How Do Assets Impact Chapter 13 Plan Payments?
It's commonly believed the bankruptcy court only looks at a person's income when determining whether to approve their chapter 13 bankruptcy plan and how much they'll pay every month. However, that's not entirely accurate. The court also factors in the value of any non-exempt assets they have. Here's more information about this issue. Making Creditors Whole Although the goal of bankruptcy is to eliminate your debt, the court also wants to be fair to your creditors and make sure they get paid some money from any cash reserves and assets you may have.