A Chapter 13 bankruptcy case will last up to five years from the time the plan begins, and your life will be different than normal during this time. While there will be changes that occur because of this plan, it can really help you overcome debt issues and creditor collections, and this is why people choose to use it. Here are several things you should expect while you are going through your Chapter 13 case.

You will have a limited amount of money to spend each month

The first thing to expect during your Chapter 13 case is to have to learn to live on a fixed income. In Chapter 13, the majority of your income will be used to repay the debts you have; however, the court will leave your budget with enough money to pay for the things you need. This includes having money for gas, groceries, and other basic expenses. You will not, however, have a lot of money left to blow on things you want to buy. Additionally, you will not be able to use your credit cards to make purchases. Because of this, you will learn to live on less money than you had before, and you will learn how to live within your means, which means spending less than you earn.

You will need to notify the trustee of all changes

The second thing to expect during your plan is to be in contact with the trustee of your case on a regular basis. Any time you experience a change in your finances, you will need to tell the trustee. This includes if you get a pay increase or decrease at your job. It also includes times when you incur an extra bill of some kind. You must report any type of change you experience financially to the trustee, and this change could have an impact on your repayment plan.

You must make every payment

The other thing to expect is that you must make every scheduled payment to the trustee. You cannot skip a payment simply because you want to or because money is tight. To complete the plan and reap the benefits of bankruptcy, you will have to make every payment required.

When the plan is up and you have successfully completed it, you will be in much better financial shape than you were when you began the plan. To learn more, talk to a bankruptcy lawyer in your town.