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Chapter 13 Plan And Related Motions - Virginia
| Chapter 13 Plan And Related Motions Form. This is a Virginia form and can be used in USBC Eastern Federal . |
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UNITED STATES BANKRUPTCY COURT ________ 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, which re places the plan dated ____________________ . The plan provisions modified by this filing are: Creditors affected by this modification are: NOTICE: YOUR RIGHTS WILL BE AFFE CTED. You should read these papers carefully. If you oppose any provision of this plan, or if you oppose any included motions to (i) value collateral, (ii) avoid liens, or (iii) assume or reject unexpired leases or executory contracts, you MUST file a timely written objection. This plan may be confirmed and be come binding, and the included motions in paragraphs 3, 6, and 7 to value colla teral, avoid liens, and assume or reject unexpired leases or executory contracts may be granted , without further notice or hear ing unless written objection is filed on or before _____________ an d the objecting party appears at the confirmation hearing. The debtor(s) schedules list assets and liabilities as follows: Total Assets: Total Non-Priority Unsecured Debt: Total Priori ty Debt: Total SeDcured ebt: Page 1 of 6 American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 2 1. Funding of Plan. The de btor(s)propose to pay the trustee the sum of $_________ per ____f _o_nr ____ mo___ths. Other payments to the Trustee are as follows: __________________________________________. The total amount to be paid into the plan is $____________. 2. Priority Creditors. The Trustee shall pay allowed priority claims in full unless the creditor agrees otherwise. A. Administrative Claims under 11 U.S.C. 1326. 1. The Trustee will be paid 10% of all sums disbursed except for funds returned to the debtor(s). 2. Debtor(s) attorney will be paid $____________ balance due of the total fee of $____________ concurrently with or prior to the payments to remaining creditors. B. Claims under 11 U.S.C. 507. The following priority creditors will be paid by deferred cash payments pro rata with other priority creditors or in monthly installments as below: Creditor Type of Priority Estimated Claim Payment and Term 3. Secured Creditors and Motions to Value Collateral. This paragraph provides for claims of creditors who hold debts that (a) regardless of term, are being bifurcated into secured and unsecured portions , (b) do not have a term longer than the length of this plan, or (c) are not secured solely by the debtor(s) principal residence. A. Collateral to be retained. The following creditors shall retain their liens and be paid as indicated below. Insurance will be maintained at the debtor(s) expense, in accordance with the terms of the contract and security agreement. The debtor(s) move to value the collateral as stated below. The Trustee shall pay allowed secured claims the value stated below or the amount of the claim, whichever is less, with interest at the rate stated below from the date of confirmation until the secured claim is paid in full. The excess of the creditors claim over the stated value shall be treated as an unsecured claim. Upon completion of the plan, the creditor shall release its lien and deliver any certificate of title to the debtor(s). Unless a written objection to the valu e below is timely filed with the Court, the Court may determine that the collateral is worth the value stated. If a timely objection is filed, the value will be dete rmined by the Court at the confirmation hearing. Collateral Collateral Estimated Interest Monthly Creditor Description Value Claim Rate Payment and term* * These secured claims will be paid by the Trustee either on a fixed monthly basis as stated or pro rata with other secured claims. Page 2 of 6 American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 3 B. Collateral to be surrendered. Upon confirmation of the plan, or before, the debtor will surrender his or her interest in the collateral securing the claims of the following creditors in satisfaction of the secured portion of such creditors allowed claims. To the extent that the collateral does not satisfy such creditors claim, the creditor may hold a non-priority, unsecured claim for a timely filed deficiency claim. The order confirming the plan shall have the effect of terminating the automatic stay as to the collateral surrendered. Creditor Collateral Description Estimated Total Claim 4. Unsecured Claims. A. Not separately classified . Allowed non-priority unsecured claims shall be paid pro rata from any distribution remaining af ter disbursement to allowed secured and prioirty claims. Estimated distribution is approximately ____ %. If this case were liquidated under Chapter 7, the debtor(s) estimate unsecured creditors would receive a dividend of approximately _____ %. B. Separately classified unsecured claims . Creditor Basis for Classification Treatment 5. Long Term Debts and Claims Secured by the Debtor(s) Primary Residence. Creditors listed below are either secured by the debtor(s) principal residence or hold a debt the term of which extends beyond the term of this plan. A. Debtor(s) to pay claim directly . The creditors listed below will be paid by the debtor(s) pursuant to the contract without modification, except that arrearages, if any, will be paid by the Trustee either pro rata with other secured claims or on a fixed monthly basis as indicated below. R egular M onthly C ontract Estimated Interest Estimated Arrearage Creditor Collateral Payment Arrearage Rate Cure Period Payment Page 3 of 6 American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 4 B. Trustee to pay the contract payments and the arrearages . The creditors listed below will be paid by the Trustee the regular contract monthly payments during the term of this plan. The arrearage claims, if any, will be cured by the Trustee by payments made either pro rata with other secured claims or by fixed monthly payments as indicated below. R egular Contract Estimated Interest Term for Monthly Creditor Collateral Payment Arrearage Rate Arrearage payment 6. Executory Contracts and Unexpired Leases. The debtor(s) move for assumption or rejection of the executory contracts and leases listed below. A. Executory contracts and unexpired leases to be rejected. The debtor(s) reject the following executory contracts. Creditor Type of Contract B. Executory contr
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