every penny you spend while your paying back a portion to your creditors
2007-07-24 07:56:41 · 5 answers · asked by Lea 4 in Politics & Government ➔ Law & Ethics
According to a family member, no court watches. Only those filing for Chapter 13 are in the room with you.
2007-07-24 08:05:48 · answer #1 · answered by Shortstuff13 7 · 0⤊ 2⤋
Yes, they do. And if the court is not watching, your creditors surely are. It is called a structured repayment plan and is the most important part of a Chapter 13 Bankruptcy.
2007-07-24 07:59:56 · answer #2 · answered by msi_cord 7 · 0⤊ 0⤋
The real answer is that the courts barely monitor anything. They have neither the staff nor the time to do that kind of work.
However, your creditors WILL be monitoring. And they're the real check against deceptive practices by debtors.
2007-07-24 09:46:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Not every penny -- but there is a bankruptcy trustee who oversees any significant transactions.
2007-07-24 07:59:21 · answer #4 · answered by coragryph 7 · 0⤊ 0⤋
Yes...that's what they do.
2007-07-24 07:58:23 · answer #5 · answered by wizjp 7 · 0⤊ 0⤋