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Debtor(s) Chapter 13 Plan (Austin) - Texas
| Debtor(s) Chapter 13 Plan (Austin) Form. This is a Texas form and can be used in Western District Bankruptcy Court Federal . |
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Exhibit L IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF TEXAS AUSTIN DIVISION IN RE: § § § § § CASE NO. Debtor(s) Chapter 13 Proceeding DEBTOR(S)' CHAPTER 13 PLAN AMENDED AND MOTIONS FOR VALUATION AND LIEN AVOIDANCE Plan Summary A. The Debtor's Plan Payment is scheduled at __________ per month [ Pay Order, Direct Pay] for ________ months. The gross amount to be paid into the plan is _____________________. The Plan proposes to pay all allowed priority, special class and secured claims and approximately ___________ % of the unsecured allowed claims. THIS PLAN DOES NOT ALLOW CLAIMS. You must file a proof of claim to receive distributions under any plan. Other than adequate protection payments, disbursements will begin after entry of an order of confirmation of the plan. Value of non-exempt assets ___________________. B. C. D. Current monthly income ______________, - expenses ____________ = available for plan __________. E. The total amount to be paid into the Plan shall be increased for tax refunds as set forth in the Standing Order for Chapter 13 Case Administration in this Division. These additional receipts shall be disbursed according to the provisions of the Plan. IRS or Debtor(s) are directed to forward refund to the Trustee. Special Plan Provisions American LegalNet, Inc. www.FormsWorkFlow.com Plan Provisions I. Vesting of Estate Property Upon confirmation of the plan, all property of the estate shall (shall not) vest in the Debtor(s), and shall not (shall) remain as property of the estate subject to the automatic stay of 11 U.S.C. §362. II. Executory Contracts/Unexpired Leases/Contracts for Deed Pursuant to 11 U.S.C. §1322(b)(7) of the Bankruptcy Code, the Debtor(s) hereby elects to assume the following executory contracts, if any: Pursuant to 11 U.S.C. §1322(b)(7) of the Bankruptcy Code, the Debtor(s) hereby elects to reject the following executory contracts, if any: III. Specific Treatment for Payment of Allowed Claims 1. DIRECT PAYMENTS BY DEBTOR TO CREDITORS; SURRENDER OF COLLATERAL A. Debtor shall pay the following creditors directly: Creditor Name Payment Remarks Debt Amount Monthly B. Debtor shall surrender the following collateral: Creditor Name Surrendered In Full Satisfaction (Yes/No) Debt Amount Collateral C. Creditor's Direct Communication With Debtors Creditors whose claims are scheduled to be paid directly by the debtor(s), including creditors with claims secured by real property or vehicles, are authorized to send monthly statements to the debtor(s). They are also authorized to communicate directly with the debtor(s) in response to a debtor's questions about monthly payments, escrow accounts, account balances, increases in monthly payments, and other routine customer service inquires. 2. PAYMENTS BY TRUSTEE A. Administrative Expenses (including Attorney's fees) The Trustee may receive up to 10% of all sums disbursed, except on any funds returned to the debtor. Creditor Estimated Amount of Debt Monthly Payment Amount American LegalNet, Inc. www.FormsWorkFlow.com B. Ongoing Mortgage Payments The Trustee shall pay all post-petition monthly mortgage payments on claims against real property that were delinquent on the petition date ("Ongoing Mortgage Payments"). The Ongoing Mortgage Payments will be in the amount stated in the allowed proof of claim or as fixed by Court order. If the debtor makes a Plan payment that is insufficient for the Trustee to disburse all Ongoing Mortgage Payments required below, such payments will be disbursed in the order listed below. The Trustee shall hold debtor payments until a sufficient amount is received to make a full Ongoing Mortgage Payment. The debtor shall provide to the Trustee all notices received from Mortgage Creditors including statements, payment coupons, impound and escrow notices, default notifications, and notices concerning changes of the interest rate on variable interest rate loans. The automatic stay is modified to permit Mortgage Creditors to issue such notices. Changes to the monthly Ongoing Mortgage Payment or the addition of post-petition mortgage fees and charges shall be effectuated pursuant to the Standing Order Relating to Ongoing Mortgage Payments in Chapter 13 Cases in the Austin Division. Monthly Mortgage Payment (proof of claim controls) Paid by Trustee OR Paid Direct by Debtor (select one) Mortgage Creditor Property Address Monthly Late Charge Interest Rate Payment Due Date C. Secured Claims Mortgage Arrearage, Real Property The Plan will cure pre-petition arrearage claims pursuant to the payment schedule set forth below. The allowed arrearage claim will be the amount of the allowed proof of claim or as fixed by court order. Creditor Property Address/ Description of Collateral Estimated Claim Mo. Pmt or Method of Disbursement Interest Rate (if applicable) Other remarks D. Secured Claims Personal Property; Adequate Protection Payments; MOTIONS TO VALUE COLLATERAL The Trustee shall pay allowed secured claims, which require the filing of a proof of claim, to the extent of the value of the collateral or the full amount of the claim, as specified below, plus interest thereon at the rate specified in this Plan. Failure of the secured creditor to object to the proposed value will be deemed acceptance of the plan under Section 1325(a)(5)(A). Except for secured claims for which provision is made to pay the full amount of the claim notwithstanding the value of the collateral, the portion of any allowed claim that exceeds the value of the collateral shall be treated as an unsecured claim under Section III(2)(E). In the first disbursement following the filing of a claim by a creditor holding an allowed claim secured by personal property, the Trustee shall commence making adequate protection payments in the amount set out below, unless otherwise ordered by the Court. Such payments shall cease upon confirmation of the plan. Creditor/Collateral Adequate Protection Payment Other Treatment/Remarks American LegalNet, Inc. www.FormsWorkFlow.com The Debtor moves to value collateral described below in the amounts indicated. The Debtor(s) declares, under penalty of perjury, that the foregoing values as stated in the above Motion and the Plan for the secured debt are true and correct and to the best of their knowledge represent the replacement value, pursuant to Section 506(a)(2), of the assets held for collateral. __________________________________ ______________________________________ Debto
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