Chapter 13 Bankruptcy is a financial lifesaver to those who are wage earners but have too much debt on their hands. In a Chapter 13 bankruptcy, as you may well know, you have to stick to a very strict budget where every dollar that you earn, not needed for basic necessities, must be applied towards your Chapter 13 bankruptcy payment plan in an effort to pay back your creditors. The realities of 60 months of staying on a budget and paying out every extra dollar can be a sobering event for many individuals. Is it reasonable to assume that any individual will be able to live like this? What about additional family expenses like taking your family on vacation? Today we’ll answer a common summer time bankruptcy question which is “can I go on vacation while in chapter 13 bankruptcy?”

The good news for those who are newly embarking on a Chapter 13 bankruptcy repayment plan is that yes, there is often times an allocation in your budget for recreation and vacation. While it will differ from state to state, your Chapter 13 trustee, will typically provide an accepted vacation and recreation budget that is based on the size of your household.

A Chapter 13 bankruptcy plan is meant to get you back on track financially and isn’t a prison sentence. The courts look at your overall financial situation and not just certain spending categories. While the goal is to pay back your creditors, there will still be room for you to spend money on your family, go on your summer vacation, and travel to your family reunion. You just have to ensure that you stick to your confirmed plan, stay current with your payments to the Chapter 13 trustee, and answer your trustee and bankruptcy attorney’s requests for tax records and financial documents.

While bankruptcy plans can be complex and have rigorous requirements, an experienced Auburn bankruptcy attorney will be able to help you understand the entire process and give valuable counsel during the course of your bankruptcy period.

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