Chapter 13 Bankruptcy Plan

CHAPTER 13 BANKRUPTCY PLAN

Court:    Case No.:

Debtor Name:    Co-Debtor Name:

Attorney for Debtor:    Chapter 13 Trustee:

RECITALS

WHEREAS, the Debtor has filed a petition under Chapter 13 of the Bankruptcy Code seeking to reorganize debts and obtain confirmation of a plan to pay creditors; and

WHEREAS, the Debtor proposes a plan that provides for the payment of claims over a period not to exceed the maximum allowed under applicable law, and sets forth the treatment of secured, priority, and unsecured claims; and

WHEREAS, the Trustee is charged with administering payments under the plan and making distributions to holders of allowed claims in accordance with this plan and court order;

NOW, THEREFORE

The Debtor proposes the following Chapter 13 Plan. The provisions below set forth the terms by which the Debtor will fund the plan, the treatment of claims, and the rights and obligations of parties in interest.

1. DEFINITIONS

For purposes of this Plan, "Allowed Claim" means a claim as to which a proof of claim has been filed and allowed by the Court, or scheduled as non-contingent, liquidated and undisputed. "Effective Date" means the date on which payments to the Trustee commence under paragraph 3 of this Plan.

2. PLAN TERM AND PAYMENTS

The Debtor shall make payments to the Trustee in the sum of $ per month for a period of months, beginning on . The Trustee shall apply payments to administrative expenses, priority claims, secured claims, and unsecured claims in accordance with this Plan and applicable law.

3. PLAN FUNDING AND PROJECTED BASE

The total projected base of funds to be paid into the Plan over the term is $ . These funds shall be allocated first to Trustee statutory fees and administrative expenses, then to priority claims, then to secured claims as provided below, and finally to unsecured claims to the extent needed to satisfy the requirements of the Bankruptcy Code.

4. PRIORITY CLAIMS

Allowed priority claims under 11 U.S.C. § 507, including domestic support obligations and certain tax claims, shall be paid in full unless otherwise agreed. The Debtor estimates total priority claims of $ .

5. SECURED CLAIMS

Secured claims shall be treated as follows. Unless otherwise provided, payments called for by this Plan shall cure and maintain allowed secured claims and any arrears will be provided for through Plan payments. The Debtor proposes the following treatment for specifically identified secured creditors:

If the value of collateral securing a claim is less than the allowed claim, the secured portion shall be paid through the Plan to the extent provided by the Code and the unsecured deficiency shall be treated under Section 6 below.

6. UNSECURED CLAIMS

General unsecured claims will be paid a dividend of of their allowed amount, unless the Trustee determines a different distribution is required to satisfy the applicable provisions of the Bankruptcy Code based on the funds available under the Plan.

7. EXECUTORY CONTRACTS AND UNEXPIRED LEASES

The Debtor assumes or rejects executory contracts and unexpired leases as set forth below. Unless a contract is expressly assumed, it shall be treated as rejected under the Plan and applicable law.

8. VESTING OF PROPERTY

Unless otherwise ordered by the Court, upon confirmation of this Plan, property of the estate shall vest in the Debtor and any revesting shall be without prejudice to the rights of secured creditors as set forth in this Plan or as otherwise determined by the Court.

9. POST-PETITION CLAIMS

Post-petition liabilities incurred by the Debtor shall not be obligations of the Trustee and shall be paid by the Debtor as they come due, unless otherwise authorized by the Court. No post-petition claim shall receive treatment under this Plan except by order of the Court.

10. CURE OF DEFAULTS

Any pre-petition default to be cured under this Plan shall be cured through payments to the Trustee as provided herein. Specific cure amounts are set forth in the secured claims description or other schedules filed with the Court.

11. NOTICE

Notices shall be effective upon mailing or electronic transmission to the addresses on file with the Court or as otherwise ordered.

12. AMENDMENTS AND MODIFICATIONS

This Plan may be amended or modified by the Debtor, with Court approval where required, upon notice to creditors and the Trustee. Any material modification proposed after confirmation shall require the appropriate notice and opportunity to be heard as required by the Bankruptcy Code and Court rules.

13. WAIVER

No failure of a party to exercise any right provided under this Plan shall operate as a waiver of that right. Any waiver must be in writing and signed by the party waiving the right.

14. GOVERNING LAW

This Plan shall be governed by the Bankruptcy Code and applicable federal law. To the extent state law is applicable, the laws of the state in which the Debtor resides at the time of filing shall apply.

15. ENTIRE AGREEMENT

This Plan, together with any confirmed orders of the Court and the schedules filed by the Debtor, constitutes the entire agreement between the Debtor and holders of claims concerning the treatment of claims provided herein.

16. SEVERABILITY

If any provision of this Plan is held to be invalid or unenforceable, the remainder of the Plan shall remain in full force and effect and shall be construed so as to effectuate the original intent of the parties to the extent permitted by law.

17. CERTIFICATION

The Debtor certifies under penalty of perjury that the information contained in this Plan and any attachments is true and correct to the best of the Debtor's knowledge, and that the Plan contains all material terms necessary for creditors to evaluate the proposed treatment of their claims.

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