Upon confirmation of a Chapter 13 plan, any secured debt in which a debtor is making direct payments the following will occur:
- The automatic stay under 11 USC 362 and 11 USC 1301 is terminated as to the collateral of the secured debt.
- The claim will not be discharged.
- The trustee will not monitor the Debtor’s performance on direct payments to the creditor.
- The Debtor must pay the claim without any modification to the terms of the contract.
Please call me today at (801) 432-8682 to discuss your specific situation and how Bankruptcy may be right for you.
8833 S. Redwood Road, Suite C
West Jordan, Utah 84088
Telephone: (801) 432-8682