Free PDF - Texas


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Date: October 15, 2004
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State: Texas
Category: Bankruptcy
Author: Lenox
Word Count: 1,176 Words, 8,068 Characters
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http://www.txwb.uscourts.gov/pdf/order_ch13_pln_el_paso_02_01_04.pdf

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IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF TEXAS EL PASO DIVISION IN RE: § § § § §

CASE NO. Chapter 13 Proceeding

Debtor(s)

DEBTOR(S)' CHAPTER 13 G AMENDED PLAN AND MOTIONS FOR VALUATION AND LIEN AVOIDANCE
Creditors are hereby notified that the following Plan may be amended at the Meeting of Creditors (Section 341 Meeting). Any amendment may affect your status as a creditor. The Debtor's estimate of how much the Plan will pay, projected payments, and estimates of the allowed claims may also change. The following information advises creditors of the status of the case based on the information known at the time of its preparation. Any special concerns of a creditor may justify attendance at the Meeting of Creditors and such other action as may be appropriate under the circumstances. More detailed information is on file at the Office of the United States Bankruptcy Clerk in El Paso, Texas. Local Bankruptcy Rules and Standing Orders on procedures are available at the Clerk's Office and online at www.txwb.uscourts.gov. Use of the singular word "Debtor" in this Plan includes the plural where appropriate.

Plan Summary A. The Debtor's plan payment will be $__________ per month, paid by G Pay Order or G Direct Pay, for ________ months. The gross amount to be paid into the Plan is $_____________________. The Plan proposes to pay all allowed priority claims in full, all secured claims to the extent of the value of the collateral, and approximately _________ % of each unsecured allowed claim.

B.

THIS PLAN DOES NOT ALLOW CLAIMS. YOU MUST FILE A PROOF OF CLAIM TO RECEIVE DISTRIBUTIONS UNDER ANY PLAN THAT MAY BE CONFIRMED. CREDITORS ARE REFERRED TO THE FEDERAL RULES OF BANKRUPTCY PROCEDURE AND THE LOCAL BANKRUPTCY RULES FOR THE WESTERN DISTRICT OF TEXAS FOR INFORMATION ON DEADLINES FOR FILING SECURED CLAIMS AND UNSECURED CLAIMS.

C. D.

The value of the Debtor's non-exempt assets is $___________________. The Debtor's monthly net income of $______________, less monthly expenses of $___________, equals $__________, which is the amount available monthly for the Plan. If the payment of any debt is proposed to be paid directly by the Debtor outside the Plan, it is so noted in Section VI(1), set forth below. EXHIBIT "1" 1

E.

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Plan Provisions I. Vesting of Estate Property G Upon confirmation of the Plan, all property of the estate shall vest in the Debtor and shall not remain as property of the estate. G Upon confirmation of the Plan, all property of the estate shall not vest in the Debtor, but shall remain as property of the estate. G Other (describe):

II. Interim Disbursement of Plan Payments In accordance with the applicable Standing Order Relating to Chapter 13 Case Administration, the Debtor requests and consents to disbursement by the Chapter 13 Trustee of Plan payments prior to confirmation of the Plan to evidence the Debtor's good faith, promote successful completion of the case, and to provide adequate protection to secured creditors. The Chapter 13 Trustee shall begin disbursements as soon as practicable after the Section 341 Meeting of Creditors is concluded.

