Chapter 13 bankruptcy trends

Although we have seen an overall decrease in bankruptcies, individual Chapter 13s have shown an increase over the past two years. This increase, while still lower than pre-pandemic bankruptcy filings, according to Epiq Bankruptcy, “[have increased] 32 Percent in Calendar Year 2022”.

Since August 2022 at NextChapter, both case filings and credit report imports have continued to increase month-over-month for our users. This is the first continuous positive trend our team has tracked since before the pandemic.

NextChapter benefits

With Chapter 13 bankruptcies on the rise, it’s important to make sure your firm has the tools needed for more filings. At $250 annually, this add-on simplifies the Chapter 13 process by granting you access to all the features you need to file and manage your cases online. You can access everything on the cloud, so you can work from anywhere and on any device.

The Chapter 13 Package includes:

• Calculator: Make updates to plan length or claim treatments right on the page, use the debtor’s income and expenses to easily calculate the plan payment amount.

• Step Payments: Use the calculator to determine varying plan payment amounts.

• Plan Editor: Speed up data entry and ensure accuracy with the plan editor and save your progress anytime. Easily duplicate and amend your plans.

• Time Tracker: This tool tracks your time spent on a case and records your billable hours.

• Receipt Printouts: Send your clients a simplified version of their payments right from the system.

Why NextChapter?

Instead of using messy spreadsheets and clunky software calculators, prepare Chapter 13 cases in your bankruptcy software from start to finish. Our real-time calculators specific to your district will save you time and energy. You can learn all about our Chapter 13 Plan Package in our webinar playback here.