The Virgin Islands Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan — B 231A is a legal document that outlines the process and deadlines for individuals or parties to object to any proposed modifications to a confirmed Chapter 12 plan in the Virgin Islands jurisdiction. This order is crucial in ensuring fairness and transparency within the bankruptcy system. Keywords: Virgin Islands, Order Fixing Time, Object, Proposed Modification, Confirmed Chapter 12 Plan, B 231A, bankruptcy system. Different types of Virgin Islands Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan — B 231A may include: 1. General Order Fixing Time to Object: This type of order is issued by the court to provide a specific timeframe within which individuals or interested parties can submit their objections to proposed modifications in a confirmed Chapter 12 plan. 2. Individual or Creditor-Specific Order Fixing Time to Object: In certain cases, the court may issue individual or creditor-specific orders fixing the time for objecting to proposed modifications. This ensures that all parties involved have a fair opportunity to voice their concerns or objections. 3. Extension Order Fixing Time to Object: Sometimes, the court may grant extensions to the original deadline for objecting to proposed modifications. This order provides a revised time period within which individuals or parties can submit their objections. 4. Amended Order Fixing Time to Object: In cases where there are significant changes or amendments to the proposed modifications, an amended order may be issued by the court to fix a new deadline for objecting to such modifications. This ensures that all relevant parties are aware of the revised timeline. It is important to note that the specific types of Virgin Islands Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan — B 231A may vary based on the particular circumstances of a bankruptcy case or the court's discretion. It is advisable to consult with a legal professional or review the specific order issued in a particular case for accurate and detailed information.
Virgin Islands Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan - B 231A
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Bankruptcy law provides the Trustee with the power to recover certain payments made prior to filing a case. Among these are any payments made to creditors (those to whom you owe money) within 90 days prior to filing a bankruptcy. This is a 90 day lookback period.
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.
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 .
Modification after confirmation. The court and the trustee will ask you to explain why you need to change your plan payments and provide proof of your changed circumstances (such as a job loss or a reduction in income). If satisfied, the court will order a new plan payment for the duration of your case.
Post-Confirmation means the period commencing on the date the Court enters the Confirmation Order and continuing thereafter until the case is closed by the Order of the Court.
Modification after confirmation. The court and the trustee will ask you to explain why you need to change your plan payments and provide proof of your changed circumstances (such as a job loss or a reduction in income). If satisfied, the court will order a new plan payment for the duration of your case.
In a Chapter 11 case in which the debtor is not an individual, a request for post confirmation modification must be made prior to substantial consummation of the plan. A modification is effective only if the court, after notice and a hearing, confirms the plan as modified.