if my bankruptcy plan is not confirmed and case is dismissed what happens to my plan payment
If your bankruptcy case is dismissed, you will no longer have the automatic stay protection that bankruptcy affords. The stay will be lifted and your creditors will be allowed to resume collection efforts. Your creditors may add interest and penalties to the amount that were waived while your chapter 13 bankruptcy was active.
If your case is dismissed prior to your plan being confirmed the Chapter 13 bankruptcy Trustee is entitled to fees incurred in the administration of your case. Your bankruptcy attorney may also be entitled to fees. Any allowed fees will be paid from the money that you paid to the Trustee for your plan. Also, disbursements may have been made to your mortgage creditor and/or other secured creditors entitled to adequate protection. Any funds that are remaining after the previously allowed fees are paid, will be returned to you upon the closing of your chapter 13 bankruptcy case.
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Maxwell Law Firm PLLC represents clients in North Carolina with: bankruptcy court, filing for bankruptcy, chapter 7 bankruptcy, foreclosure defense, chapter 13 bankruptcy representation, and loan modifications. You may schedule your appointment by calling 704-461-1883. Save an additional 25% off the fees -by scheduling your appointment online.
