Chapter 13 Bankruptcy Timeline part 3

Here is the last part of the Chapter 13 Bankruptcy Timeline article.
10. After 3 months from the meeting
All your creditors must file their proof of claim in 90 days. They have to show to the bankruptcy court how much money you owe them. They must do this if they wish to receive some payments during the repay period. They only exception applies for government entities.
11. Six months after you filled for bankruptcy
After 180 days the government entities loose they right to have claims against you.
12. 3 years after you filed for bankruptcy
Before your last payment under your Chapter 13 bankruptcy repayment plan, you will get your formal discharge notice from the court. Prior to you obtain your discharge you need to complete an approved financial management course.

13. Five year from the first payment,
All your payment under Chapter 13 bankruptcy plan must be completed within 5 years of the date of the first payment.

This is the procedures and some general timelines. Of course there are things that are different from case to case and these details can influence the durations of the procedures.

In the end we remind that a Chapter 13 bankruptcy does not discharge your debts as a Chapter 7 does. Instead, it gives you the opportunity to settle amounts past due through monthly payments made over time.

It is used by both individuals and businesses and does not negatively impact credit to the degree that a Chapter 7 filing does, because it demonstrates to creditors that you are willing to pay your debts despite the problems.

Chapter 13 Bankruptcy Timeline

Chapter 13 Bankruptcy Timeline part 2

Chapter 13 Bankruptcy Timeline part 3