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Can I get a break from having to make these plan payments or: What is a moratorium?

If you are having trouble making your chapter 13 plan payments and believe that your not being able to make a payment for a period of time would allow you to recover and get back on track, then you may wish to consider asking your attorney to ask the bankruptcy court for a moratorium.

You have to file a motion for moratorium asking for it and usually, if the trustee consents, it is approved by the bankruptcy court. Unless there is an objection, you will not have to appear in court. However, you should have a legitimate reason and need to understand that you normally can get no more than three months in your whole sixty month plan. Also, the bankruptcy trustees usually do not consent until you have established a track record of good payments for at least one year, and have a legitimate reason.

Normally, your attorney will charge an extra fee for filing a motion for moratorium.

  • Learn More About Bankruptcy

    If its time to start considering a step toward bankruptcy we're here to help. I have been helping people through the process of filing bankruptcy in South Carolina for over 20 years. We are here for you if you have questions.
  • Download Bankruptcy Guide

    This guide is full of useful information about bankruptcy. It's a large PDF so it may take a few seconds to download.
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    No, not unless you committed a crime in the creation of the debt (for example, fraud). Simply borrowing money and not being able to pay it back is not a crime. Many creditors representatives will tell you lies on the telephone and say that they will have you put in jail. Perhaps they are too ignorant to know they are wrong or that it is illegal for them even to say that. See More Bankruptcy Q&A