Free Chapter 13 Plan - Illinois

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CHAPTER 13 PLAN This plan contains evidentiary matter which, if not controverted, may be accepted by the Court as true. Creditors cannot vote on this plan but they may object to its confirmation pursuant to Bankruptcy Code 1324. Any objection must be in writing and must be filed with the Court and served upon the debtor, debtor's counsel (if any), and the Chapter 13 Trustee on or before the confirmation date stated in the 341 meeting notice. Absent any such objection, the Court may confirm this Chapter 13 plan without a hearing. I. FUNDING OF PLAN The debtor is an individual who owed, on the date of the filing of the petition commencing this case, noncontingent, liquidated and unsecured debts totaling $_____________ and noncontingent, liquidated and secured debts totaling $_____________. Debtor(s) will apply the following: A. Debtor's Net Monthly Income Monthly take home pay: Plus other income: Minus expenses: Surplus: Payments Amount and frequency: X Monthly ______ Bi-weekly Duration: _____ Months

$_____________ $_____________ $_____________ $_____________ $_____________ _____ Semi-monthly _____ Weekly


Debtor(s) are also to pay $_____________per _____ extra to the Trustee for payment of claims listed in Paragraph III(I)(3), for a total payment of $_________________ per _______. Source: X Debtor's employer _____ Direct payments from debtor(s)

NAME AND ADDRESS OF PAYOR DESIGNATED ABOVE: ____________________________________________ ____________________________________________ C. Other Payments (For example, proceeds of sale, recovery on lawsuit, tax refund) Estimated Date of Receipt Estimated Amount Source


PRECONFIRMATION DISBURSEMENT Preconfirmation disbursements will be made by the Trustee in accordance with paragraph II of the "Instructions for Chapter 13 Plans." PAYMENTS TO CREDITORS Payments to creditors will be made only if a claim is filed and allowed. The amounts and classifications stated are debtor's estimate of claims. The allowed claim amount and classification will control. From the payments received from debtor(s), the Trustee shall make disbursements in the following order: A. Administrative Claims 1. 2. 3. Filing fee (unpaid portion) Notice fees ($0.50 per page per name on matrix) Attorney's fees: (See IIIA(3) Instructions) The debtor and debtor's attorney have elected: Option 1 _____ Option 2 X for the payment of attorney's fees. Total fees requested $2,200.000, from which the sum of $300.00 shall be paid prior to the distribution to other creditors. 4. 5. 6. Trustee's fee: A percentage, set by the U.S. Trustee, of each distribution. (See IIIA(4) instructions) Auto insurance premiums: (See IIIA(5) Instructions) $____________ $____________ $____________


Attorney Notice Fee: After an Order by the Court is entered granting noticing fees, the Trustee will pay these fees as an administrative claim.


Past due real estate taxes: Past due real estate taxes are owed on debtor's property as follows:

Tax Year

Parcel Number

Tax Deed Case No. (if sold)

Purchaser (if sold)

Estimated Amount * to be paid

*Amount should include projected post-petition penalty and fees to date of payment. _____(1) The following such taxes shall be paid by the Trustee to the County Clerk of _____________County, Illinois Tax Year Parcel Number Not later Than

_____(2) The following such taxes shall be paid by the Trustee pursuant to stipulation with the tax purchaser, a copy of which is attached: Tax Year Parcel Number Purchaser

_____(3) The following such taxes shall be paid outside the plan by a co-owner of the real estate: Tax Year Parcel Number Co-owner

_____(4) The following such taxes shall be paid outside the plan by the debtor(s): Tax Year Parcel Number


Home Mortgages/Residential Mobile Homes: Monthly payments on mortgage(s) secured by debtor's residence shall be paid: _____ By the Trustee. _____ By the debtor(s) directly to the creditor(s), unless an arrearage claim is filed and allowed, in which case the Trustee may move to increase the plan payments by an amount sufficient to pay the current mortgage payment and arrearage claim inside the plan and the debtor(s) will not object. Creditor Estimated Monthly Payment First Payment Due At Filing

The Trustee will pay 100% of arrearages plus interest at the rate of 0 %: _____ Pro-rata with other secured claims _____ In equal monthly installments for _____ months. The amount of arrearage is estimated to be: First mortgage $_______________ Second mortgage $_______________ D. Continuing Claims: The following claims on which the last payment is due after the finalpayment under the plan is due will be paid according to the terms of the original agreement. The Trustee will make the current monthly payments as follows: Creditor Estimated Monthly Payment First Payment Due Estimated Arrearage

The Trustee will pay 100% of arrearages: _____Pro-rata with other secured claims _____In equal monthly installments for _____ months E. Current Child Support/Maintenance: These payments will be paid pursuant to previous divorce court order or agreement: _____ By the Trustee _____ By the debtor(s) Estimated Monthly Payment


