What is the trustee fee for Chapter 13?

Instead of a sales proceed commission, the Chapter 13 trustee receives a percentage of the monthly repayment plan as compensation for administering the case. The percentage the trustee can collect varies by district and is often limited to 10%, and the trustee’s total compensation is capped, as well.

What does a trustee do in Chapter 13?

The chapter 13 trustee both evaluates the case and serves as a disbursing agent, collecting payments from the debtor and making distributions to creditors. 11 U.S.C. § 1302(b). Filing the petition under chapter 13 “automatically stays” (stops) most collection actions against the debtor or the debtor’s property.

Where do I mail my chapter 13 payment?

All checks and money orders must be made payable to: Chapter 13 Trustee and mailed to the Chapter 13 Trustee’s payment address at P.O. Box 511, Chattanooga, Tennessee 37401.

What is a Chapter 13 Standing Trustee final report and account?

Chapter 13 Trustee files this report after completion of administration of the estate, either after completion of plan payments by the debtor, after debtor has been granted a hardship discharge, or after the case has been dismissed or converted.

How does the trustee get paid?

How does a trustee get paid? Trustee fees are paid out of the trust’s assets. While trustee fees are most commonly paid quarterly, the terms of the trust may specify that the trustee be paid annually or twice a year.

Can you skip a Chapter 13 payment?

If you miss payments, a Chapter 13 trustee can file a “Motion to Dismiss for Material Default.” If this motion is granted, your case would be dismissed. If your case is dismissed, you will not get a discharge. So if you can catch up on that missed payment before your next payment is due, you should ordinarily be ok.

How long does a Chapter 13 discharge take?

Discharge Time Frame Getting a discharge in a Chapter 13 case generally takes between six and eight weeks after making your plan’s final payment. This time frame depends upon the court’s caseload — the busier the court, the longer you may have to wait for your discharge letter.

What to do after a Chapter 13 is paid off?

After you have paid off all the debts covered by your Chapter 13 case, you must go to bankruptcy court one last time for your discharge hearing. If you prefer, you may send an attorney to the hearing in your place.

What happens after Chapter 13 is completed?

When you complete your Chapter 13 repayment plan, you’ll receive a discharge order that will wipe out the remaining balance of qualifying debt. In fact, a Chapter 13 bankruptcy discharge is even broader than a Chapter 7 discharge because it wipes out certain debts that aren’t nondischargeable in Chapter 7 bankruptcy.