The Pennsylvania Chapter 13 Plan (Fillable Version PDF) is a legal document that outlines the repayment plan a debtor must adhere to in order to reorganize their debt under Chapter 13 bankruptcy. It is an official form required by the U.S. Bankruptcy Court for the Eastern District of Pennsylvania and must be filled out accurately and completely in order to be accepted. The plan outlines the amount the debtor must pay each month to the bankruptcy trustee, how the payments will be distributed to each creditor, the duration of the plan, and the total amount that will be paid to creditors. There are three different types of Pennsylvania Chapter 13 Plan (Fillable Version PDF) available: the Short Form, the Long Form, and the Modified Long Form. The Short Form is used for debtors who have a simple repayment plan and do not have any secured debts to repay. The Long Form is used for debtors that have more complex repayment plans or have secured debts to repay. Finally, the Modified Long Form is used for debtors who have over $419,275 in unsecured debts and over $1,257,850 in secured debts.
Pennsylvania Chapter 13 Plan (Fillable Version PDF)
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FAQ
Unfair treatment of creditors - A creditor may argue that the Chapter 13 plan unfairly discriminates against them in comparison to other creditors included in the plan. This can occur if, for example, one creditor is being paid a significantly lower percentage of the debt owed to them as compared to another creditor.
Objections must be filed within 21 days after the conclusion of the 341 meeting. Plan can be confirmed without further notice or hearing absent timely objections.
An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged debt. But not all of an individual's debts are discharged in chapter 7.
Most Chapter 11 debtors receive a moratorium on the payment of most of their general unsecured debts for the period between the filing of the case and the confirmation of a plan. This period usually lasts for six to twelve months.
An objection to the confirmation of a chapter 13 plan shall be made by motion setting forth the facts and legal arguments that give rise to the objection in sufficient detail to allow the debtor to file a reply or an amended plan that addresses the objection.
As part of the process, the debtor must submit a repayment plan for court approval. But other people with an interest in the bankruptcy case can also make their opinions known. The bankruptcy trustee assigned to the case and any of the creditors seeking repayment can file objections to the debtor's proposed plan.
Possible objections to Chapter 13 bankruptcy plans 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.