Need a backup plan for your Chapter 13 bankruptcy? Tune into this episode of Banking on Credit Unions as Attorneys Jim Sorensen and Blair Boyd discuss options for post-confirmation modifications. When a debtor runs into trouble after their Chapter 13 plan is confirmed, is revising the plan possible? Learn about the legal standard for modifications, potential creditor objections, and key strategic considerations. 

Whether you're a creditor or debtor facing an imperfect Chapter 13 plan, this overview could provide a lifeline. Don't get stuck with no way out - listen now for insights on Chapter 13 mulligans!

Other subjects covered on the show:

• Why confirming a Chapter 13 plan is so important - it makes the plan binding unless later modified.
• The steps and timeline in a typical Chapter 13 bankruptcy case.
• Options for treatment of auto loans in Chapter 13 bankruptcies - cram downs, bifurcation of claims.
• The law allowing modifications of confirmed Chapter 13 plans and in what situations.
• Practical and strategic considerations in deciding whether to object to a post-confirmation modification.
• How modifications could still result in case dismissal and refiling if the debtor stops payments.
• Potential settlement options when faced with a plan modification attempt.

If you want to know more about the SVL Law Team, you may reach out to them at:

Website: https://svllaw.com/ 

                 https://svllaw.com/podcast/