Fill and Sign the Chapter 13 Plan and Related Motions Virginia Form

UNITED STATES BANKRUPTCY COURT FOR THE EATERN DISTRICT OF VIRGINIA CHAPTER 13 PLAN DIVISION AND RELATED MOTIONS Name Of Debtor(s)             Note to creditors: Section A is the summary of the plan, Section B contains the detailed provisions of the plan and Section C is the debtor’s budget. Except where noted otherwise, reference to the “debtor” also refer to the debtor’s spouse if the case is a joint case. SECTION A – PLAN SUMMARY A-1 DATE OF PLAN This plan, dated       is: the first Chapter 13 plan filed in the case. a modified plan, which replaces the plan dated:       That plan has not been conformed by the Court Summary of Modification a. Plan Provision Modified by this Filing:       b. Nature of Modification:       c. Creditors Affected by Modification: A-2 ASSETS AND LIABILITIES On       , the debtor filed for relief under Chapter 13. converted a previously filed case to one under Chapter 13. As of that date, the debtor listed assets and liabilities as follows: Total Assets: $       Total Unsecured Debts including unsecured portion of secured Debt: $       Total Secured Debt: $       A-3 FUNDING OF PLAN The future earnings and income of the debtor are submitted to the supervision and control of the trustee. The debtor proposes to pay the sum of $       per       for       months or longer if necessary for completion of this plan according to its terms, but nor more than 60 months. The total amount to be paid into the plan is $       . This does not constitute all of the disposable income of the debtor during the period of the plan. Payments will be made in equal installments of $       every Month Twice monthly (24 payments per year) Two weeks (26 payments per year) Week Beginning:       . A-4 PAYMENT TO UNSECURED CREDITORS. Unsecured creditors with claims not entitled to priority under the United States Bankruptcy Code will receive in deferred cash payments from the trustee approximately       % of the present value of their allowed claims, without interest. If this case were liquidated under Chapter 7,such creditors would receive a dividend of approximately       % of their allowed claims. ________________________________________________ SECTION B – PROVISIONS OF PLAN B-1. ELIGIBILITY . The debtor is an individual who owed, on the date of the filing of the petition commencing this case, noncontingent, liquidation and unsecured debts totaling $       and noncontingent, liquidation and secured debts totaling $       . The debtor has regular income and is otherwise eligible for relief under 11 U.S.C. 109 (e) of the United States Bankruptcy Code. The plan is proposed in good faith and complies with all applicable provisions of Chapter 13 and the United States Bankruptcy Code. B-2 PAYMENTS TO PRIORITY CREDITORS a. Priority Creditors Under 11 U.S.C. 1326(b). The following priority creditors shall, subject to payments to secured creditors, to be paid in full at or before the time of payment to remaining creditors: 1. Trustee: 10% of all sums disbursed, except any funds returned to the debtor. 2. Debtor’s Attorney: $       balance due of total fee of $       . The attorney shall comply with Local Bankruptcy Rule 2016-1. Any fee in excess of the maximum established in L.B.R. 2016-1 will require an application for allowance of compensation and reimbursement of expenses by separate and distinct pleading. Any such application shall comply with 11 U.S.C. 330, F.R.B.P. 2016 and L.B.R. 2016-1. The attorney shall not send a bill directly to the debtor. Should the debtor receive a bill form his/her attorney, the debtor should send a copy of such bill to the trustee. b. Priority Creditors Under 11 U.S.C. 1322(a)(2) . The following priority creditors will be fully paid by deferred cash payments, unless the holder of such a claim agrees to be treated differently. Creditor Type of Claim Balance Due                   B-3 CREDITORS SECURED BY PROPERTY OTHER THAN REAL ESTATE – DEBTOR TO RETAIN COLLATERAL . Creditors whose claims are secured by property other than real estate whose collateral is to be retained by the debtor shall retain their lien s and be paid as indicated below. 