A Massachusetts Motion to Conditionally Approve and to Combine the Hearing on Final Approval of the Disclosure Statement and Confirmation of the Plan of Reorganization of Small Business Debtor is a motion filed in bankruptcy court that requests the court to conditionally approve certain documents and to combine a hearing to finalize the approval of the disclosure statement and confirm the plan of reorganization. The documents that may be conditionally approved include the debtor’s disclosure statement, the plan of reorganization, and any documents related to the debtor’s proposed reorganization plan. The debtor is usually required to provide evidence that they have complied with all applicable bankruptcy laws and that the disclosure statement meets the requirements of the Bankruptcy Code. The court must then make a ruling on the motion and, if granted, the hearing is typically combined with the hearing for confirmation of the plan of reorganization. The two main types of Massachusetts Motion to Conditionally Approve and to Combine the Hearing on Final Approval of the Disclosure Statement and Confirmation of the Plan of Reorganization of Small Business Debtor are a motion based on 11 U.S.C. § 1129(a)(9) and a motion based on 11 U.S.C. § 1129(b)(2)(A). The first type, 11 U.S.C. § 1129(a)(9), applies to debtors in Chapter 11 bankruptcy that are not classified as “small business debtors”, and the motion is used to conditionally approve a plan of reorganization or a disclosure statement. The second type, 11 U.S.C. § 1129(b)(2)(A), applies to small business debtors in Chapter 11 bankruptcy and is used to conditionally approve a disclosure statement and combine the hearing on final approval of the disclosure statement and confirmation of the plan of reorganization.
Massachusetts Motion to Conditionally Approve and to Combine the Hearing on Final Approval of the Disclosure Statement and Confirmation of the Plan of Reorganization of Small Business Debtor
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FAQ
Once you've completed your Chapter 13 repayment plan, most remaining nonpriority unsecured debt balances will get discharged. Student loan balances are a notable exception?you'll remain responsible for those (at least for the present). Student loans fall into the category of nonpriority unsecured debts.
The discharge releases the debtor from all debts provided for by the plan or disallowed (under section 502), with limited exceptions. Creditors provided for in full or in part under the chapter 13 plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations.
How to Survive Chapter 13 Bankruptcy Stick to Your Repayment Plan. Chapter 13 bankruptcy establishes a repayment plan.Make Budget Cuts. Budget cuts before filing for bankruptcy can help you manage your finances.Stay Away from Credit Cards.Build an Emergency Fund.Seek Professional Help.
Funds received after the date of an Order of Dismissal or an Order of Conversion in a confirmed case and after the Trustee has closed the case will be disbursed directly to the debtor(s). These refunds will be generated once per month, near the end of the month, prior to the regular disbursement cycle.
Once you have paid off all of your chapter 13 bankruptcy debts, you will go to the bankruptcy court for one last hearing ? your discharge hearing. You have the option of directing your attorney to attend the hearing in your place. The bankruptcy judge will review all of your case details.
Your debts will not be discharged. Often creditors?especially unsecured creditors?don't bother to file claims with the bankruptcy court and their debts get discharged, but only if you complete the plan. When the case is dismissed, those creditors stay with you.
About 45 days after you've received your discharge, you will receive a document called a Final Decree. It's the document that officially closes your case. Once this document is received, you are no longer in bankruptcy.
If a debtor fails to keep up with payments under their repayment plan in a Chapter 13 bankruptcy, the bankruptcy trustee may file a motion to dismiss their case. This means that their debts would not be discharged because the case would be considered unsuccessful.
