Missing A Chapter 13 Scheduled Payment

Answer:

Another question we get from our Chapter 13 clients in our South Jersey office is, “If I miss a payment, what happens? After all, Chapter 13 bankruptcy is a repayment plan.” What happens when you miss a payment is the trustee will send you a warning letter. Remember, this is the person who is handling your payments every month to your creditors. They’ll give you a letter letting you know that you are behind, and they will give you the opportunity to remedy that. It’s important that you remedy that situation right away. If you have any more questions about Chapter 13 bankruptcy or what to do if you missed a payment, please contact our office.