Confirmation Hearings in Chapter 13 Bankruptcy
One of the key elements of any Chapter 13 bankruptcy filing is the development of a payment plan, which will detail the manner in which your debt will be paid off over time, usually either in a 3 or 5 year period. Before you can move forward with the proceedings and undertake the repayment procedure described in your plan, however, it must first be confirmed by the court in a hearing.
At Russell Van Beustring P.C., our Houston bankruptcy attorneys have extensive experience in managing the Chapter 13 process and fully understand how to compose a repayment plan that is likely to be swiftly approved, allowing you to move forward and away from financial distress. To learn more about your rights in courts and options for representation, call us today at 713-973-6650.
What Happens at the Hearing?
At the confirmation hearing is an opportunity for the court and your creditors to examine your repayment plan and make any necessary objections before it becomes a legally binding document. The following are a few of the common objections that your legal counsel may need to counter at a confirmation hearing:
- Concerns over your means to make the monthly payments detailed in the repayment plan
- Questions over the plans compliance with bankruptcy laws
- A creditor’s objection to the amount they are being repaid
- Mortgage holders’ objections that the plan underestimates the amount of arrears
- Automotive loan holders’ objections to the estimated value of a car loan that you are trying to cram down
An experienced attorney will have the tools and resources to handle these objections in stride.
The process of a Chapter 13 bankruptcy can seem overwhelming, but the guidance of the dedicated legal team at Russell Van Beustring P.C., can provide the experience and stability you need to successfully get through the process and get started working on your financial security and independence. For a free consultation to discuss the details of your case with a Houston Chapter 13 bankruptcy lawyer, call us today at 713-973-6650.