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Simple English definitions for legal terms

wage-earner's plan

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A quick definition of wage-earner's plan:

A wage-earner's plan is a type of bankruptcy plan that is available to individuals who have a regular income. It is also known as Chapter 13 bankruptcy. This plan allows the individual to reorganize their debts and make payments over a period of time, usually three to five years. It is designed to help people who are struggling with debt to get back on their feet and become financially stable again.

A more thorough explanation:

A wage-earner's plan is a type of bankruptcy filing under Chapter 13 of the bankruptcy code. It allows individuals with regular income to create a repayment plan to pay off their debts over a period of three to five years.

John is a wage-earner who has accumulated a lot of debt due to medical bills and credit card expenses. He files for Chapter 13 bankruptcy and creates a repayment plan to pay off his debts over the next five years. He will make monthly payments to a trustee who will distribute the funds to his creditors.

Another example is Sarah, who has a steady income but is struggling to keep up with her mortgage payments. She files for Chapter 13 bankruptcy and includes her mortgage payments in her repayment plan. This allows her to keep her home and catch up on missed payments over the next few years.

These examples illustrate how a wage-earner's plan can help individuals with regular income manage their debts and avoid foreclosure or repossession of assets.

wage-assignment order | wager

General

General chat about the legal profession.

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jackfrost11770

9:38

usc pls pull through .....

jackfrost11770

9:38

i literally just need one A so i can relax before my ED decision

WorthlessAttractiveZombie

9:38

oh that's right USC might release

soapy

9:43

USC still has not looked at my app

WorthlessAttractiveZombie

9:43

when did you submit soapy?

soapy

9:44

10/16

WorthlessAttractiveZombie

9:44

to be fair it took them almost 2 months for me to go under review

soapy

9:44

Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7

WorthlessAttractiveZombie

9:45

I have not had a date change either for Mich but I've seen people get in without one so who knows

TheAdoptedOne

9:46

I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw

soapy

9:46

But do people get in without addresses going long?

WorthlessAttractiveZombie

9:46

it's tough to tell because a lot of people type out their addresses long to begin with

soapy

9:46

Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that

TheAdoptedOne

9:54

Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)

ClassyPleasantHeron

10:01

The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.

soapy

10:06

Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?

1a2b3c4d26z

10:06

Man

1a2b3c4d26z

10:07

Walkin to the bus

1a2b3c4d26z

10:07

What a good day to get into law school

ClassyPleasantHeron

10:11

@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.

soapy

10:12

Ahh, got it. Thank you for the insight!

ClassyPleasantHeron

10:14

You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.

soapy

10:15

I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.

jackfrost11770

10:22

i think it just indicates a change in status like under review or stages of review

jackfrost11770

10:23

my stanford address went long as soon as it was marked complete lmao

soapy

10:25

I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?

soapy

10:25

Also, can we send another LoR to a school that we've already applied to?

soapy

10:26

Or another essay?

FartButt790

10:30

i'll allow it

soapy

10:31

<3 thanks Fart Butt

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