Reasonable Expenses In A Minnesota Chapter 13 Bankruptcy

If you are thinking about filing a chapter 13 bankruptcy in Minnesota you may need to look at your budget. The bankruptcy trustee will only allow reasonable expenses in the budget. It is difficult to determine what is a reasonable expense, but we have filed many cases and help our clients determine what is reasonable. If you are entering a chapter 13 plan it is also a good idea to keep in mind that you are paying back your creditors interest free for three to five years. If you file a chapter 13 you may not be entitled to the exact same lifestyle as before the bankruptcy was filed. It is important to realize that in some cases you may need to reduce your expenses to allow for some repayment to your creditors.