Phone Call Us 414-326-9231
Toll Free 866-678-9352
Text Us 414-277-7742

How are monthly payments determined in Chapter 13 bankruptcy? P.2

In a recent post, we began discussing the way monthly payments are determined in Chapter 13 bankruptcy. As we noted, Form 22C requires debtors to enter the sources and amounts of income they have at the time of the filing. Having the guidance of an experienced attorney is important when filling out Form 22C, since issues can arise from time to time regarding exactly how income should be reported.

When a question arises as to how income should be reported, the bankruptcy court is required to set the matter straight. For its part, the U.S. Trustee Program—the branch of the Department of Justice responsible for supervising the administration of bankruptcy cases and private trustees—has its own established positions that it advocates in court. Some lines on Form 22C can be complicated with respect to what is required. In addition, properly determining applicable deductions isn’t always an easy matter, and it is important to get it right. 

In addition to determining one’s annual income and deductions, Form 22C determines the proper commitment period, which is either three or five years, as well as the debtor’s disposable income. Through these numbers, the court determines what the debtor’s payments will be during the commitment period.

One important reason to work with an experienced advocate when filling out bankruptcy paperwork is that it will reduce the possibility of opening oneself up to allegations of fraud. Short of that, however, improperly filled out paperwork can bog down the process and cause delays. An experienced attorney can help make sure that a debtor doesn’t forget to report any income or assets and that all paperwork is accurately and fully completed. 

No Comments

Leave a comment
Comment Information

Contact Our Milwaukee Law Firm

Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

Free Case Evaluation

* indicates required field

Milwaukee Office
633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Law Office Map

Kenosha Office
6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Law Office Map

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Law Office Map

Madison Office
2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Law Office Map

Glendale Office
6001 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Law Office Map