What happens to funds held by a Chapter 13 trustee (the “Trustee”) in the event that a Chapter 13 debtor dismisses her case voluntarily? That’s the question that was addressed by the United States Bankruptcy Court for the Eastern District of Michigan (the “Court”) in a recent opinion.1
In this case, the Chapter 13 debtor (the “Debtor”) owned a residence with significant equity. The Court confirmed a plan pursuant to which the Debtor would retain her residence and make monthly payments to the Trustee in the amount of $8,500.75 for 60 months.
Filed under:
USA, Michigan, Insolvency & Restructuring, Litigation, Foster Swift Collins & Smith PC, Debtor, Unsecured debt, Motion to compel, Default (law), Default (finance), Voluntary dismissal, Title 11 of the US Code, Trustee, Supreme Court of the United States, United States bankruptcy court, US District Court for Eastern District of Michigan
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