what seemed like a hard thing to do simple!! You guys rock!!!
Great lawyer, he really helped my mother out of a jam. She was totally new to bankruptcy and he talked with us for about an hour and a half to make sure she wouldn’t be worried.
Ben is a kind and down to earth attorney. He worked around my busy schedule as a single mom (school, full-time job, and daycare pick up and drop off times). He explained absolutely everything to me and was good about e-mailing. I am writing this review as a THANK YOU.
I had a very positive experience with Attorney Wright. He or his staff returned my e-mails and calls promptly (even after business hours occasionally). His fees were reasonable. He was patient with me when I showed up in court missing an important document. He is aggressive, but fair and nice.