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How Much Will My Chapter 13 Plan Monthly Payment Be?

How Much Do You Pay In Chapter 13  Bankruptcy Plan?

People looking to file a chapter 13 bankruptcy and a plan of repayment on their debt often ask what their monthly payment is going to be.

The amount to be repaid is determined on a case-by-case basis because different things can come into play that can affect your monthly repayment.

The main factor is how much disposable income you have available for debts. This is how much money is left from your net monthly income after all monthly expenses have been paid. This analysis is called means-testing. Means-testing may require a certain minimum amount to be paid to creditors.

Second is how much money you must pay through the bankruptcy plan. Some debts must be paid in full for practical or legal reasons. These include things like mortgage, taxes, child support, alimony, or other domestic support obligations.

Finally, if the value of the assets you own exceeds their exemption, the trustee would sell that asset and pay that extra amount to creditors.