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dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5156
Experience:  37 plus years of experience specializing in bankruptcy law
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I filed Chapter 13 back in July, went to the intial creditors

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I filed Chapter 13 back in July, went to the intial creditors meeting, and have been making regular payments for the last three months. A few days a go I received a notice saying that the Trustee had filed to dimiss the plan due to "it not being feasible". What does this mean, and what can I do to stop this?
Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.

Not being feasible means that the creditors have submitted their claims to be paid. And their amounts are higher than what you scheduled. As a result, based on what you offered to pay, cannot be paid in the time that the court has allowed. But no big deal. Have your attorney file an amended plan so that you will either pay more monthly OR you will restructure the plan to pay less and likewise your creditors will get less. But take care of this matter ASAP as otherwise you case will get dismissed.

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Customer: replied 4 years ago.

I belive that Chapter 13 only applies to secured debt. In my case, the only amount that is secured is my mortgage. My ex lived in the home and accrued $37,000 in arrears, which I am now trying to pay off in order to keep the home. He did not file. I can't really afford to pay any more then what I am currently paying. What happens then?

Was your plan confirmed or have you just been making payments but have not had your case approved?
Customer: replied 4 years ago.

It is my understanding that it was confirmed.

it it was confirmed you can still file an amended plan and still pay the arrearages but offering a lower rate of interest to pay back on the arrearage. Please see the lawyer asap.

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