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applicable commitment period Tag

Chapter 13 Bankruptcy – Where Does My Tax Refund Go?

If you are in a 100 percent Chapter 13 plan in the Northern District of Georgia, you will be able to keep all of your tax refund.  However, if you are in a Chapter 13 case where your credit card debt, medical debt and other unsecured debts are being eliminated in your plan, you will be required to mail your tax refund to your Chapter 13 trustee during the applicable commitment period of your Chapter 13 plan. What does the Chapter 13 trustee do with all of the money she gets from your tax refund? The answer is that she distributes it...

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Chapter 13 and the 36 Month Applicable Commitment Period

Understanding Chapter 13 and the 36 month applicable commitment period can be tricky.I received a call this past week from one of my Rome GA bankruptcy clients who was in a ten percent Chapter 13 plan.  He asked his plan said he was going to pay back only ten cents on the dollar but had instead ended up paying back 20 cents on the dollar before his discharge was granted.To understand how this can happen in a Chapter 13 bankruptcy, one must first understand that all plans must run for a minimum of 36 months.  If you pay extra money...

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