Florida Order Confirming Chapter 13 Plan — B 230B is a legal document specific to the state of Florida that plays a crucial role in the Chapter 13 bankruptcy process. This document confirms the approval of a debtor's proposed payment plan by the bankruptcy court. The Chapter 13 bankruptcy is a form of debt relief that allows individuals with regular income to develop a plan to repay all or a portion of their debts over a specific period, usually three to five years. The Order Confirming Chapter 13 Plan — B 230B is one of the various types of orders that can be issued by the bankruptcy court during a Chapter 13 bankruptcy case. It signifies the acceptance and confirmation of the debtor's proposed payment plan and outlines the terms and conditions that govern the repayment process. In Florida, there may be other variations or types of orders confirming Chapter 13 plans, differentiated by suffixes or specific form numbers. These variations may exist to accommodate different situations or procedural requirements under Florida bankruptcy laws. Examples of other possible types of confirmed Chapter 13 plan orders in Florida could include: 1. Florida Order Confirming Chapter 13 Plan — B 230B (Amended): Used when modifications or amendments are made to the original plan that was initially confirmed. 2. Florida Order Confirming Chapter 13 Plan — B 230B (Supplemental): Issued when supplemental provisions or additional instructions are required to be incorporated into the plan due to specific circumstances or changes in the debtor's financial situation. 3. Florida Order Confirming Chapter 13 Plan — B 230B (Final): Used when the debtor successfully completes the repayment plan, fulfilling all obligations outlined in the original confirmed plan, thus concluding the Chapter 13 bankruptcy process. It is essential to consult with a qualified bankruptcy attorney in Florida to understand the specific requirements and implications of each type of Order Confirming Chapter 13 Plan — B 230B. This will ensure compliance with the relevant laws and proper execution of the bankruptcy process, while helping debtors regain a fresh financial start and work towards a debt-free future.
Florida Order Confirming Chapter 13 Plan - B 230B
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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 order confirming the chapter 13 plan is a Bankruptcy judge's approval of the Debtor's proposed chapter 13 repayment plan. For more information, see 11 U.S.C. §1325 .
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).
The chapter 13 trustee may file an objection to the confirmation of an amended plan no later than fourteen (14) days from the date the amended plan is filed or five (5) days before the date set for the first confirmation hearing, whichever is earlier.
For most creditors the objection is about whether or not they are being treated correctly under the law. For the trustee the objection is usually about how a class of creditors is being treated and whether the plan complies with the requirements of the law on the whole.
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).
Any Chapter 13 debtor who receives an objection to confirmation should first take a deep breath and relax. Then, they should pick up the phone and call their bankruptcy attorney and ask for an explanation of the objections. In the vast majority of cases, the objections can easily be fixed.
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.