III. Executory Contracts/Unexpired Leases/Contracts for Deed Pursuant to 11 U.S.C. § 1322(b)(7) of the Bankruptcy Code, the Debtor hereby elects to assume the following executory contracts, unexpired leases, and/or contracts for deed, if any:

Pursuant to 11 U.S.C. § 1322(b)(7) of the Bankruptcy Code, the Debtor hereby elects to reject the following executory contracts, unexpired leases, and/or contracts for deed, if any:

IV. Motion to Value Collateral Pursuant to 11 U.S.C. § 506 The Trustee shall pay allowed secured claims, which require the filing of a proof of claim, to the extent of the value of the collateral or the amount of the claim, whichever is less. The portion of any allowed claim that exceeds the value of the collateral shall be treated as an unsecured claim under Section VI (2)(F). The Debtor moves to value the collateral described below in the amounts indicated. An affidavit or declaration pursuant to Local Rule 3012 is attached in support of each of the

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valuations below. Objections to valuation of collateral proposed by this Plan must be filed by ninety (90) days after the original Plan is served or twenty (20) days after an Amended Plan is served, whichever is later. If no timely response or objection is filed, the relief requested may be granted in conjunction with confirmation of the Plan.

Creditor/Collateral

Estimated Claim

Value of Collateral

Monthly Payment or Method of Disbursement

Interest Rate

Anticipated Total to Pay

Other Treatment/Remarks

V. Motion to Avoid Lien Pursuant to 11 U.S.C. § 522(f) The Bankruptcy Code allows certain liens to be avoided. If a lien is avoided, the claim will not be treated as a secured claim but as an unsecured claim under Section VI (2)(F). The Debtor moves to avoid the following liens that impair exemptions. Objections to lien avoidance as proposed in this plan must be filed by ninety (90) days after the original Plan is served or twenty (20) days after an Amended Plan is served, whichever is later. If no timely objection is filed, the relief requested may be granted in conjunction with confirmation of the Plan. (Debtor must list the specific exempt property said lien impairs and the basis of the lien--i.e., judicial, nonpurchase-money security interest, etc.)

Creditor

Property Subject to Lien

Amount of Lien to Be Avoided

Remarks

VI. Specific Treatment for Payment of Allowed Claims
1. PAYMENTS TO BE MADE BY THE DEBTOR DIRECTLY TO CREDITORS

Creditor/Collateral, if any

Remarks

Debt Amount

Monthly Payment

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2. PAYMENTS TO BE MADE BY TRUSTEE TO CREDITORS

A. Administrative Expenses (including attorney's fees). The Trustee may receive up to 10% of all sums disbursed, except on any funds returned to the Debtor.
Creditor Estimated Amount of Debt Payment Method: before secured creditors, after secured creditors, or along with secured creditors Remarks

B. Priority Creditors
Creditor Estimated Amount of Debt Payment Method: before secured creditors, after secured creditors, or along with secured creditors Remarks

C. Arrearage Claims
Creditor/Collateral Estimated Claim Estimated Value of Collateral Monthly Payment or Method of Disbursement Interest Rate Anticipated Total to Pay Other Treatment/Remarks

D. Cure claims on Assumed Contracts, Leases, and Contracts for Deed:
Creditor/Subject Property, if any Estimated Amount of Cure Claim Monthly Payment or Method of Disbursement Remarks

E. Secured Creditors

Creditor/Collateral

Estimated Claim

Value of Collateral

Monthly Payment or Method of Disbursement

Interest Rate

Anticipated Total to Pay

Other Treatment/ Remarks

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F. General Unsecured Creditors (including claims from rejection of contracts, leases and contracts for deed). Describe treatment for the class of general unsecured creditors.

Totals: Administrative Claims _______________________ Priority Claims _____________________________ Arrearage Claims ___________________________ Cure Claims ________________________________ Secured Claims _____________________________ Unsecured Claims ___________________________

3. SUPPLEMENTAL PLAN PROVISIONS

The following are the Supplemental Plan Provisions:

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Respectfully submitted this _____________ day of ___________________, 200__.

___________________________________ Debtor ___________________________________ ___________________________________ ___________________________________ Address

___________________________________ Co-Debtor ___________________________________ ___________________________________ ___________________________________ Address

________________________________________ Attorney for Debtor ________________________________________ ________________________________________ ________________________________________ Address/Phone & Fax Number

Certificate of Service

ATTACH PROPOSED PAYMENT SCHEDULE, IF AVAILABLE

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