After consulting a professional from the Kepple Law Group, you’ve decided to move forward with filing for Chapter 13 bankruptcy protection. Even as you prepare for the meetings that must take place and ensure that payment arrangements are settled, there’s a resource that you can start using to monitor your progress. That resource is known as the National Data Center or NDC. Here are some examples of what you can do after establishing a free account and using the NDC to keep track of your progress.
All the Data About the Filing at Your Fingertips
The NDC site is divided into several sections. The first to be populated is the Case Information section. This part of the site provides all the basic data about your Chapter 13 bankruptcy. That includes the filing date, the judge and attorney information, the pay schedule, and the information about the trustee who will oversee the case. Important dates like the date for the meeting of creditors and eventually your discharge date will also be posted in this section.
Confirmation of Payments Received
The account ledger makes it easy for you to confirm when the trustee applied the received payments. This is helpful to track when your employer remits the payments. If you are an independent contractor or a freelancer, the interface allows you to know when payments remitted electronically or by mail were received and posted by the trustee. Using this section helps ensure that all of your payments are posted on or before the date required by the court. In this way, you can be assured that the bankruptcy remains in good standing.
Confirmation of Disbursements by the Trustee
As your bankruptcy lawyers will explain, you can also use the account ledger to confirm when the trustee made disbursements to your creditors. This information is usually arranged in chronological order along with the posts related to the received payments. Thanks to the way the data is arranged, it’s easy to see what type of activity has taken place in any given month.
It’s not unusual for trustees to hold a month or so of funds in arrears, so don’t be surprised if there’s a balance that’s being held in check. That’s in compliance with the payment schedule approved by the bankruptcy court. It also ensures that the trustee knows when to notify you and your personal bankruptcy lawyer Central Illinois that no more payments to the court are due and that it’s time to begin filing documents to discharge the bankruptcy.
Check the Balances Owed to Each Creditor at a Glance
The claim summary section allows you to see how much as been paid to each creditor and the balances that remain. Priority creditors are listed first and others follow. As a creditor is paid in full, the line item is marked as “payment complete.” This is a great way to check in real time and know that you are making progress.
If you decide that a Chapter 13 bankruptcy is right for you, the team at the Kepple Law Group will administer the means test and ensure that you meet the court’s qualifications. If so, the team will prepare the petition and submit all the necessary documentation on your behalf. For the duration of the Chapter 13, make sure to use the NDC site regularly. If nothing else, confirming that creditors are being paid and you’re on the way to being debt-free will be good for your peace of mind.