Chapters 12/13 plan

Chapters 12/13 plan
The plan must provide for a distribution to the debtor's creditors of all the debtor's projected disposable income over the term of the plan. The plan's term is a ordinarily no more than three years. The plan must describe the treatment of all classes of creditors, the amount of the payments to be made by the trustee, and the length of time that the plan will be in effect. In return, the debtor pays into the plan the projected disposable income. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.

Glossary of Bankruptcy.

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