A New Jersey Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan — B 231A refers to a legal document issued by a New Jersey court that establishes the deadline for parties involved in a Chapter 12 bankruptcy case to object to a proposed modification of a confirmed plan. In a Chapter 12 bankruptcy case, which specifically applies to family farmers or fishermen, a confirmed plan outlines the terms and conditions under which the debtor will repay their debts over a specified period. However, circumstances may arise that require a modification or adjustment to the original plan. When a proposed modification is submitted, this order sets the timeline for creditors, trustees, or other interested parties to raise their objections. This order is crucial as it ensures that all parties have a fair opportunity to voice their concerns or grievances regarding the proposed plan modification. The court sets a specific deadline within which objections must be filed, ensuring efficiency and adherence to established bankruptcy procedures. It is important to note that different types or versions of the New Jersey Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan — B 231A may exist, differing in terms of the case number or specific details. However, the purpose and basic content remain consistent across these orders. Properly addressing this order requires attention to relevant keywords such as "New Jersey," "Order Fixing Time," "Object," "Proposed Modification," "Confirmed Chapter 12 Plan," and "B 231A." These keywords help convey the essential aspects of the document, enabling legal professionals, debtors, and creditors to quickly identify the order's purpose and their respective roles within the bankruptcy case. While the specific types or variations of this order may not be named in the original prompt, it is crucial to consult the New Jersey court system or applicable legal sources to clarify any potential distinctions or updates in the naming conventions or specific forms employed for these orders within the state.
New Jersey Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan - B 231A
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An objection to the allowance of a claim and a notice of objection that substantially conforms to the appropriate Official Form shall be filed and served at least 30 days before any scheduled hearing on the objection or any deadline for the claimant to request a hearing.
This chapter of the Bankruptcy Code provides for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.
Objections that may be raised include the following: Lack of good faith ? Creditors are entitled to receive at least as much in a Chapter 13 as they would if the debtor had filed a Chapter 7 liquidation. ... Inaccurate listing of debt ? The plan must list the debtor's full amount of unsecured debt.
An objection to the confirmation of the amended plan must be filed no later than fourteen (14) days from the date the amended plan is filed or seven (7) days before the date set for the first confirmation hearing, whichever is earlier, and shall be made by motion setting forth the facts and legal arguments that give ...
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.