The North Carolina Order Approving Disclosure Statement and Fixing Hearing on Confirmation — Form 13 is a legal document used in bankruptcy proceedings. It is applied both PRE and post the enactment of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act. This form serves the purpose of obtaining court approval for a debtor's disclosure statement, which contains detailed financial information about the debtor's assets, liabilities, and proposed plan for the repayment or reorganization of debts. The disclosure statement is a crucial component of the bankruptcy process as it provides creditors with essential information necessary to make informed decisions regarding the proposed plan. The Order Approving Disclosure Statement also sets a hearing date for the confirmation of the debtor's plan. This hearing is significant as it allows the court to evaluate the proposed plan's feasibility and determine its suitability for approval. During the confirmation hearing, interested parties, such as creditors and the bankruptcy trustee, may voice any objections or concerns they have with the debtor's plan. In terms of variations, there may be slight differences in the content and formatting of the Order Approving Disclosure Statement and Fixing Hearing on Confirmation — Form 13, depending on whether it is used PRE or post the 2005 Act. The 2005 Act introduced several changes to bankruptcy laws, including stricter qualification criteria and additional requirements for filing. It is important to note that while this content provides a general understanding of the North Carolina Order Approving Disclosure Statement and Fixing Hearing on Confirmation — Form 13, it is always advisable to consult with a qualified attorney or legal professional for accurate and up-to-date information regarding bankruptcy proceedings in North Carolina.
North Carolina Order Approving Disclosure Statement and Fixing Hearing on Confirmation - Form 13 - Pre and Post 2005 Act
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How to fill out North Carolina Order Approving Disclosure Statement And Fixing Hearing On Confirmation - Form 13 - Pre And Post 2005 Act?
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Hear this out loud PauseAny 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.
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).
Hear this out loud PauseDuring a confirmation hearing, the judge will either approve or reject a filer's proposed plan and hear any objections. A bankruptcy trustee might object to a repayment plan because they are concerned that the proposed payments are not adequate under bankruptcy laws.
Hear this out loud PauseAn order confirming the chapter 13 plan is a Bankruptcy judge's approval of the Debtor's proposed chapter 13 repayment plan. For more information, see 11 U.S.C. §1325 .