What's Required To Be Finalized on Filing Day?

[kornellred]

Besides the intention to file, that is...

My attorney will file my Chapter 13 on February 4th. The month of January 2008 will be included in my 6-month income determination. My pay advice for the second two weeks of January will not even be available until the end of the first week of February. Therefore, the factual framework for a proposed payment plan will definitely not be ready on Feb. 4th.

So is filing simply the declaration of intent, or do all ducks need to be in a row on filing day? Or is a basic payback proposal submitted and then revised between filing day and the 341 meeting?

Willie R.

[HHM]

Generally, nearly all chapter 13 plans are revised to some degree between the time of filing and the confirmation hearing. So if you are missing one paystub, that won't be a problem.

The conflict in the chapter 13 is that the debtor wants to pay as little money as possible and the trustee wants you to pay as much money as possible, thus, the initial plan filed by the debtor is usually modified at some point during the process of negotiation.