Debtors’ attorneys, if you have to amend a plan to increase plan payments before confirmation, don’t make this mistake and cause your clients to become delinquent. Read on for how to use the “payment schedule” in the plan.
Must the chapter 13 trustee pay a secured creditor listed in the plan if no proof of claim has been filed? The plan language is ambiguous, but a new nonstandard provision being added to plans in the EDKY will provide clarity. Read on for more information.
If you are using “quick fix” amendments to plans instead of filing complete amended plans to make changes before confirmation, read on for a new policy restricting the use of those abbreviated plan amendments.
Where should fully secured delinquent property tax claims be listed in the new chapter 13 plan form? Debtors’ attorneys and attorneys representing mortgage creditors need to make sure these claims are listed in the plan in such a way as to ensure they are paid in full. Read on.
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.
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).
Significant changes in the Federal Rules of Bankruptcy Procedure become effective on December 1, 2017. For example:
Secured creditors will be required to file claims by the bar date.
The bar date for most claims (secured and unsecured) will be 70 days after the petition date.
The plan will need to be served like a complaint in an adversary proceeding if the plan values collateral or avoids liens.
The chapter 13 plan will change.
Read on, and learn about the July 15 deadline for commenting on the proposed local chapter 13 plan and other local rules and forms.
Our local rules mandate the use of a form chapter 13 plan, Local Form 3015-1. Here are a few notes to assist creditors’ attorneys and their clients in their review of plans filed in the EDKY. The tips are also useful for debtors’ attorneys and their staff in preparing the plan.
When you are calculating what it takes to make a plan feasible, you have to know how to account for the trustee’s percentage fee.