Chapter 13 Plan {LBF M}

LBF-M - CHAPTER 13 PLAN. This form is used in the United States Bankruptcy Court for the District of Maryland as part of a debtor’s filing in a Chapter 13 bankruptcy case. It outlines the debtor’s proposal for repaying creditors over time using the debtor’s future income. The form serves multiple purposes. It identifies whether the plan contains nonstandard provisions, whether it limits secured claims based on the value of collateral, and whether it avoids liens or security interests. The form warns creditors that their rights may be affected, including the possibility of their claims being reduced or eliminated, and notifies them of deadlines for objections. It also establishes the debtor’s proposed payment schedule and method of payment—whether in even or varying amounts, with or without additional payments such as tax refunds. The trustee is authorized to distribute plan payments according to a priority system that includes administrative expenses, domestic support obligations, secured and unsecured claims, and other specified debts. The form includes provisions for the treatment of executory contracts and unexpired leases, valuation of claims, and the surrender or retention of property. www.FormsWorkflow.com