1 UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF TEXAS DIVISION IN RE: 247 CASE NO. 247 247 Chapter 13 Debtor(s) 247 CHAPTER 13 PLAN AND MOTIONS FOR VALUATION AND LIEN AVOIDANCE AMENDED If you oppose the Plan222s treatment of your claim or any provisions of this Plan, YOU MUST FILE AN OBJECTION to confirmation no later than fourteen (14) days before the confirmation hearing date. Use of the singular word 223Debtor224 in this Plan includes the plural where appropriate. All section references (223247224) are to the Bankruptcy Code unless otherwise noted. The following matters may be of particular importance. Debtors must check one box on each line to state whether or not the Plan includes each of the following items. If an item is checked as 223Not Included224 or if both boxes are checked, the provision will be ineffective if set out later in the Plan. 1. Plan Overview 1.1 A limit on the amount of secured claim based on valuation of collateral for the claim, set out in Sections 7.8 and 7.9, which may result in a partial payment or no payment at all to the secured creditor Included Not Included 1.2 Avoidance of a wholly unsecured lien or judicial lien or nonpossessory, nonpurchase-money security interest, set out in Sections 7.9 and 7.10 Included Not Included 1.3 Nonstandard provisions, set out in Section 8 Included Not Included 2. Plan Summary 2.1 Debtor222s Plan payment will be $ per month, paid by 3rd Party Epay (if accepted by Trustee), Payroll Order, or Direct (Money Order or Cashier222s Check). Variable payments, if applicable, are proposed as follows: American LegalNet, Inc. www.FormsWorkFlow.com 2 EXAMPLE: Months Amount of Monthly Payment 122624 $500 2522660 $750 The term of the Plan is months. The gross amount to be paid to the Trustee (sometimes, the 223base amount224) is $. 2.2 Under this Plan, the Trustee will pay all allowed priority claims in full; all allowed secured claims to the extent of the value of the collateral or the amount of the claim, whichever amount is provided for in Sections 7.7 and 7.8; and approximately % to allowed general unsecured claims. The specific treatment for each class of creditors is set forth below in the Plan. This Plan does not allow claims. A creditor must file a proof of claim by the applicable deadline to receive distributions under the plan as confirmed. Creditors are referred to the Federal Rules of Bankruptcy Procedure, the Local Bankruptcy Rules for the Western District of Texas, and the Standing Order for Chapter 13 Administration for this Division for information on procedures and deadlines. 2.3 The aggregate value of Debtor222s non-exempt assets is: $ . 3. Vesting of Estate Property Upon confirmation of the Plan, all property of the estate shall vest in the Debtor, shall not remain property of the estate, and shall not be subject to the automatic stay of 247 362; provided however, in the event of conversion of this case to chapter 7 the property of the Debtor as of the petition date should revest in the estate. Upon confirmation of the Plan, all property of the estate shall not vest in the Debtor, shall remain property of the estate, and shall remain subject to the automatic stay of 247 362. 4. Tax Refunds and Annual Tax Returns 4.1 Tax Refunds. All tax refunds received by Debtor (or either Debtor if a joint case) while the chapter 13 case is pending shall be allocated as set forth below: 1) The total amount of the aggregate tax refund(s) received for any tax period that exceeds $2,000.00 shall, upon receipt, be paid and turned over to the Trustee as additional disposable income and such amount shall increase the base amount of the Plan. The Plan shall be deemed modified accordingly, and the Trustee will file a notice of plan modification within 21 days of receipt of the tax refund; 2) This $2,000.00 annual limit shall apply to both joint-debtor and single-debtor cases; 3) The $2,000.00 otherwise retained by Debtor must first be applied to any Plan arrearages; American LegalNet, Inc. www.FormsWorkFlow.com 3 4) Notwithstanding subparagraph (1) above, Debtor may file a notice to retain the portion of the tax refund otherwise payable to the Plan under subparagraph (1) with twenty-one (21) day negative notice as set forth in Local Rule 9014(a) if, at the time of receipt of a refund, Debtor222s Plan provides for the payment of 100% of allowed general unsecured claims within the term of this Plan. If the Trustee does not object within the twenty-one (21) day negative notice period, Debtor may retain that portion of the tax refund. The Trustee is hereby authorized to endorse a tax refund check if the check is made payable to Debtor. 4.2 Annual Tax Returns. Debtor shall provide a copy of the annual post-petition income tax return to the Trustee if requested to do so or if required to do so pursuant to the Standing Order for Chapter 13 Administration for the division in which this case is pending. If this is a joint case, each Debtor shall comply with this provision if separate returns are filed. 5. Pre-Confirmation Adequate Protection Payments Pre-confirmation adequate protection payments under 247 1326(a)(1) and 247 502(b) shall be made as provided below, and pursuant to the Standing Order for Chapter 13 Administration for the division in which this case is pending: A. All pre-confirmation payments if required by 247 1326(c) and proposed below will be made by the Chapter 13 Trustee without further order of the Court. Such payments shall be considered payments pursuant to 247 1326(a) and 28 U.S.C. 247 586(e). B. If the Debtor fails to make the required plan payments and funds on hand are not sufficient to pay all pre-confirmation adequate protection payments due, then such payments shall be paid on a pro rata basis, with the exception of ongoing monthly mortgage payments made by the Trustee. C. Monthly pre-confirmation adequate protection payments will be calculated from the date the first plan payment is due. To receive adequate protection payments, a secured creditor must have on file with the Clerk of the Court a timely filed and allowed proof of claim. The proof of claim must include proof of the creditor222s security interest and shall be served on the Chapter 13 Trustee, the Debtor and Debtor222s attorney. The Trustee will thereafter commence disbursement of pre-confirmation adequate protection payments in the next regularly scheduled monthly disbursement following the filing of the claim, subject to normal operating procedures. D. The Debtor proposes the following pre-confirmation adequate protection (223AP224) payments. The Trustee shall apply pre-confirmation adequate protection payments to accrued interest, if applicable, and then to principal. AP payments shall cease upon confirmation of the Plan. American LegalNet, Inc. www.FormsWorkFlow.com 4 Creditor & Collateral Monthly AP Payment Interest Rate, If Claim is Over Secured Other Treatment Remarks 6. Executory Contracts / Unexpired Leases / Contracts for Deed 6.1 Pursuant to 247 1322(b)(7) and 247 365, Debtor hereby elects to assume the following executory contracts, unexpired leases, and/or contracts for deed as follows: Creditor Property or Contract Description Current Monthly Payment to be Paid Directly by the Debtor 6.2 Pursuant to 247 1322(b)(7) and 247 365, Debtor hereby elects to reject the following executory contracts, unexpired leases, and/or contracts for deed: Creditor Property 7. Treatment of Claims 7.1 Administrative Claims & Request for Attorney Fees. The Trustee shall collect the allowed statutory Trustee fee upon receipt of all monies paid by or on behalf of Debtor. All other administrative claims, including Debtor222s attorney fees, shall be paid according to the terms of this Plan. Upon confirmation of the Plan, the Court approves and awards $ to Debtor222s attorney as an administrative claim for legal services performed in this case in accordance with the applicable benchmark. Debtor222s attorney may file applications for an additional award of attorney fees pursuant to the Bankruptcy Code, Local Bankruptcy Rules for the Western District of Texas, and the Standing Order for Chapter 13 Administration