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Bankruptcy

 

Terms Permitted in a Chapter 13 Plan

Learn about the various terms that the Bankruptcy Code permits, but does not require, to appear in a chapter 13 plan.

Transcript

Section 1322(b) of the Bankruptcy Code features a litany of terms that may, but need not, appear in a chapter 13 plan. On their face, these provisions seem to give the debtor far-reaching power to adjust creditors' rights. But the many and varied requirements for plan confirmation, found mostly in § 1325, limit these powers, sometimes severely. We'll talk about the permitted terms in this lesson; the plan-confirmation requirements must await other lessons.

I. General Power to Modify Creditors'...