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. a. To be Paid in Full Through Trustee Creditors named below whose claims are allowed will be paid the equivalent of 100% f the present fair market value of their collateral not to exceed the balance of the obligation, in deferred cash payments. The excess of such a creditor’s claim, over and above the fair market value of its collateral, will be paid as an unsecured claim. Creditor: Balance due:$       Collateral description:       Replacement Value:$       Source of valuation:$       Interest rate:$       Balance due to be amortized by monthly payments through trustee of $       for       months. To be paid through the trustee on a fixed monthly basis as set forth above or on a pro rata basis. The debtor hereby moves to value the collateral at $       in accordance with 11 U.S.C. 506(a), F.R.B.P. 3012, and L.B.R. 3015-2. Creditor: Balance due:$       Collateral description:       Replacement Value:$       Source of valuation:$       Interest rate:       % Balance due to be amortized by monthly payments through trustee of $       for       months. To be paid through the trustee on a fixed monthly basis as set forth above or on a pro rata basis. The debtor hereby moves to value the collateral at $       in accordance with 11 U.S.C. 506(a), F.R.B.P. 3012, and L.B.R. 3015-2. Creditor: Balance due:$       Collateral description:       Replacement Value:$       Source of valuation:$       Interest rate:       % Balance due to be amortized by monthly payments through trustee of $       for       months. To be paid through the trustee on a fixed monthly basis as set forth above or on a pro rata basis. The debtor hereby moves to value the collateral at $       in accordance with 11 U.S.C. 506(a), F.R.B.P. 3012, and L.B.R. 3015-2. Creditor: Balance due:$       Collateral description:       Replacement Value:$       Source of valuation:$       Interest rate:       % Balance due to be amortized by monthly payments through trustee of $       for       months. To be paid through the trustee on a fixed monthly basis as set forth above or on a pro rata basis. The debtor hereby moves to value the collateral at $       in accordance with 11 U.S.C. 506(a), F.R.B.P. 3012, and L.B.R. 3015-2. b. To be Paid Directly by Debtor . Creditors named below whose claims are allowed will be paid directly by the debtor in accordance with the terms of the contract and security agreement. Creditor: Balance due:$       Collateral description:       Replacement Value:$       Source of valuation:$       Creditor: Balance due:$       Collateral description:       Replacement Value:$       Source of valuation:$       c. Delinquency to be Cured Through Plan, Regular Payments to be Paid Directly by the Debtor Creditor: Principal balance due: $       Description of security:       Debtor’s estimation of value:       Regular monthly installments payment:       Payment delinquency and other defaults:       Amount:$       with interest at the rate of       % without interest Creditor: Principal balance due: $       Description of security:       Debtor’s estimation of value:       Regular monthly installments payment:       Payment delinquency and other defaults:       Amount:$       with interest at the rate of       % without interest B-4 CREDITORS SECURED BY PROPERTY WHICH WILL BE SURRENDERED BY THE DEBTOR. Upon conformation of the plan, if not before, the debtor will surrender the collateral securing the claims of the following creditors in satisfaction of the secured portion of such creditors’ allowed claims. To the extent that the collateral does not satisfy such creditor’s claim, the creditor shall hold a nonpriority, unsecured claim. The entry of the order confirming the plan shall have the effect of terminating the stay of 11 U.S.C. 362(a) as to the collateral surrendered, thereby allowing the recovery and disposition of such property according to applicable nonbankrutpcy law. Creditor: Collateral to be surrendered:       Debtor’s estimation of value:$       Creditor: Collateral to be surrendered:       Debtor’s estimation of value:$       B-5 CREDITORS WITH CLAIMS SECURED BY REAL ESTATE. Creditors whose claims are secured by real estate, which is to be retained by the debtor, shall retain their liens and be paid indicated below. Insurance will be maintained upon such collateral at the debtor’s expense, in accordance with the terms of the contract and deed of trust creating the lien thereon. a. Claims Secured Only by Interest in Debtor’s Principal Residence: Creditor named below are secured only by a security interest in real estate which is the debtor’s principal residence. Creditor whose claims are allowed will have any delinquency accrued, or default which occurred before the filing of the petition commencing this case, cured through the plan. All obligations of the debtor under the contract and deed of trust (except as pertains to the curing of the below-described arrearages) will be performed by the debtor in accordance with the terms of such contract and deed of trust encumbering the property. Creditor: Principal balance due:$       Description:       Regular