Chapter 13 Bankruptcy Document

CHAPTER 13 REPAYMENT PLAN AND STIPULATION

This Chapter 13 Plan and Stipulation is entered into on this by and between Debtor Name: whose mailing address is and Chapter 13 Trustee: (Trustee).

RECITALS

WHEREAS, Debtor has filed a voluntary petition under Chapter 13 of the Bankruptcy Code in the United States Bankruptcy Court for the , bearing Case No. ; and

WHEREAS, Debtor proposes to submit payments to the Trustee for distribution to creditors in accordance with the terms of this Chapter 13 Plan; and

WHEREAS, the Trustee and Debtor desire to set forth the material terms and procedures for funding, administration and modification of the Plan, and to resolve administrative matters without further contested proceedings where possible.

NOW, THEREFORE

In consideration of the mutual covenants contained herein, the parties agree as follows:

1. PLAN FUNDING AND DURATION

1.1 Payments. Debtor shall pay to the Trustee the sum of per month for a period of months, commencing on or before . Payments shall be made by check, money order or electronic transfer as permitted by the Trustee.

1.2 Preconfirmation Payments. Any preconfirmation payments received by the Trustee shall be applied to the first monthly payments due under this Plan unless otherwise ordered by the Court.

2. TREATMENT OF SECURED CLAIMS

2.1 Secured Claims. Secured creditors shall be paid as follows: (a) claims for which the debtor proposes cure and reinstatement shall be paid the full amount of any allowed arrearage through Trustee disbursements; (b) ongoing post-petition contractual installments shall be paid directly by Debtor unless the Plan provides for payment through the Trustee; (c) secured claims not provided for in the Plan shall retain their liens until the earlier of satisfaction of the underlying obligation or discharge under the Code.

2.2 Adequate Protection. The Trustee may make adequate protection payments to secured creditors where required by the Court. Treatment of interest rates, valuation and cramdown shall follow applicable statutory and case law.

3. PRIORITY CLAIMS

Allowed priority claims under Section 507 of the Bankruptcy Code, including but not limited to domestic support obligations and certain tax claims, shall be paid in full in deferred cash installments by the Trustee unless otherwise ordered by the Court.

4. UNSECURED CLAIMS

General unsecured creditors shall receive distributions from Trustee funds after payment of administrative and priority claims. The estimated percentage to unsecured creditors is , subject to adjustment based on allowed claims.

5. TRUSTEE DUTIES AND ADMINISTRATION

The Trustee shall receive payments from Debtor, reconcile receipts, object to claims where appropriate, and make distributions to creditors in accordance with the Plan and applicable bankruptcy rules. The Trustee shall file periodic reports and accountings as required by the Court.

6. DEBTOR OBLIGATIONS

Debtor shall timely comply with monthly payments, file required tax returns, cooperate with the Trustee's requests for documentation, maintain insurance on encumbered property, and promptly notify the Trustee and creditors of any change of address or employment.

7. MODIFICATION AND CURE

This Plan may be modified by Debtor upon motion and notice to affected parties. If Debtor defaults in payments, Debtor may propose a cure plan or motion to extend time, subject to Court approval. Any agreed cure amounts shall be paid through the Trustee unless otherwise agreed in writing.

8. DEFAULT AND REMEDIES

If Debtor fails to make required payments or otherwise breaches the Plan, the Trustee may file a motion to dismiss or convert the case, or seek other relief permitted by the Bankruptcy Code. Creditor relief from the automatic stay may be sought upon material default, subject to applicable notice and opportunity to cure.

9. PAYMENT APPLICATION AND ACCOUNTING

Trustee shall apply each payment according to the priority provisions of the Bankruptcy Code and the terms of this Plan. Trustee shall maintain records of disbursements and provide accounting to Debtor and the Court as required.

10. TAXES, INSURANCE, AND INSPECTION

Debtor shall file all required federal, state and local tax returns and pay taxes when due. Debtor shall maintain insurance on property securing claims, and shall permit inspection of such property upon reasonable notice where required for valuation or preservation.

11. NOTICES

Notices shall be in writing and deemed given when delivered in person, mailed by first-class mail, or sent by facsimile or electronic transmission where receipt is acknowledged by the receiving party.

12. AMENDMENTS AND WAIVER

This Plan may be amended by written agreement of the parties and approval of the Court. Failure by any party to insist upon strict performance of any provision shall not be deemed a waiver of that provision or of the party's right to enforce the same in the future.

13. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Plan shall be governed by the Bankruptcy Code and, to the extent not inconsistent therewith, by the laws of the state in which the Bankruptcy Court is located. This document, together with any exhibits and schedules filed with the Court, constitutes the entire agreement between the parties with respect to the subject matter hereof. If any provision of this Plan is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

14. COUNTERPARTS AND EFFECTIVE DATE

This Plan may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one instrument. The Effective Date of this Plan is the date first written above.

Debtor certifies under penalty of perjury that the information provided in this Plan and in any accompanying schedules and statements is true and correct to the best of Debtor's knowledge, and that Debtor will comply with the provisions of the Bankruptcy Code and orders of the Bankruptcy Court.

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