What happens if I fail to make payments under my Chapter 13 Bankruptcy plan?

If you fail to make payments under a Chapter 13 Bankruptcy plan in West Virginia, your trustee, who is an appointed officer in charge of your bankruptcy, can move to have your debts discharged or your assets sold. The court will then decide how your debts are to be handled. If you have had payments due for more than 90 days, the trustee may ask the court to dismiss your bankruptcy case. In addition, if you fail to make payments for a significant period of time, your creditors may move to have your bankruptcy case dismissed or converted to a Chapter 7 liquidation bankruptcy. If the court dismisses your bankruptcy, your creditors can take legal action to collect the debt from you. This may include garnishing your wages or placing liens on your property. You will also be responsible for any fees associated with the filing and court proceedings. If your bankruptcy case is converted to a Chapter 7 liquidation bankruptcy, you must turn over your nonexempt assets to the trustee. The trustee will then sell your assets in order to pay off your creditors. You may be able to keep some of your property, such as your house or car, if you are up to date on payments. It is important to make sure that you keep up with your payments under a Chapter 13 Bankruptcy plan in West Virginia. If you fail to do so, you may face severe consequences, including the dismissal of your bankruptcy case or the conversion of it to a Chapter 7 liquidation bankruptcy.

Related FAQs

What happens if I fail to make payments under my Chapter 13 Bankruptcy plan?

Related FAQs

Related Blog Posts