What will be my Chapter 13 plan payments for my Florida bankruptcy?
Many of our clients ask what their chapter 13 plan payments will be during the initial consultation. There is no way to tell a client what their payments will be based on the initial consultation. More paperwork and information is needed to fulfill that request. In addition, many attorneys use bankruptcy software to determine plan payment amounts.
The software is more accurate and less time consuming. However, if the data is inputed incorrectly, the plan payments will be wrong. Furthermore, a debtor's attorney can only propose what a plan payment can and should be.
The bankruptcy court and Trustee ultimately have the final decision. If the Trustee believes the plan to be fair and adequate, then he or she should approve the plan. If not, the debtor's attorney will have to go back to the drawing board. A debtor can expect their will not be ver much if any discretionary income after all living expenses and monthly plan payments are made.
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Greg Gilbert
Keith Maynard
