Understandably, you might worry about emergencies and unforeseen expenses that arise when you are in a chapter 13 plan. After all, these things happen and sometimes we need to borrow money, or put a few other bills to the side for a few months to deal with life situations.
Not to worry. Chapter 13 plans can often be modified, payments lowered, so that you can respond to the emergency. In fact, every winter I file about a dozen or so “heater motions.” We call them this because every winter someone’s heater needs to be replaced or repaired. And that takes money that is not in the budget.
Depending on the circumstances, we can get permission to borrow money, or, we might temporarily lower the chapter 13 payment to free up some funds to meet the family’s needs.