How often do I need to make payments under Chapter 13 Bankruptcy?

In California, when filing for Chapter 13 Bankruptcy, you must make monthly payments to the chapter 13 trustee, who will in turn distribute the money to your creditors. The amount you must pay and the frequency of payments depend on the type of debt you have, your income and your expenses. The payments must generally be made in equal installments each month, with the first payment due within 30 days of filing the bankruptcy petition. It is important to note that you may be required to make payments to your creditors even if you are unemployed or unable to make the payments. Generally, you must make payments for the duration of the bankruptcy period, which can last three to five years. However, if the payments are made regularly during this period and on time, the remainder of your debt will be wiped out after the bankruptcy period ends. It is important to keep track of the payments you make to the chapter 13 trustee as well as your other creditors, as failing to do so could lead to the dismissal of your bankruptcy case and the discharge of your debts. Additionally, if your financial situation changes, you may be able to adjust the amount of your payments accordingly.

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How often do I need to make payments under Chapter 13 Bankruptcy?

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