North Carolina Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B is a legal document that pertains to modifications of confirmed Chapter 13 bankruptcy plans in the state of North Carolina. This order is crucial in providing individuals or entities involved in a Chapter 13 bankruptcy case with a designated timeframe to raise objections to proposed modifications. In the context of bankruptcy law, a Chapter 13 plan is a debtor's proposed repayment plan that details how they intend to repay their debts over a certain period. However, circumstances may change, and modifications to the original plan may become necessary. When such modifications are proposed, this order is used to establish the timeline during which interested parties can object. Several types of North Carolina Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B can exist, depending on the specific circumstances of the bankruptcy case. Here are some possible variations: 1. Standard Order: This is the basic type of order used in cases where a proposed modification is made to a confirmed Chapter 13 plan. The purpose of this order is to inform all interested parties of the new plan and provide them with a fixed timeframe within which they can raise objections. 2. Expedited Order: In some cases, urgency may arise, requiring an expedited process for obtaining objections to proposed modifications. An expedited order can be issued when time is of the essence, allowing interested parties less time than usual to object but ensuring that the proceedings move forward promptly. 3. Amended Order: If modifications to the original order are needed after it has been issued, an amended order serves the purpose of updating the timeframe for objecting to the proposed modifications. This ensures that all parties involved are aware of the revised timeline and can act accordingly. 4. Conditional Order: Occasionally, there may be specific conditions attached to proposed modifications, such as additional payments or changes in the distribution schedule. A conditional order would be issued to outline these conditions and stipulate the time within which parties can object if they disagree with the proposed changes. Overall, the North Carolina Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B is an essential legal instrument in navigating the bankruptcy process. It provides a clear framework for interested parties to voice their concerns or contest proposed modifications, ensuring transparency, fairness, and compliance with bankruptcy laws in North Carolina.
North Carolina Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan - B 231B
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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. (e) First Chapter 13 Confirmation Hearings.
Chapter 13 Plan Confirmation Requirements Whether your plan is practical in terms of making the required payments on time. Whether unsecured creditors will get at least the amount they would have gotten had you filed a Chapter 7 bankruptcy.
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.
When a Chapter 13 case is dismissed, it is, in the view of the court, as though the bankruptcy filing never existed. The automatic stay that had protected the debtor is lifted; creditors may pounce immediately, with results that include: Collections letters.
Confirmation Hearing: This hearing must take place within 45 days after the Meeting of Creditors. The Chapter 13 repayment plan must meet certain criteria to be confirmed, such as providing for payment of past due child support, alimony, income taxes, and other ?priority? debts (debts that must be paid first).
In a Chapter 13, an objection to confirmation is basically a written statement from the Chapter 13 Trustee or a creditor of the debtor that there is something wrong with the case that needs to be fixed before the confirmation hearing.
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 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.