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This document outlines the procedures and requirements for proposing modifications to a confirmed Chapter 13 plan post-confirmation, including instructions for preparing necessary forms and notices,

How to fill out post-confirmation modification of plan

How to fill out Post-Confirmation Modification of Plan and Request for its Approval

1. Obtain the Post-Confirmation Modification of Plan form from the relevant court or legal website.
2. Fill in the case number and relevant title on the form.
3. Clearly state the reasons for the modification in the appropriate section.
4. Detail the proposed changes to the original plan, making sure to include all necessary financial information.
5. Include any required supporting documents, such as updated financial statements or proof of changes in circumstances.
6. Review the completed form for accuracy and completeness.
7. Sign and date the form as required.
8. Submit the form to the court by the specified deadline, ensuring to keep copies for your records.
9. Attend any scheduled hearings related to the modification, if necessary.

Who needs Post-Confirmation Modification of Plan and Request for its Approval?

1. Debtors who have filed for bankruptcy and wish to make changes to their confirmed plan.
2. Creditors seeking to understand modifications that may affect their claims.
3. Legal representatives of parties involved in a bankruptcy case.

People Also Ask about

How do you amend a Chapter 13 plan after confirmation?

Modifying a chapter 13 plan after confirmation requires court approval. The movant must file a motion and notice with a proposed order and certificate of service indicating that the trustee, US Trustee, and affected creditors were served a copy of the motion.

Can a chapter 13 be modified?

Modifying your Chapter 13 bankruptcy plan involves proposing changes to the court-approved repayment plan. The process can be initiated by either the debtor or the Trustee. The most common ways to modify a Chapter 13 bankruptcy plan are to change the amount of the monthly payment or to extend the term of your plan.

Can you modify Chapter 13?

In order to modify your Chapter 13 plan, you will need to file a form known as a motion to modify a confirmed Chapter 13 plan, which might also be described as a motion to amend a confirmed plan.

Can a plan be modified after confirmation of a chapter 11 plan?

Under subsection (c) a party in interest objecting to some feature of a plan may submit a proposal to modify the plan to meet the objection. After a plan has been confirmed, but before its substantial consummation, a plan may be modified by leave of court, which subsection (d) provides shall be granted for good cause.

Can a Chapter 13 be amended?

Modifying a chapter 13 plan after confirmation requires court approval. The movant must file a motion and notice with a proposed order and certificate of service indicating that the trustee, US Trustee, and affected creditors were served a copy of the motion.

What happens after Chapter 11 plan is confirmed?

Upon confirmation, the effective date is set, and the debtor begins implementing the plan provisions, including, but not limited to, reorganizing business operations, liquidating the debtor or select assets, completing litigation, and making distributions to creditors.

Can you amend a Chapter 13 plan after confirmation?

Any party with an interest in a Chapter 11 proceeding may object to the reorganization plan before the Bankruptcy Court judge has confirmed it. But, if the majority of one class of creditors representing two-thirds of the amount owed that class approves the bankruptcy plan, it will be confirmed over most objections.

What happens if my income changes during Chapter 13?

This plan is based on your income, expenses, and types of debt. If your income increases while you're in a Chapter 13 case, you're generally required to report this to the bankruptcy trustee. The trustee may adjust your repayment plan based on your new income level.

What is the average Chapter 13 monthly payment?

A Chapter 13 petition for bankruptcy will likely necessitate a $500 to $600 monthly payment, especially for debtors paying at least one automobile through the payment plan. However, since the bankruptcy court will consider a large number of factors, this estimate could vary greatly.

For pdfFiller’s FAQs

What is Post-Confirmation Modification of Plan and Request for its Approval?

Post-Confirmation Modification of Plan and Request for its Approval refers to a legal procedure in bankruptcy cases where a debtor seeks to modify the terms of their repayment plan after it has already been confirmed by the court.

Who is required to file Post-Confirmation Modification of Plan and Request for its Approval?

The debtor is required to file the Post-Confirmation Modification of Plan and Request for its Approval in order to change the terms of their confirmed plan.

How to fill out Post-Confirmation Modification of Plan and Request for its Approval?

To fill out the request, debtors must provide specific details regarding the changes being made to the plan, including the reasons for modification, and ensure all required supporting documentation is attached.

What is the purpose of Post-Confirmation Modification of Plan and Request for its Approval?

The purpose is to allow the debtor to adjust their repayment terms to better align with changes in their financial situation or to resolve issues that may have arisen since the initial confirmation.

What information must be reported on Post-Confirmation Modification of Plan and Request for its Approval?

The report must include details such as the specific modifications proposed, the reasons for these modifications, the impact on creditors, and any changes in the financial circumstances of the debtor.