Virginia Beach Bankruptcy Lawyer

Affordable Representation for Bankruptcy and Debt Management

How will I know who is receiving money from chapter 13 payments?

Most people are very interested in knowing how much they owe to their creditors and how much they have left to pay on their chapter 13 bankruptcy plan. If you want to find out how much each creditor is owed and what your payoff balance is on your chapter 13 plan, review your six month reports or write to the chapter 13 trustee’s office and request a “Debtor Printout”. The trustee’s office will only send you such a printout twice a year. The “Debtor Printout” will list the payoff balance to each of your creditors and of your chapter 13 plan. It will not include any un-matured interest which your plan requires you to pay, nor does it calculate the actual percentage unsecured creditors will be paid. It is only an approximate figure. Any request for the amount required to pay off your plan in full must be in writing to the trustee’s office.