Chapter 13 Payment Plan {10}

LOCAL BANKRUPTCY FORM NO. 10 IN TH E U N ITED STA TES D ISTR IC T C O U R T FO R TH E U N ITED S TA TES V IRGIN ISL AN D S, B AN K RU P TCY D IV ISIO N In R e: B ankruptcy N o. Chapter N o. Docum ent N o. D EB TO R (S) C H A PTE R 13 PA Y M EN T PLA N N O T IC E : T he follow ing plan contains provisions w hich may significantly affect your rights. Y ou should read this document carefully and discuss it w ith yo ur atto rney. W hen confirmed, the plan w ill bind the debtor and each creditor to its term s. O bjections m ust be filed in w riting w ith the C ourt and served upo n the debtor(s), debtors' counsel, the Trustee and any o ther entity designated b y the C ourt, at the 341 m eeting of creditors or not less than tw enty (20) days prior to the scheduled confirmation hearing. Fo r post confirm ation P lan M odifications, objections m ust be filed and notified in the same manner w ithin tw enty (20) days from its notification. T his p lan d oes not allow claim s. A ny party entitled to receive disbursem ents from the T rustee m ust file a proof of claim . T he T rustee will pay the allowed claim s, as filed, provided for in the plan, unless disallowed or expressly m odified by the C ourt and / or the term s of the pla n. If no claim is filed, the T rustee will not pay a creditor provided for in the pla n, unless ordered b y the C ourt. If the T rustee is to m ake P O ST -P E T IT IO N R E G U L A R M O N T H L Y P A Y M E N T S D IR E C T L Y to any Secured L oan, then a proof of claim m ust be filed including the follow ing inform ation: account nu m ber, address, due date and regular m onthly paym ent. Secured creditor m ust notify any change in the m onthly paym ent, six (6) m onths prior to the effective date of new paym ent. P ost-petition direct m onthly paym ents w ill not exceed the life of the plan. See the notice of com m encement of case for 341 meeting date and claims bar date, the latter is the date by w hich a proof of claim m ust be filed in order to participate o f the plan distribution. 1. The future earnings of the Debtor(s) are subm itted to the supervision and control of the Trustee and the Debtor(s) shall m ake paym ents to the Trustee: by payroll deductions, as hereinafter provided in the PAYM ENT PLAN SC HED U LE. directly 2. The Trustee shall distribute the funds so received as hereinafter provided in the DISB UR SEM ENT SC HEDULE. 3. The Confirmation Order will not vest property of the Estate on Debtor(s) until the Order discharging Debtor(s) is entered. P LA N DATED: _________________________________ POST-C ONFIR M A TIO N PR E I. P A Y M EN T P L A N SCH E D ULE A M E N D E D P LA N D A T E D : ________________________________ O TH ER TR U STEE D EB TOR FILED B Y III. DISB U RSEM EN T SCH ED UL E SE Q U EN CE $_______________ x _________ = $_________________ $_______________ x _________ = $_________________ $_______________ x _________ = $_________________ $_______________ x _________ = $_________________ $_______________ x _________ = $_________________ TOTAL = _________ $_________________ A. SE CURED C LA IM S: D ebtor represents that there are no secured claim s. Secured creditors w ill retain their liens and shall be paid as fo llow s: A D E Q U A TE P R O TE C TIO N Paym ents: Cr. __________________ $ __________________ Trustee will pay secured ARREA RS and debtor w ill pay regular m onthly paym ents directly: C r. ____________________ _______________ $ _____________________ Cr. ___________________ _______________ $ ____________________ C r. ___________________ _________________ $ ____________________ Additional Paym ents: $__________________ to be paid as a LUM P SU M within _________________ with proceeds to com e from Trustee will pay secured ARREA RS and w ill also pay regular m onthly paym ents directly (please refer to the above related notice, for im portant inform ation about this provision) : C r. ____________________ C r. ___________________ Cr. _____________________ Arrears $_______________ Arrears $______________ Arrears $________________ M onthly Pym t.$ __________ M onthly P ym t.$_________ M onthly P ym t.$___________ Trustee will pay IN FU LL Secured C laim s: Cr. ____________________ C r. ___________________ C r. ___________________ $ ____________________ $ ___________________ $ ___________________ Trustee will pay V AL U E OF CO L LA TE R A L : C r. ____________________ C r. ___________________ Cr. ____________________ $ ____________________ $ ___________________ $ ____________________ Secured C reditor's interest will be insured. INSU RANC E PO LICY will be paid through plan: C r. ____________________ Ins. C o. _________________ Prem ium : $______________ (P lease indicate in "O ther Provisions" the insurance coverage period) D ebtor SUR R EN DERS C O LLAT ER A L TO Lien H older: Sale of property identified as follows: _____________________________________________ _____________________________________________ Other: ___________________________________ _____________________________________________ _____________________________________________ Periodic Paym ents to be m ade other than and in addition to the above. $_______________ x ________ = $_________________ To be m ade: ____________________________________ P R O PO SE D B A SE: $_______________ II. A T T O R N E Y 'S F E E S To be treated as § 507 Priorities, and paid before any other creditor and concurrently with the Trustee's fees, unless otherwise provided a. b. c. Outstanding balance as per R ule 2016(b) Fee Disclosure Statem ent: $ ________________ Additional Fees: Adjusted Balance $ ________________ $ ________________ D ebtor Otherwise m aintains R EG ULAR PAY M EN TS D IR EC TLY to: ________________________________________________________________________________ B . P R IO R IT IE S. The Trustee will pay priorities in accordance with the law [§ 507 and § 1322 (a)(2)] ___________________________________________________________________________ Does not C lassify C laim s. C lassifies C. UNSEC URED P REF ER RED : Plan "Pay Ahead": _____________________ Pay 100% / C o-debtor C laims: C lass A : Other C lass: ____________________________________________________ C lass B : C r. ___________________ C r. ___________________ C r._________________ $ ____________________ $ ___________________ $ __________________ D . G E N E R AL U N SE C U R E D NO T PRE F E R R E D: W ill be paid 10 0% plus _____ % Legal Interest. W ill be paid Pro-R ata fro m any remaining funds Signed: _