ABA Family Legal Guide

Consumer Bankruptcy

Chapter 13: Wager-Earner or Individuals with Regular Income Bankruptcy

Payment Plans

My plan has been approved and I have started to make payments, do I need to do anything else?

Yes. Chapter 13 imposes additional filing requirements on debtors during the lives of their repayment plans. Upon request from the judge or a party in interest (e.g., a trustee or creditor), debtors must submit annual financial statements showing the amount and sources of income and expenditures.