Chapter 13 bankruptcy is a process that starts with the accumulation of data and finishes with the discharge. This type of legal process can be broken down into well-defined steps. The first step is when the paperwork is being prepared prior to filing the bankruptcy case. For debtors this is when most of their participation in the bankruptcy case occurs. A large amount of information and documents must be provided to an attorney before the bankruptcy petition can be prepared and filed.
The second step in a Chapter 13 bankruptcy case occurs after the petition is filed. The debtor attends the 341 meeting of creditors, which is when the debtor meets with the Trustee to review the paperwork filed in the case. This step occurs about thirty-five to forty-five days after the case is filed. The third step is confirmation of the Chapter 13 plan. This step takes place two to three months after the 341 meeting. Confirmation is the process of seeking court approval of the plan.
The fourth step in a Chapter 13 bankruptcy case is called TRCC. This is when the Trustee reviews the claims filed in the case and determines if a plan modification needs to be filed to pay all of the allowed claims as required by the confirmation order. Not much occurs after TRCC. Assuming the debtor continues to make their payments each month as proscribed by the plan and meets the other requirements for bankruptcy discharge, the next step should be the discharge order after which the case is closed.