Delaware Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B is a legal document used in the state of Delaware to establish a specific timeframe for objections to proposed modifications of a confirmed Chapter 13 bankruptcy plan. This order ensures that all parties involved in the bankruptcy proceedings have a fair opportunity to review and assess any proposed changes. In Delaware, there are different types of orders that can be used to fix the time to object to proposed modifications of a confirmed Chapter 13 plan. These may include: 1. Initial Order Setting Deadline for Objections: This order is typically issued shortly after a Chapter 13 plan is confirmed by the court. It establishes an initial deadline by which creditors and other interested parties must file any objections to proposed modifications. 2. Order Extending Deadline for Objections: In some cases, the court may grant an extension of the original deadline for objections. This order allows additional time for parties to thoroughly review proposed modifications and file any objections they deem necessary. 3. Order Shortening Deadline for Objections: On the other hand, the court may issue an order to shorten the original deadline for objections. This may occur when the circumstances require a prompt resolution or when all parties involved have consented to a shorter timeframe. 4. Order Granting Hearing on Objections: If objections are filed within the designated timeframe, the court may issue an order to schedule a hearing to address these objections. This order sets a date for the hearing, where all interested parties can present their arguments and evidence related to the proposed modifications. 5. Order Approving or Denying Proposed Modifications: Finally, after considering all objections and arguments from the parties involved, the court will issue an order either approving or denying the proposed modifications to the confirmed Chapter 13 plan. This order will outline the court's decision and provide instructions for moving forward. Delaware Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B plays a critical role in maintaining transparency, fairness, and efficiency within the bankruptcy process. It ensures that all parties have sufficient time to examine proposed modifications and voice any concerns they may have. It also supports the court's objective to achieve a reasonable and equitable resolution for debtors, creditors, and other interested parties involved in the Chapter 13 bankruptcy.
Delaware Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan - B 231B
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Modification after confirmation. The court and the trustee will ask you to explain why you need to change your plan payments and provide proof of your changed circumstances (such as a job loss or a reduction in income). If satisfied, the court will order a new plan payment for the duration of your case.
If the trustee wants to object to your plan, he or she will typically file a written objection to confirmation with the court and set forth the reasons why the court should not approve your proposed plan. If you don't respond to the trustee's objection, most courts will not confirm the plan.
If the court declines to confirm the plan or the modified plan and instead dismisses the case, the court may authorize the trustee to keep some funds for costs, but the trustee must return all remaining funds to the debtor (other than funds already disbursed or due to creditors).
The chapter 13 trustee may file an objection to the confirmation of an amended plan no later than fourteen (14) days from the date the amended plan is filed or five (5) days before the date set for the first confirmation hearing, whichever is earlier.
Any Chapter 13 debtor who receives an objection to confirmation should first take a deep breath and relax. Then, they should pick up the phone and call their bankruptcy attorney and ask for an explanation of the objections. In the vast majority of cases, the objections can easily be fixed.
If the court confirms the plan, the chapter 13 trustee will distribute funds received under the plan "as soon as is practicable." 11 U.S.C. § 1326(a)(2). If the court declines to confirm the plan, the debtor may file a modified plan.
For most creditors the objection is about whether or not they are being treated correctly under the law. For the trustee the objection is usually about how a class of creditors is being treated and whether the plan complies with the requirements of the law on the whole.