monthly installment payment:$       Prepetition delinquency and other defaults:       Amount:$       with interest at the rate of       % without interest Payments to cure Prepetition delinquency and other defaults to be paid: Through the trustee on a fixed monthly basis by monthly payments of $       for       months or on a pro rata basis. Directly by the debtor. Regular payments accruing post petition to be paid; Through the trustee on a fixed monthly basis by monthly payments of $       Directly by the debtor. Creditor: Principal balance due:$       Description:       Regular monthly installment payment:$       Prepetition delinquency and other defaults:       Amount:$       with interest at the rate of       % without interest Payments to cure Prepetition delinquency and other defaults to be paid: Through the trustee on a fixed monthly basis by monthly payments of $       for       months or on a pro rata basis. Directly by the debtor. Regular payments accruing post petition to be paid; Through the trustee on a fixed monthly basis by monthly payments of $       Directly by the debtor. b. Claims Secured by Real Property Other Than the Debtor’s Principal Residence: Creditors named below are secured by a security interest in real estate other than the debtor’s principal residence. Creditors whose claims are allowed will be paid the equivalent of 100% of the present fair market value of their collateral in deferred cash payments. This will fully satisfy the secured portion of such creditor’s allowed claim. The excess of such a creditor’s claim over and above the fair market value of its collateral will be paid as an unsecured claim. Creditor: Principal balance due:$       Description:       Regular monthly installment payment:$       Prepetition delinquency and other defaults:       Amount:$       with interest at the rate of       % without interest Payments to cure Prepetition delinquency and other defaults to be paid: Through the trustee on a fixed monthly basis by monthly payments of $       for       months or on a pro rata basis. Directly by the debtor. Regular payments accruing post petition to be paid; Through the trustee on a fixed monthly basis by monthly payments of $       Directly by the debtor. Creditor: Principal balance due:$       Description:       Regular monthly installment payment:$       Prepetition delinquency and other defaults:       Amount:$       with interest at the rate of       % without interest Payments to cure Prepetition delinquency and other defaults to be paid: Through the trustee on a fixed monthly basis by monthly payments of $       for       months or on a pro rata basis. Directly by the debtor. Regular payments accruing post petition to be paid; Through the trustee on a fixed monthly basis by monthly payments of $       Directly by the debtor. B-6 LIEN AVOIDANCE a. Avoidance of Nopossessory, Nonpurchase-Money Security Interest: The debtor claims certain property exempt on Schedule C. That property is subject to a nonpossessory, nonpurchase-money security interest of a creditor which impairs the exemption of the debtor to personal property that fits within the categories set forth in 11 U.S.C. 522(1)(B)(i), or (B)(iii). The exempt property, creditor, amount of the creditor’s claim and amount to be avoided and paid as an unsecured claim are set forth below. The debtor hereby moves to avoid the following nonpossessory, nonpurchase-money security interest liens pursuant to 11 U.S.C. 522(f), L.B.R. 3015-2 and L.B.R. 4003-2 Name of Creditor Description of Collateral Value of Collateral Identity of Senior Lienholder (if any) Amount of Claim of Senior Lienholder                                                                                           b. Avoidance of Judicial Lien: The debtor claims certain property exempt on Schedule C. That property is subject to a judicial lien for a debt, other than for a debt described in 11 U.S.C. 522(f)(1)(A)(i) and (A)(ii) which lien impairs the exemption of the debtor to the property. The creditor, debtor’s interest in the property, amount of the lien, amount to be avoided are set forth below. The debtor hereby moves to avoid the following judicial liens pursuant to 11 U.S.C. 522(f), L.B.R. 3015-2 and L.B.R. 4003-2. Name of Creditor Description of Collateral Value of Collateral Identity of Senior Lienholder (if any) Amount of Claim of Senior Lienholder                                                                                           C. Avoidance of Other Security Interest and/or Lien: If the debtor intends to avoid a security interest of judicial lien to pursuant to other applicable sections of the Untied States Bankruptcy