Minneapolis Chapter 13 Bankruptcy Repayment Plan

If you are considering Chapter 13 bankruptcy, you and your attorney will work together to show the court that you have the income needed to support a repayment plan. To qualify, you must submit a petition along with the required documentation, including a plan to restructure your debts.

 This plan typically lasts three to five years, and once completed, any remaining eligible debt is discharged. A trustee will monitor your payments to keep everything on track. For help creating a Minneapolis Chapter 13 bankruptcy repayment plan, contact our experienced Chapter 13 bankruptcy attorneys at Walker & Walker.  We have the knowledge to guide you through every step and make the process as smooth as possible.

Preparing for a Bankruptcy Repayment Plan

When filing for Chapter 13 bankruptcy, you and your attorney must submit supporting documentation with your petition. Your attorney will guide you in collecting and submitting the necessary paperwork, which generally includes:

• The names and addresses of your creditors and the amount they claim you owe them
• Pay stubs, direct deposits to your account from your employer, or tax returns as proof of income
• A list of the real property you own or lease
• An itemization of your monthly living expenses
• Information about your federal and state income taxes and proof of having paid any outstanding taxes—your taxes must be up to date to qualify for the program

Once you retain Walker & Walker, you can direct creditors to contact our office instead of you. After your Chapter 13 case is filed, the court issues an automatic stay, which legally stops collection attempts while your Minneapolis Chapter 13 repayment plan is in progress.

What Is a 341 Meeting of Creditors?

Within 21 to 40 days after filing your Chapter 13 petition, a trustee will conduct the 341 meeting of creditors. While it is called a “meeting with creditors,” most creditors do not attend. The trustee reviews your finances, asks questions, and ensures your proposed repayment plan is accurate.

Our attorneys will guide you step by step through gathering all necessary documents, including tax returns, pay stubs, bank statements, and information about assets, debts, and expenses. You are never alone in this process—we will be with you at every step to make sure you are prepared and supported.

This meeting helps establish what you can afford under your Minneapolis Chapter 13 plan. Once the plan is confirmed by the court, you will begin making payments to the trustee, either directly or through wage deductions. Secured payments, such as car loans, continue as agreed. Your bankruptcy attorney will attend the 341 meeting with you to answer questions, provide guidance, and ensure you feel confident and supported throughout the process.

Discuss Your Chapter 13 Debt Relief Plan With Our Minneapolis Attorneys

Because Chapter 13 bankruptcy involves a repayment plan that lasts three to five years, it is important to have a skilled attorney by your side to ensure your plan stays affordable and to address any changes, such as a job loss or significant change in income.

The goal is to complete your repayment plan successfully and reach the discharge phase, which cancels remaining balances on qualifying debts. For help preparing and submitting a Minneapolis Chapter 13 bankruptcy repayment plan, contact our experienced attorneys at Walker & Walker today.