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Chapter 13 Plan And Related Motions Form. This is a Virginia form and can be use in USBC Eastern Federal.
Tags: Chapter 13 Plan And Related Motions, Virginia Federal, USBC Eastern
1UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF VIRGINIA Division CHAPTER 13 PLAN AND RELATED MOTIONS Name of Debtor(s): Case No: This Plan, dated , is: the first Chapter 13 Plan filed in this case. a modified Plan that replaces the confirmed or unconfirmed Plan dated Date and Time of Modified Plan Confirmation Hearing: Place of Modified Plan Confirmation Hearing: The Plan provisions modified by this filing are: Creditors affected by this modification are: 1. Notices To Creditors: Your rights may be affected by this plan. Your claim may be reduced, modified, or eliminated. You should read this plan carefully and discuss it with your attorney if you have one in this bankruptcy case. If you do not have an attorney, you may wish to consult one. If you oppose the plan222s treatment of your claim or any provision of this plan, you or your attorney must file an objection to confirmation at least 7 days before the date set for the hearing on confirmation, unless otherwise ordered by the Bankruptcy Court. American LegalNet, Inc. www.FormsWorkFlow.com 2(1) Richmond and Alexandria Divisions: The Bankruptcy Court may confirm this plan without further notice if no objection to confirmation is filed. See Bankruptcy Rule 3015. (2) Norfolk and Newport News Divisions: a confirmation hearing will be held even if no objections have been filed. (a) A scheduled confirmation hearing will not be convened when: (1) an amended plan is filed prior to the scheduled confirmation hearing; or (2) a consent resolution to an objection to confirmation anticipates the filing of an amended plan and the objecting party removes the scheduled confirmation hearing prior to 3:00 pm on the last business day before the confirmation hearing. In addition, you may need to timely file a proof of claim in order to be paid under any plan. 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. A. A limit on the amount of a secured claim, set out in Section 4.A which may result in a partial payment or no payment at all to the secured creditor 037 Included 037 Not included B. Avoidance of a judicial lien or nonpossessory, nonpurchase- money security interest, set out in Section 8.A 037 Included 037 Not included C. Nonstandard provisions, set out in Part 12 037 Included 037 Not included 2. Funding of Plan. The debtor(s) propose to pay the Trustee the sum of $ per for months. Other payments to the Trustee are as follows: . The total amount to be paid into the Plan is $. 3. Priority Creditors. The Trustee shall pay allowed priority claims in full unless the creditor agrees otherwise. A. Administrative Claims under 11 U.S.C. 247 1326. 1. The Trustee will be paid the percentage fee fixed under 28 U.S.C. 247 586(e), not to exceed 10% of all sums received under the plan. 2. Check one box: Debtor(s)222 attorney has chosen to be compensated pursuant to the 223no-look224 fee American LegalNet, Inc. www.FormsWorkFlow.com 3under Local Bankruptcy Rule 2016-1(C)(1)(a) and (C)(3)(a) and will be paid $, balance due of the total fee of $ concurrently with or prior to the payments to remaining creditors. Debtor(s)222 attorney has chosen to be compensated pursuant to Local Bankruptcy Rule 2016-1(C)(1)(c)(ii) and must submit applications for compensation as set forth in the Local Rules. B. Claims under 11 U.S.C. 247 507. The following priority creditors will be paid by deferred cash payments pro rata with other priority creditors or in monthly installments as below, except that allowed claims pursuant to 11 U.S.C. 247 507(a)(1) will be paid pursuant to 3.C below: Creditor Type of Priority Estimated Claim Payment and Term C. Claims under 11 U.S.C. 247 507(a)(1) The following priority creditors will be paid prior to other priority creditors but concurrently with administrative claims above. Creditor Type of Priority Estimated Claim Payment and Term 4. Secured Creditors: Motions to Value Collateral (223Cramdown224), Collateral being Surrendered, Adequate Protection Payments, and Payment of certain Secured Claims. A. Motions to Value Collateral (other than claims protected from 223cramdown224 by 11 U.S.C. 247 1322(b)(2) or by the final paragraph of 11 U.S.C. 247 1325(a)). Unless a written objection is timely filed with the Court, the Court may grant the debtor(s)222 motion to value collateral as set forth herein. This section deals with valuation of certain claims secured by real and/or personal property, other than claims protected from 223cramdown224 by 11 U.S.C. 247 1322(b)(2) [real estate which is debtor(s)222 principal residence] or by the final paragraph of 11 U.S.C. 247 1325(a) [motor vehicles purchased within 910 days or any other thing of value purchased within 1 year before filing bankruptcy], in which the replacement value is asserted to be less than the amount owing on the debt. Such debts will be treated as secured claims only to the extent of the replacement value of the collateral. That value will be paid with interest as provided in sub-section D of this section. You must refer to section 4(D) below to determine the interest rate, monthly payment and estimated term of repayment of any 223crammed down224 loan. The deficiency balance owed on such a loan will be treated as an unsecured claim to be paid only to the extent provided in section 5 of the Plan. The following secured claims are to be 223crammed down224 to the following values: Creditor Collateral Purchase Date Est. Debt Bal. Replacement Value American LegalNet, Inc. www.FormsWorkFlow.com 4B. Real or Personal Property to be Surrendered. Upon confirmation of the Plan, or before, the debtor(s) will surrender his/her/their interest in the collateral securing the claims of the following creditors in satisfaction of the secured portion of such creditors222 allowed claims. To the extent that the collateral does not satisfy the claim, any timely filed deficiency claim to which the creditor is entitled may be paid as a non-priority unsecured claim. Confirmation of the Plan shall terminate the automatic stay under 247247 362(a) and 1301(a) as to the interest of the debtor(s), any co-debtor(s) and the estate in the collateral. Creditor Collateral Description Estimated Value Estimated Total Claim C. Adequate Protection Payments. The debtor(s) propose to make adequate protection payments required by 11 U.S.C. 247 1326(a) or otherwise upon claims secured by personal property, until the commencement of payments provided for in sections 4(D) and/or 7(B) of the Plan, as follows: Creditor Collateral Adeq. Protection Monthly Payment To Be Paid By Any adequate protection payment upon an unexpired lease of personal property assumed by the debtor(s) pursuant to section 7(B) of the Plan shall be made by the debtor(s) as required by 11 U.S.C. 247 1326(a)(1)(B) (payments coming due after the order for relief). D. Payment of Secured Claims on Property Being Retained (except those loans provided for in section 6 of the Plan): This section deals with payment of debts secured by real and/or personal property [including short term obligations, judgments, tax liens and other secured debts]. After confirmation of the Plan, the Trustee will pay to the holder of each allowed secured claim, which will be either the balance owed on the indebtedness or, where applicable, the collateral222s replacement value as specified in sub-section A of this section, whichever is less, with interest at the rate provided below, the monthly payment specified below until the amount of the secured claim has been paid in full. Upon confirmation of the Plan, the valuation specified in sub-section A and interest rate shown below will be binding unless a timely written objection to confirmation is filed with and sustained by the Court. Approx. Bal. of Debt or Interest Monthly Payment Creditor Collateral 223Crammed Down224 Value Rate & Est. Term E. Other Debts. Debts which are (i) mortgage loans secured by real estate which is the debtor(s)222 pri