A Chapter 13 Plan May Be Modified After Confirmation Only

question 90

True/False

A Chapter 13 plan may be modified after confirmation only at the request of the debtor.

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Definitions:

Projected Sales

Estimated revenue figures based on market analysis and sales patterns, used for business planning and forecasting.

Depreciation

The systematic allocation of the cost of a tangible or physical asset over its useful life, recognizing it as an expense.

Tax Rate

The fiscal percentage deducted as tax from an individual's or corporation's income.

CCA Class

Capital Cost Allowance Classes are categories in tax systems that determine the depreciation rate for tax purposes on assets.