Any Chapter 13 plan requires that you keep up with your payments. You get a lot of say in your own repayment plan, so try to make sure it’s something you can stick with. If a major change happens in your life, though, such as losing a job, you might find yourself suddenly unable to make things come together. In that case, you need a lawyer.
A chapter 13 case is distinct from chapter 7 bankruptcy because it is not a liquidation bankruptcy. Instead, in chapter 13 bankruptcy, with the help of your knowledgeable bankruptcy lawyer, you will establish a payment plan that you can stick to over the course of 3 to 5 years to pay off some or all of the creditors in your case. Your plan is a commitment to make payments on a regular basis to those creditors. If you are unable to make those payments, you can face significant consequences. You and each creditor are bound by the terms of your chapter 13 repayment plan.
If you have unexpected and catastrophic financial issues during your chapter 13 case, you should consult immediately with your bankruptcy attorney. It may be possible to deal with altered circumstances by amending your chapter 13 plan but simply skipping out on payments could expose you to challenges. Furthermore, you may also be able to add debts to your chapter 13 payment plan that you incurred after initiating the plan so that they are discharged with other debts at the completion of the plan. In all of these situations, it is in your best interests to reach out to your attorney sooner rather than later so that you know the options available to you. Waiting too long to get help or skipping out on a payment that you have agreed to make without notifying anyone of the changed circumstances in your life could make things much more problematic for you in the future. It is far better to reach out to your attorney and ask if there are alternatives available such that you can update your chapter 13 repayment plan and stay on track with it.