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Calculating your payment plan for Chapter 13

In the cases of individual bankruptcy, there are three main kinds of bankruptcy to choose from: Chapter 7, Chapter 11 and Chapter 13. All are ways to try and relieve the debtor of their pressures and help them to get back on track.

Chapter 13 bankruptcy has the purpose of helping a debtor put forward a repayment plan so that he or she can avoid surrendering property and instead helps him or her catch up with the repayments. This blog will offer a brief overview on how this payment plan is likely to be calculated.

Your incomings and outgoings

In order to be able to file for a Chapter 13 repayment plan, it is mandatory that you have a regular income. This income would usually be in the form of a salary, but could also come from a source such as a pension or disability payments. In the plan, you must be clear about all the income that you receive, as well as any outstanding debts and scheduled outgoings.

Types of debt

A creditor must file a form called a Proof of Claim. This form will inform the court of how much the creditor thinks you owe. If some of the debts listed by the creditor are priority debts, they must be repaid in full by a Chapter 13 plan.


Calculating a payment plan for Chapter 13 bankruptcy can be complicated. They can be done by hand but should be done with the assistance of a bankruptcy attorney. It’s important to do you research and make sure that Chapter 13 repayment is the best for you.

Source: The balance, “How much will my chapter 13 plan payment be?,” Carron Armstrong, accessed Aug. 14, 2017