Enables Debtors in Chapter 13 Bankruptcy to Understand Rights and Obligations, Stay Current on Repayment Plans
LAFAYETTE, Calif., Nov. 19, 2019 (GLOBE NEWSWIRE) -- National Data Center (NDC) announced today the launch of its enhanced Debtor Portal, a cloud-based information resource for debtors involved in the Chapter 13 bankruptcy process. This Portal includes information about debtors’ payment schedules and related information.
NDC is a non-profit organization with the mission of improving the success rate for debtors completing Chapter 13 bankruptcy repayment process. NDC maintains a database of Chapter 13 bankruptcy information with the goal of streamlining the process for all parties involved: debtors, debtors’ attorneys, trustees and creditors.
“The enriched Debtor Portal user interface will put critical information at the fingertips of those going through the arduous process of Chapter 13 bankruptcy,” said David Shapiro, chief operating officer of NDC. “This free information will equip debtors with information that will help them to successfully complete their 3-5 year repayment plans.”
Navigating Chapter 13 versus Chapter 7 Bankruptcy
Chapter 13 and Chapter 7 refer to respective sections of the U.S. Bankruptcy Code. In the Chapter 13 process, debtors create a plan to repay their debts to creditors over a 3-5 year period. Creditors must agree to these plans and a court-appointed trustee manages the implementation of the plan. The key advantage of the Chapter 13 process to debtors is that if they meet the terms of the plan, they emerge retaining many more of their personal assets.
In the Chapter 7 bankruptcy process, the court-appointed trustee collects and liquidates the debtor’s assets. Certain assets, such as the primary residence, are exempt from this process. While the process is much faster than Chapter 13, the debtor is left with many fewer personal assets.
NDC Introduces Other New Solutions
NDC has recently introduced other new solutions to streamline the Chapter 13 bankruptcy process. Earlier this year, it launched a Tablet that enables debtors to subscribe to the NDC at no cost. Chapter 13 trustees use these tablets during the early phase of the Chapter 13 process, such as the 341 meeting. NDC has also created a tool that enables trustees to send annual reports to debtors electronically, a requirement of the Chapter 13 process. Previously, trustees created and mailed hard copy reports, a time-consuming and expensive process.
About the National Data Center (NDC)
NDC was founded in 2001 to streamline the Chapter 13 bankruptcy process by creating and maintaining a central repository for Chapter 13 bankruptcy information. Originally launched to support the needs of the approximately 200 Chapter 13 trustees throughout the U.S., NDC has expanded its mission to support the information needs of debtors, debtors’ attorneys and creditors in addition to trustees. For more information, visit the NDC website or the organization’s LinkedIn page.
Media Contact
Katie Everett
UPRAISE Marketing + PR for National Data Center
415.397.7600
ndc@upraisepr.com