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Chapter 12 Plan (Sample And Form) LBF-14 - Montana
| Chapter 12 Plan (Sample And Form) Form. This is a Montana form and can be used in Bankruptcy Court Federal . |
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Mont. LBF 14. Chapter 12 Plan. Name of Attorney Address Phone Number (Attorney for Debtor) State Bar I.D. Number _________ UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MONTANA In re ) Case No. ) ) ) ) Debtor(s). ) ------------------------------------------------------------------------ ------------------------------------------ CHAPTER 12 PLAN ------------------------------------------------------------------------ ------------------------------------------ 1. The future earnings and projected disposable income of the debtor(s ) are submitted tothe supervision and control of the Court, and the debtor(s) shall pay to the trustee (state amountand frequency of payments, and payment dates) the sum of $ ____________ __, according to theattached exhibit of income and expenses. 2. From the payments so received, the trustee shall make disbursements as follows: (a) Allowed claims of administration required by 11 U.S.C. 507( a)(1). (b) Payments to secured creditors whose claims are duly proven and al lowed as follows: Value of Payment Name of Creditor Security (Amount and Frequency) Interest(The allowed claims of each of the creditors listed above shall be allo wed as a secured claim in theamount of the value of the security and will be paid in installments as shown until the allowedsecured claim together with interest upon the unpaid balance at the rate stated above has beenpaid. Secured creditors shall retain their liens and priority until the ir allowed secured claims havebeen paid. In order for any unsecured deficiency to be allowed and paid under paragraph 2.(d)below, a timely proof of claim must be filed pursuant to Montanas Local Bankruptcy Rules.) (c) Debts entitled to priority under and in the order prescribed by 1 1 U.S.C. <<<<<<<<<********>>>>>>>>>>>>> 2 507. (d) From the disposable income after the above payments, dividends to unsecured creditors whose claims are fully proven and allowed as follows: (If le ss than 100% of unsecured claims are to be paid, state that unsecured creditors will receive the greater of all of the debtors disposable income during the term of the plan pursuant to 11 U.S.C. 1225(b)(1)(B), or the liquidation value of the debtors non-exempt assets pursuant to 11 U.S.C. 1225(a)(4).) 3. The following executory contracts and leases of the debtor(s) are rejected, thedebtor(s) shall surrender any collateral, and any allowed unsecured cl aim for damages resultingfrom such rejection shall be paid under paragraph 2.(d) above: 4. The secured property described below will be surrendered to the foll owing namedcreditors, and any allowed unsecured claim resulting from such surrender shall be paid underparagraph 2.(d) above: 5. The following creditors claims are fully secured, shall be paid directly by the debtor(s)pursuant to the original contract terms, and shall receive no payments u nder paragraph 2. of thisPlan: 6. The property described below is to be sold (state the offering pric e, and whether it willbe offered through a broker; and if so, who; and state the date by which it will be sold and whatwill occur if it is not timely sold), all offers received by the debtor (s) shall be promptlycommunicated to the trustee and any lienholders, and no sale of such pro perty shall be completedwithout notice to the trustee and any lienholders and an opportunity pro vided for a hearing onsuch sale: 7. Interest on all unsecured claims shall have ceased on the date this case was filed. Allallowed unsecured claims of $25.00 or less may be paid in advance of oth er allowed unsecuredclaims. 8. Except as provided in this plan or in the order confirming this plan , upon confirmationof this plan all of the property of the estate shall vest in the debtor( s) free and clear of any claim orinterest of any creditor provided for by this plan, pursuant to 11 U.S.C . 1227. 9. In accordance with 11 U.S.C. 1229, the Court may, from time to time, during theterm of this plan, increase or reduce the amount of any of the installme nt payments provided forby this plan, or extend or shorten the time for any such payments, where it appears, after motionand hearing upon such notice as the Court may deem appropriate, that the debtors change incircumstances so warrants or requires. DATED this ____ day of ___________, 200_. __________________________________ Debtor __________________________________<<<<<<<<<********>>>>>>>>>>>>> 3____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MONTANA In re ) Case No. ) ) ) ) Debtor(s). ) ------------------------------------------------------------------------ ------------------------------------------ CHAPTER 12 PLAN ------------------------------------------------------------------------ ------------------------------------------ 1. The future earnings and projected disposable income of the debtor(s ) are submitted tothe supervision and control of the Court, and the debtor(s) shall pay to the trustee the sum of$ ______________, according to the attached exhibit of income and expenses. 2. From the payments so received, the trustee shall make disbursements as follows: (a) Allowed claims of administration required by 11 U.S.C. 507( a)(1). (b) Payments to secured creditors whose claims are duly proven and al lowed as follows: Value of Payment Name of Creditor Security (Amount and Frequency) Interest (c) Debts entitled to priority under and in the order prescribed by 1 1 U.S.C. 507.<<<<<<<<<********>>>>>>>>>>>>> 4 (d) From the disposable income after the above payments, dividends to unsecured creditors whose claims are fully proven and allowed as follows: ______________ _________________________________________________________________ _________________________________________________________________ ________________________________________________________________________ ____________________________________________________ _________________________________________________________________ 3. The following executory contracts and leases of the debtor(s) are rejected, the debtor(s) shall surrender any collateral, and any allowed unsecured cl aim for damages resulting from such rejection shall be paid under paragraph 2.(d) above: __________________________ 4. The secured property described below will be surrendered to the foll owing named creditors, and any allowed unsecured
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