Texas Chapter 13 Plan (Redline Version)

• Category: Texas Bankruptcy - Official - Northern District
• State: Texas
• Control #: TX-BTXN-222
• Format: PDF

Description

Chapter 13 Plan (Redline Version) The Texas Chapter 13 Plan (Redline Version) is a form used by debtors filing for Chapter 13 bankruptcy protection in the state of Texas. It is a comprehensive document that outlines the debtor's proposed repayment plan, including the amount of money to be paid to creditors, the duration of the repayment plan, and the criteria for debt repayment. The Redline version of the plan is a version of the document that incorporates all changes and additions made since the original version was published. The Texas Chapter 13 Plan (Redline Version) is a legally binding document and must be approved by the court in order for the debtor's repayment plan to become effective. The plan is divided into sections that outline the debtor's obligations and repayment plan. These sections include the Debtor's Statement of Financial Affairs, Schedules of Assets and Liabilities, Statement of Intention, and Proposed Plan of Reorganization. Additionally, the plan includes provisions that address issues such as post-petition taxes, secured debt, unsecured debt, and priority claims. The different types of Texas Chapter 13 Plan (Redline Version) are based on the length of the repayment plan. These include the Traditional Plan, which is a 3-5 year plan; the Extended Plan, which is a 5-7 year plan; and the Modified Plan, which is a 7-10 year plan. Depending on the debtor's financial circumstances, the court may approve one of these plans or may propose an alternate plan.

The Texas Chapter 13 Plan (Redline Version) is a form used by debtors filing for Chapter 13 bankruptcy protection in the state of Texas. It is a comprehensive document that outlines the debtor's proposed repayment plan, including the amount of money to be paid to creditors, the duration of the repayment plan, and the criteria for debt repayment. The Redline version of the plan is a version of the document that incorporates all changes and additions made since the original version was published. The Texas Chapter 13 Plan (Redline Version) is a legally binding document and must be approved by the court in order for the debtor's repayment plan to become effective. The plan is divided into sections that outline the debtor's obligations and repayment plan. These sections include the Debtor's Statement of Financial Affairs, Schedules of Assets and Liabilities, Statement of Intention, and Proposed Plan of Reorganization. Additionally, the plan includes provisions that address issues such as post-petition taxes, secured debt, unsecured debt, and priority claims. The different types of Texas Chapter 13 Plan (Redline Version) are based on the length of the repayment plan. These include the Traditional Plan, which is a 3-5 year plan; the Extended Plan, which is a 5-7 year plan; and the Modified Plan, which is a 7-10 year plan. Depending on the debtor's financial circumstances, the court may approve one of these plans or may propose an alternate plan.