First Payment Due


Executory Contracts and Leases: Debtor(s) assume(s) the following contracts and leases and reject(s) all others. Future contract and/or lease payments due to the other party will be paid: _____ By the Trustee _____ By the debtor(s) Other party to Contract/Lease Estimated Monthly Payment First Payment Due

Defaults exist on the following contracts and/or leases and will be paid in full by the Trustee: _____ Prior to other claims and attorney fees _____ Pro-rata with secured claims _____ In equal monthly installments for _____ months

Other Party to Contract/Lease

Estimated Amount in Default


Other Secured Claims: Creditors who claim a security interest in the property of the debtor must show perfection of such a security interest. If perfection is not shown, such claim may be subject to an action by the Trustee to avoid the alleged lien under 544(a) of the Bankruptcy Code. Such an action may be brought by the Trustee at any time within the time allowed by law. Insurance will be maintained upon such collateral at the debtor's expense, in accordance with the terms of the contract and security agreement creating such security interest. (1) The Trustee will pay 100% of the following claims, in contract installments, at contract rate of interest, as follows: Creditor Estimated Amount Claimed Estimated Monthly Payment

The Trustee will pay 100% of arrearages: _______ _______ Pro-rata with other secured claims In equal monthly installments for ____ months

The amount of the arrearage is estimated to be $________ (2) All other claims secured by collateral other than debtor's residential real estate shall be paid the value of their collateral with the balance treated as an unsecured claim. These secured claims shall be paid with interest at the rate of _____% per annum. The debtor believes the following claims fall within this category: Creditor Estimated Amount Claimed Alleged Value of Collateral Method of Valuation


Property to be Surrendered: Debtor(s) will surrender the collateral securing the claims of the following creditors: (a)_____ in full satisfaction of the claims; Creditor Estimated Amount Claimed Property Description

(b)_____ in satisfaction of the secured portion of such creditors' allowed claims. To the extent that the collateral does not satisfy such creditors' claims, the creditors shall hold non-priority, unsecured claims.


Estimated Amount Claimed

Alleged Value of Collateral

Method of Valuation


Priority Claims: The Trustee will pay 100% of all claims entitled to priority under 11 U.S.C. 507, estimated to be as follows: Estimated Creditor Amount Claimed

Debtor does not seek to discharge any taxes for those years for which no tax returns were filed.


Separately Classified Claims 1. Claims with Co-debtors: Claims of this kind will be paid in full with interest at the contract rate pro-rata with secured claims: _____ By the Trustee _____ By the Co-debtor(s) Creditor Estimated Co-debtor(s) Amount Claimed Estimated Interest Rate


Priority Child Support/Maintenance Arrearage: Claims of this kind will be paid in full by the Trustee with interest at the rate of _____% pro-rata with secured claims: Recipient Estimated Amount Claimed


Other: Other claims of this kind will be paid in full by the Trustee, as follows: (Additional money is being paid into the plan to enable these payments to be made without affecting other claims): _____ In monthly payments equal to the additional money to be paid into the plan, net of Trustee's fees. _____ Pro-rata with secured claims. _____ Other: Creditor Nature of Claim Estimated Amount Claimed


General Unsecured Claims: All other unsecured claims including the undersecured or deficiency portions of secured claims, will be paid by the Trustee as follows: Unsecured creditors to share in pro-rata distribution of all remaining funds. In the event that the number of unsecured creditors filing proofs of claim is less than the number of unsecured creditors listed in Schedule F, the Trustee will distribute all of the proceeds of the debtor's plan to those creditors whose claims have been filed and allowed, but not to exceed 100% of the amount of any claim. Post-Petition Claims: Post-petition claims filed and allowed under 11 U.S.C. Sec. 1305 may be paid through the plan. The total base will be increased accordingly. Such payments will be funded either by increasing the duration of the plan or increasing plan payments. Secured Claims: Except as otherwise ordered by the Court, holders of secured claims will retain their liens until completion of the plan. Objections to Claims: Any objection to a timely filed unsecured claim will be filed within thirty (30) days following the expiration of the claims bar date for that claim. Objections to secured and/or amended claims will be filed within thirty (30) days from the claims bar date OR within thirty (30) days from the filing of the claim, whichever is later. Other Provisions:


L. M.



REVESTMENT: All property shall revest in the debtor upon confirmation except the debtor's postpetition income which shall not revest in the debtor(s) until such time as a discharge is granted or the case is dismissed. The debtor(s) shall have the right to the possession and use of all income not needed to fund this plan.

_____________________ DATE _____________________ DATE