In a recent Chapter 13 case, a Trustee’s motion to modify a debtors confirmed plan to include a debtors post petition inheritance was granted. The debtor with a monthly income of $2,096, who had unsecured debt amounting to more than $20,000, had notified the bankruptcy court that he would be receiving between $25,000 and $40,000 […]
The Bankruptcy Estate
The potential filer for Chapter 7 bankruptcy should understand that in such a bankruptcy there is not plan of repayment on the part of the debtor, like there is in a Chapter 13 bankruptcy. What occurs in a Chapter 7 is the creation of what is known as the “bankruptcy estate.” Under 11 U.S.C. § […]
