tag:blogger.com,1999:blog-14162253.post2164731288615244106..comments2024-03-28T18:57:15.124-06:00Comments on Wash Park Prophet: Are Chapter 13 Plans Futile?Andrew Oh-Willekehttp://www.blogger.com/profile/02537151821869153861noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-14162253.post-55221834684526758182008-07-30T09:01:00.000-06:002008-07-30T09:01:00.000-06:00Debtors in Chapter 13 plans must make a payment de...Debtors in Chapter 13 plans must make a payment designed to consume all available income, after making allowed secured debt payments and an allowance for living expenses to creditors for the life of the plan, which is generally three years for those not required to file under Chapter 13 and five years for those required to file under Chapter 13, based upon the means test.The easier availablity of credit, lower interest rates and better loan terms that bankruptcy reform was supposed to produce has not materialized, even though the reduced write offs of bad debt that were predicted did materialize.Anonymousnoreply@blogger.com