Court Approved Payment Plan

A debtor in a Chapter 13 bankruptcy case must file with the court a proposed payment plan.  The plan will propose the repayment of all or part of the debt.  After the plan is filed, the bankruptcy case trustee will review it to determine whether it meets "feasibility," "best efforts," and "good faith" requirements.  If the the case trustee determines that the plan meets all legal requirements, the trustee will recommend to the court that the plan be confirmed.  If any objections are made to the plan by the trustee or any creditor, these objections must be resolved in order to get the plan confirmed by the court.  When the court approves the plan, the debtor will remain protected from the creditors, so long as the debtor complies with all of the requirements of the court-approved plan.