Obtaining Credit in Chapter 13 – Did the Amendment to FRBP 4001(c) Eliminate Motions to Incur Additional Credit?

By Nathan E. Curtis and Peter Francis Geraci, Geraci Law LLC (Chicago, IL)

Time does not stand still while a debtor is in Chapter 13. Nor do income and expenses. Ideally, consumer debtors who have filed a chapter 13 would not need to obtain credit during the term of their plan. Unfortunately, circumstances sometimes get in the way. The most common request for additional credit involves vehicles. Often, the plan provides for payment on a vehicle that is already past its useful life, and needs expensive repairs . . .

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