Code, then the debtor shall so state below and shall file and serve the necessary pleadings on or before the date set for the initial meeting of creditors or, if applicable, contemporaneously with the filing of any Modified Chapter 13 Plan and Related Motions. Name of Creditor Type of Lien Description of Collateral Basis for Lien Avoidances                                                                         B-7 UNSECURED CREDITORS NOT ENTITLED TO PRIORITY Unsecured Creditors with claims not entitled to priority under the United State Bankruptcy Code will receive in deferred cash payments from the trustee. Approximately       % of the present value of their allowed claims, without interest. If this case were liquidated under Chapter 7, such creditor would receive a dividend of approximately       % of their allowed claims. B-8 EXECUTORY CONTRACTS The debtor moves for assumption or rejection of the executory contracts. Name of Creditor Type of Contract                                     b. Executory Contracts to be Assumed by the Debtor. The debtor assumes the following executory contracts. The debtor agrees to abide by all terms of the agreement and to cured any Prepetition arrearages or defaults in the manner listed below. Name of Creditor Type of Contract Arrears on Filing Date                                                       B-9 TITLE OF PROPERTY TO REVEST IN DEBTOR All property of the estate shall revest in the debtor upon confirmation of the plan, subject to the provision in the plan and confirmation order. Unless the plan provides otherwise, a secured retains its lien until the allowed amount of its secured claim is paid. The terms of the debtor’s Prepetition agreement with a secured creditor shall continue to apply except as other wise provided for in this plan or the order confirming the plan. B-10 TREATMENT OF CLAIMS a. Secured creditors must timely file a proof of claim to receive payment from the trustee. b. Before or after confirmation of the plan, a party in interest may object to a claim which is not filed in accordance with F.B.R.P. 3001 or 3002. c. If a claim is scheduled as unsecured and the creditor files a proof of claim alleging that the claim is secured but does not timely object to the confirmation of the plan, the creditor may be treated as unsecured for purposes of distribution under the plan. This paragraph does not limit the right of the creditor affected by the plan to seek relief form the stay or to the object to the discharge of debt. d. If a claim is listed in the plan as secured and the creditor files a proof of claim as an unsecured creditor, the creditor will be treated as unsecured for purposes of distribution under the plan. e. If a claim is filed for collateral that is to be surrendered, the claim may be disallowed for purposes of distribution under the plan. An unsecured claim may be filed for any deficiency balance that may remain. f. If a claim is filed for a debt being paid directly by the debtor, the claim may be disallowed for purposes of distribution under the plan. This paragraph does not limit the right of the creditor to seek relief from the stay or move for dismissal should the debtor fail to make the payments as proposed in the plan. B-11. OTHER PROVIDIONS OF THE PLAN _________ None The debtor will not sell real property without an order from the court. /Check if Applicable/ SECTION C – BUDGET A photocopy of Schedules I and J, or a detailed summary thereof, is attached. [Note to debtor: be sure that the budget is attached to each copy of the plan filed with the Court or served upon a party in interest] SECTION D – SIGNATURES Dated: __________________________________ Signature of Debtor       Attorney for Debtor(s) (print or type) Signature of Joint Debtor (if applicable)       Address of Attorney       City, State, Zip       Telephone Number, Including Area Code _________________________________________________ SECTION E – PROOF OF SERVICE The undersigned hereby certifies that on this date the foregoing Chapter 13 Plan and Related Motions was served upon the standing trustee, all creditors, and other interested parties, as set forth in the attached list of names and addresses, by mailing a complete cop of the plan, including a photocopy of the budget, to each party, by first class mail. [ If the number of persons and parties served is twenty-five or fewer, service shall contain a complete certificate of service, including names and addresses of parties served. If service is made on more than twenty-five persons or parties, the certificate of service is attached to the original filed with the court.] Dated: ___________________________ Signature of attorney, or pro se debtor(s)       Printed Name(s) UNITED STATES BAKRUPTCY COURT EATERN DISTRICT OF VIRGINIA _________________ DIVISION IN RE: ) )       ) CASE NO.             ) Chapter 13 DEBTOR(S) ) NOTICE OF CHAPTER 13 PLAN AND RELATED MOTIONS TO:       NOTICE OF: 1) DEADLINE FOR FILING OBJECTIONS TO CONFIRMATION 2) MOTION OF VALUATION 3) MOTION TO AVOID CERTAIN LINES, AND 4) ASSUMPTION OR REJECTION OF EXECUTORY CONTRACTS The debtor(s) has filed a Chapter 13 Plan and Related Motions with the Court seeking to adjust his debts and, if applicable, to value the collateral of secured creditors, to avoid (that is, set aside or cancel) certain liens, and to assume or reject leases and executory contracts [If applicable] This Chapter 13 Plan and Related Motion modifies a plan which was no confirmed by the Court. Your rights may be affected . You should read these papers carefully and discuss them with your attorney, if you have one in this bankruptcy case. (If you do not have an attorney, you may wish to consult one.) Local Bankruptcy Rule 3015-2 provides that the Chapter 13 plan will be confirmed and the related motions granted, without a court hearing, if not objection is filed within the time allowed. If you do not want the Court to confirm the plan or (if you are secured creditor) to value your collateral or avoid your lien as provided in the plan or (if you are a party to an unexpired lease or executory contract with the debtor) to assume or reject the lease or executory contract, then on or before       , you or your attorney must: File a written objection and a copy with the Court at: United States Bankruptcy Court             ______________________________________ 1 Any creditor whose collateral is to be valued, whose lien is to be avoided, or whose lease or executory contract is to be assumed or rejected must receive an individually addressed notice and must be served in accordance with Federal Rule of Bankruptcy Procedure 7004. If you mail your objection to the Court for filing, you must sell enough so that the Court will receive it on or before the date state above. You must also mail a copy to the attorney for the debtor(s) (or to the debtor(s) if the debtor(s) is not represented by counsel) and to the Chapter 13 Trustee: Address of attorney for the debtor(s) or Debtor(s) if not represented by counsel:                   Address of Chapter 13 Trustee:                   If timely objection is filed to the original Chapter 13 Plan and Related Motions, the objection and the motions, if any, will be hard at the date and time give in the Notice of Chapter 13 Bankruptcy Case, Meeting of Creditors, & Deadlines previously mailed to you by the Clerk’s Office. If a timely objection is filed to a modified plan, the Court will schedule a hearing on the objection. 1. The Chapter 13 Plan and Related Motions propose to value the claims of the following creditors: Name of Description of Value Assigned Estimated Balance Creditor Collateral by Debtor Interest Rate of Creditor                                                             2. The Chapter 13 Plan and Related Motions propose to avoid judicial liens, nonpossessory, nonpurchase- money security interests or other liens of the following creditors: Name of Description of Value of Identity of Senior Amount of Claim Creditor Collateral Collateral Lienholder (if any) of Senior Lienholder                                                             3. The Chapter 13 Plan and Related Motions propose to assume or reject an executory contract or unexpired lease with the following creditors: (A) Assume: Name of Creditor Type of Contract Arrears on Filing Date                   (B) Reject: Name of Creditor Type of Contract             REVIEW THE CHAPTER 13 PLAN AND RELATED MOTIONS CAREFULLY TO DETERMINE THE TREATEMEN OF YOUR CLAIM UNDE THE PLAN. PROOF OF SERVICE The undersigned hereby certifies that on this debt the foregoing Notice was served upon the standing trustee, all creditors, and other interested parties. As set forth on the attached list of names and addresses, by mailing a complete copy of the Notice to each party, by first-class mail. [ If the number of persons parties served in twenty-five or fewer service, including shall contain a complete certificate of service, including name and addresses of parties served. If service is made on more than twenty-five persons or parties, the certificate of service attached to the service copies need not contain the complete list of names and addresses, but may reference a service list attached to the original filed with the court.] Dated:_____________________________ Signature of attorney, or pro se debtor(s)       Printed Name(s)