Have you finally decided to get help with your debt problems? If so, your lawyer might recommend using Chapter 13 bankruptcy. Chapter 13 requires that you repay your debts, but it provides an affordable way to do this and gives you protection from your creditors. The repayment plan you have for your Chapter 13 case might require making payments for the next 36 to 60 months. During this time, you will have an active bankruptcy case and responsibilities. Here are three of the primary responsibilities you will have during this time.

Make Your Payments on Time

When following a Chapter 13 plan, the first and foremost responsibility you have is to make your payments on time. You cannot skip payments, and you should never pay them late. While you might have to make these payments for the next 60 months, it is only temporary. You will eventually make your last payment, and your case will conclude.

Some people must make payments weekly, while others might make them bi-weekly or monthly. Your bankruptcy documents will state the frequency of the payments as well as the payment amount. Your payment amount will likely stay the same throughout the entire plan, but it is subject to change.

Report Changes to Your Income or Debts

The only reason your payment amount might change is if you experience changes to your income or debts. As a result, you must report all these changes to the trustee during your Chapter 13 repayment plan. If you get a pay increase at work, you must report the change. If you encounter an unexpected expense that you cannot repay yourself, you must also report that.

Live With the Money You Have Left Over

During a repayment plan, the other responsibility you have is learning to live with the money you have left over after making your payment. When your lawyer creates the plan, they will make sure that you have enough money to pay your other bills and living expenses. You will not have a lot of extra money, though, so you will need to learn how to budget and live within your means.

These are the three primary responsibilities you have when you are following a Chapter 13 repayment plan. If you follow these guidelines for the entire time of your plan, you will come out on the other side with an improved financial position. If you have questions about how this works, talk to a bankruptcy attorney in your city.