The District of Columbia Order Confirming Chapter 13 Plan — B 230B is a legal document that pertains to individuals seeking to reorganize their debts through a Chapter 13 bankruptcy in the District of Columbia. This order serves to confirm and approve the debtor's proposed repayment plan for creditors under the specific provisions outlined in Plan — B 230B. Chapter 13 bankruptcy is a form of debt relief that allows individuals to create a repayment plan to gradually repay their debts over a three to five-year period. This type of bankruptcy is often suitable for individuals who have a regular income but are struggling to meet their financial obligations. The District of Columbia Order Confirming Chapter 13 Plan — B 230B verifies that the debtor's proposed repayment plan complies with the relevant laws and regulations set forth by the District of Columbia bankruptcy court. It ensures that the plan considers the debtor's income, expenses, and the amount of debt owed to various creditors. This order confirms the details of the repayment plan, such as the duration, the monthly payment amount, and the distribution of payments among various creditors. It provides legal protection to the debtor while they adhere to the agreed-upon plan. The District of Columbia may have variations of the Order Confirming Chapter 13 Plan — B 230B based on different considerations and circumstances. Some possible variations may include: 1. District of Columbia Order Confirming Chapter 13 Plan — B 230B (Individual): This variation applies to individuals filing for Chapter 13 bankruptcy in the District of Columbia. It outlines the specific provisions and requirements for individual debtors. 2. District of Columbia Order Confirming Chapter 13 Plan — B 230B (Business): This variation is applicable when a business files for Chapter 13 bankruptcy in the District of Columbia. It may have distinct provisions tailored for businesses or self-employed debtors. 3. District of Columbia Order Confirming Chapter 13 Plan — B 230B (Modified): This variation pertains to cases where the initially proposed repayment plan needs modification or amendment. It allows for changes to be made to the plan after review and approval from the bankruptcy court. Overall, the District of Columbia Order Confirming Chapter 13 Plan — B 230B signifies the court's endorsement of the debtor's repayment plan and ensures that proper procedures are followed throughout the Chapter 13 bankruptcy process. It is an essential document that provides both debtors and creditors with the necessary legal framework for debt restructuring and repayment.
District of Columbia Order Confirming Chapter 13 Plan - B 230B
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If you have a dismissed Chapter 13 case, you might be able to re-file under Chapter 7 as long as you're under the income limits. You'll also want to make sure that available bankruptcy exemptions protect all of your property since that's not typically an issue in Chapter 13.
Chapter 13 Plan Confirmation Requirements Whether your plan is practical in terms of making the required payments on time. Whether unsecured creditors will get at least the amount they would have gotten had you filed a Chapter 7 bankruptcy.
If a creditor objects to your repayment plan, you will have an opportunity to respond to the objection. If you are able to overcome the objection, then your repayment plan will be approved, and you can proceed with your bankruptcy case.
If the court confirms the plan, the chapter 13 trustee will distribute funds received under the plan "as soon as is practicable." 11 U.S.C. § 1326(a)(2). If the court declines to confirm the plan, the debtor may file a modified plan.
An objection to the confirmation of a chapter 13 plan shall be made by motion setting forth the facts and legal arguments that give rise to the objection in sufficient detail to allow the debtor to file a reply or an amended plan that addresses the objection.
This bankruptcy form Notice of Objecton to Proof of Claim and Notice of Hearing and Objection to Claim can be used in Chapter 13 bankruptcy by a debtor's attorney to object to the proof of claim of a creditor who has overstated the amount due.
If the court declines to confirm the plan or the modified plan and instead dismisses the case, the court may authorize the trustee to keep some funds for costs, but the trustee must return all remaining funds to the debtor (other than funds already disbursed or due to creditors). 11 U.S.C. § 1326(a)(2).
A Chapter 13 confirmation hearing determines whether the bankruptcy judge approves your Chapter 13 Plan. At the hearing, the bankruptcy judge will determine if your plan meets the requirements of Chapter 13. Confirmation is a big step in the Chapter 13 process.
In a Chapter 13, an objection to confirmation is basically a written statement from the Chapter 13 Trustee or a creditor of the debtor that there is something wrong with the case that needs to be fixed before the confirmation hearing.