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Debtor(s) Chapter 13 Plan (El Paso and Waco) - Texas
| Debtor(s) Chapter 13 Plan (El Paso and Waco) Form. This is a Texas form and can be used in Western District Bankruptcy Court Federal . |
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Exhibit #1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF TEXAS EL PASO AND WACO DIVISIONS IN RE: § § § § § CASE NO. Chapter 13 Proceeding Debtor(s) G AMENDED G MODIFIED DEBTOR(S)' CHAPTER 13 PLAN AND MOTIONS FOR VALUATION AND LIEN AVOIDANCE Creditors are hereby notified that the following Plan may be amended at any time before confirmation. Any amendment may affect your status as a creditor. The Debtor's estimate of how much the Plan will pay, projected payments, and estimates of the allowed claims may also change. The following information advises creditors of the status of the case based on the information known at the time of its preparation. Any special concerns of a creditor may justify attendance at the Meeting of Creditors and such other action as may be appropriate under the circumstances. More detailed information is on file at the Office of the United States Bankruptcy Clerk in El Paso or Waco, Texas. Local Bankruptcy Rules and Standing Orders on procedures are available at the Clerk's Office and online at www.txwb.uscourts.gov. Use of the singular word "Debtor" in this Plan includes the plural where appropriate. Plan Summary A. The Debtor's plan payment will be $__________ per month, paid by G Pay Order or G Direct Pay, for ________ months. The gross amount to be paid into the Plan is $_____________________. The Plan proposes to pay all allowed priority claims in full, all secured claims to the extent of the value of the collateral or the amount of the claim, whichever amount is provided for in Section VI below, and approximately _________ % of each unsecured allowed claim. B. THIS PLAN DOES NOT ALLOW CLAIMS. YOU MUST FILE A PROOF OF CLAIM BY THE APPLICABLE DEADLINE TO RECEIVE DISTRIBUTIONS UNDER ANY PLAN THAT MAY BE CONFIRMED. CREDITORS ARE REFERRED TO THE FEDERAL RULES OF BANKRUPTCY PROCEDURE, THE LOCAL BANKRUPTCY RULES FOR THE WESTERN DISTRICT OF TEXAS, AND THE APPLICABLE STANDING ORDER RELATING TO CHAPTER 13 CASE ADMINISTRATION FOR THIS DIVISION, FOR INFORMATION ON THESE AND OTHER DEADLINES. C. D. The value of the Debtor's non-exempt assets is $___________________. If the payment of any debt is proposed to be paid directly by the Debtor outside the Plan, it is so noted in Section VI(1), set forth below. Form 11/7/05 American LegalNet, Inc. www.FormsWorkflow.com Plan Provisions I. Vesting of Estate Property G Upon confirmation of the Plan, all property of the estate shall vest in the Debtor and shall not remain as property of the estate. G Upon confirmation of the Plan, all property of the estate shall not vest in the Debtor, but shall remain as property of the estate. G Other (describe): II. Pre-Confirmation Disbursements In accordance with the applicable Standing Order Relating to Chapter 13 Case Administration, the Debtor requests and consents to disbursement by the Chapter 13 Trustee of payments prior to confirmation of the Plan to evidence the Debtor's good faith, promote successful completion of the case, and to provide adequate protection to secured creditors. The Debtor shall remit such payments to the Trustee commencing 15 days after the filing of the petition. Provided all conditions for disbursement are met and unless otherwise ordered by the Court, the Trustee shall begin disbursing to creditors as provided below, on the first regularly scheduled disbursement after 30 days after the petition is filed. Payments under this paragraph will cease upon confirmation of the Plan. Creditor/Collateral Pre-Confirmation Payment Amount Other Treatment Remarks III. Executory Contracts/Unexpired Leases/Contracts for Deed Pursuant to 11 U.S.C. § 1322(b)(7) of the Bankruptcy Code, the Debtor hereby elects to assume the following executory contracts, unexpired leases, and/or contracts for deed, if any: Pursuant to 11 U.S.C. § 1322(b)(7) of the Bankruptcy Code, the Debtor hereby elects to reject the following executory contracts, unexpired leases, and/or contracts for deed, if any: IV. Motion to Value Collateral Pursuant to 11 U.S.C. § 506 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 amount of the claim, whichever amount is provided for in Section VI(2), hereof, plus interest thereon at the rate specified in this Plan. Except for secured claims for American LegalNet, Inc. www.FormsWorkflow.com Form 11/7/05 which provision is made to pay the full amount of the claim not withstanding 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 VI(2)(F). The Debtor(s) move(s) to value the collateral described below in the amounts indicated. The values as stated below represent the replacement values of the assets held for collateral, as required under Section 506(a)(2). Objections to valuation of collateral proposed by this Motion and Plan must be filed no later than ten (10) days prior to the confirmation hearing date. If no timely response or objection is filed, the relief requested may be granted in conjunction with confirmation of the Plan. Creditor/Collateral Estimated Claim Value of Collateral Monthly Payment or Method of Disbursement Interest Rate Anticipated Total to Pay Other Treatment/Remarks "I declare under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed on , 200 ." ___________________________________ Debtor ___________________________________ Co-Debtor V. Motion to Avoid Lien Pursuant to 11 U.S.C. § 522(f) The Bankruptcy Code allows certain liens to be avoided. If a lien is avoided, the claim will not be treated as a secured claim but as an unsecured claim under Section VI (2)(F). The Debtor moves to avoid the following liens that impair exemptions. Objections to lien avoidance as proposed in this Plan must be filed no later than ten(10) days prior to the confirmation hearing date. If no timely objection is filed, the relief requested maybe granted in conjunction with confirmation of the Plan. (Debtor must list the specific exempt property that the lien impairs and the basis of the liene.g., judicial lien, nonpurchase-money security interest, etc.) Creditor Property Subject to Lien Amount of Lien to Be Avoided Remarks VI. Specific Treatment for Payment of Allowed Claims 1. PAYM ENTS TO BE M ADE BY THE DEBTOR DIRECTLY TO CREDITORS. INCLUDING POST-PETITION DOM ESTIC SUPPORT OBLIGATION
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