This form is an order approving a disclosure statement and fixing the time for filing acceptances or rejections of the plan. The form must be completed and signed by the bankruptcy judge. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.
Missouri Order Approving Disclosure Statement and Fixing Hearing on Confirmation - Form 13 - Pre and Post 2005 Act
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How to fill out Order Approving Disclosure Statement And Fixing Hearing On Confirmation - Form 13 - Pre And Post 2005 Act?
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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.
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.
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).
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.
In bankruptcy law, a hearing generally occurs related to either Chapter 13 or Chapter 11 federal bankruptcy. Here, a confirmation hearing is a court proceeding wherein a judge either approves or rejects a proposed debtor repayment plan, based on its feasibility and other legal requirements.
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.