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March 22nd, 2010
March 19th, 2010
Unlike a Chapter 7 Bankruptcy, when a person files for a Chapter 13 Bankruptcy there are caps on the amount of debt. Beginning on April 1, 2010 the debt limits for filing Chapter 13 bankruptcy are set to increase to a maximum of $360,475.00 for unsecured debt and to a maximum of $1,081,400.00 for secured debt. Section 104 of the Bankruptcy Code requires that the debt levels for a Chapter 13 Bankruptcy be re-evaluated every 3 years. When you file a Chapter 13 Bankruptcy you are required to make monthly payments to the Chapter 13 Trustee. The New Orleans Bankruptcy Court is located in the Eastern District of Louisiana. The Chapter 13 Trustee for the New Orleans Bankruptcy Court is S. J. Beaulieu, Jr. To make sure that your monthly Plan payments are credited properly you need to do the following:
Your first Plan payment is due 30 days after the bankruptcy is filed, and on the same day of each month thereafter for the duration of your Plan. |
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