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Florida Motion To Modify Chapter 13 Plan

Florida Motion To Modify Chapter 13 Plan

Name: Florida Motion To Modify Chapter 13 Plan
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.79 (397 reviews)

Category:

Florida Bankruptcy - Official - Northern District - Chapter 13

State:

Florida

Control #:

FL-SKU-0083

Format:

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Description

Motion To Modify Chapter 13 Plan A Florida Motion To Modify Chapter 13 Plan is a legal process used by a debtor filing for bankruptcy in the state of Florida to alter the terms of their Chapter 13 repayment plan. This motion allows for the debtor to adjust the amount they are paying each month, the length of their repayment plan, or both. There are three types of Florida Motion To Modify Chapter 13 Plans: an Above-Median Income Motion, a Below-Median Income Motion, and a Lump Sum Payment Motion. The Above-Median Income Motion is used when a debtor’s income is greater than the median income of their state. This motion allows for the debtor to modify the length of their repayment plan as well as the amount they are paying each month. The Below-Median Income Motion is used when a debtor’s income is below the median income of their state. This motion allows for the debtor to modify either the amount they are paying each month or the length of their repayment plan. Lastly, a Lump Sum Payment Motion is used to pay off the remaining balance of a debtor’s repayment plan in one lump sum. This motion is typically used when a debtor has come into a large sum of money and wants to pay off their debt.

A Florida Motion To Modify Chapter 13 Plan is a legal process used by a debtor filing for bankruptcy in the state of Florida to alter the terms of their Chapter 13 repayment plan. This motion allows for the debtor to adjust the amount they are paying each month, the length of their repayment plan, or both. There are three types of Florida Motion To Modify Chapter 13 Plans: an Above-Median Income Motion, a Below-Median Income Motion, and a Lump Sum Payment Motion. The Above-Median Income Motion is used when a debtor’s income is greater than the median income of their state. This motion allows for the debtor to modify the length of their repayment plan as well as the amount they are paying each month. The Below-Median Income Motion is used when a debtor’s income is below the median income of their state. This motion allows for the debtor to modify either the amount they are paying each month or the length of their repayment plan. Lastly, a Lump Sum Payment Motion is used to pay off the remaining balance of a debtor’s repayment plan in one lump sum. This motion is typically used when a debtor has come into a large sum of money and wants to pay off their debt.

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FAQ

Unfair treatment of creditors - A creditor may argue that the Chapter 13 plan unfairly discriminates against them in comparison to other creditors included in the plan. This can occur if, for example, one creditor is being paid a significantly lower percentage of the debt owed to them as compared to another creditor.

There is a way to change your Chapter 13 plan components. The Court may be petitioned for a modification due to changes in your circumstances. Modifications are most often requested by the debtor, but it is not unheard of that a trustee or an unsecured creditor may make such a request.

A motion to modify a confirmed Chapter 13 plan (also called a motion to amend confirmed plan) is filed typically by the debtor, but these motions can also be filed by the trustee or a creditor with an allowed, unsecured proof of claim. 11 U.S.C. § 1329.

As part of the process, the debtor must submit a repayment plan for court approval. But other people with an interest in the bankruptcy case can also make their opinions known. The bankruptcy trustee assigned to the case and any of the creditors seeking repayment can file objections to the debtor's proposed 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.

Possible objections to Chapter 13 bankruptcy plans Lack of good faith ? Creditors are entitled to receive at least as much in a Chapter 13 as they would if the debtor had filed a Chapter 7 liquidation.Inaccurate listing of debt ? The plan must list the debtor's full amount of unsecured debt.

LBR 3015-1(n) provides the procedure for a debtor to ask the court for permission to modify the chapter 13 plan after the plan was confirmed. FRBP 3015(h) provides that a debtor must give at least 21-days of notice of the deadline to file an objection to modifying a confirmed chapter 13 plan.

Objections must be filed within 21 days after the conclusion of the 341 meeting. Plan can be confirmed without further notice or hearing absent timely objections.

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§ 1329. The motion requests modification of plan payments due to circumstances that arose after confirmation and necessitate an adjustment.The plan, if modified, would be completed within sixty (60) months from commencement of the case. In practice, a debtor will need to file a Motion to Modify Chapter 13 Plan and serve the papers on all of creditors as well as the court and trustee. The motion will include the changes you need to make, including any back payments for which you may be seeking forgiveness. A confirmed plan can only be modified with a new notice and a court hearing. To obtain a plan moratorium or modification, you must file a motion, either on your own or through counsel, with the bankruptcy court. Trustee's motion for a Plan modification requiring payment of interest on the filed unsecured claims; and debtor's objection thereto. 13 Trustee filed the subject Motion to Modify Confirmed Plan pursuant to 11 U.S.C. §1329(a). In chapter 11, you may continue to operate your business, but your creditors and the court must approve a plan to repay your debts.

Florida Motion To Modify Chapter 13 Plan

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How to fill out Florida Motion To Modify Chapter 13 Plan?

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How does a creditor object to a Chapter 13 plan?

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Can a creditor object to a Chapter 13 plan after confirmation?

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