The new chapter 13 plan form has been in use for a month. Some aspects of the form work well, but attorneys for debtors and for creditors need to be aware of common glitches and problems to watch for.
This post includes a little bit of information on several topics:
– last week’s increase in the prime rate of interest;
– bar dates in cases that convert to chapter 13;
– estimating trustee’s fees in the plan;
– problems with 522(f) lien avoidance calculations in the plan.
When I see a similar court order entered in several cases, I begin to watch for new developments or trends. Is the court communicating a new policy? Are different attorneys making the same mistake? Read on to learn about two common errors the court is trying to correct on a case-by-case basis.
MS Word versions of the following forms are available for download:
Chapter 13 Plan (12/1/17);
Order for Adequate Protection (12/1/17);
sample motion and order for adequate protection (optional, for use by creditors).
Here is a brief summary of the changes to federal and EDKY local rules and forms that become effective starting in cases filed Friday, December 1.
Amended Rule 3007, effective December 1, 2017, will impose stricter notice and service requirements for objecting to claims. Continue reading to learn about the new rules governing claim objections.
Effective with cases filed on or after December 1, 2017, creditors will have only 70 days from the petition date within which to file proofs of claims (not 90 days from the 341 date). In addition, the bar date will apply to secured creditors as well as unsecured creditors. Read on for more information.