Pennsylvania Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B is a legal document issued by the courts in Pennsylvania that sets a specific timeline for individuals or parties to voice their objections to proposed modifications made to a confirmed Chapter 13 bankruptcy plan. This order is crucial in the bankruptcy process as it allows interested parties to express their concerns or disagreements regarding any modifications proposed to a confirmed bankruptcy plan. There are different types of Pennsylvania Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan — B 231B, including: 1. Mandatory Timeframe: This refers to the standard timeframe given to all interested parties to submit their objections to proposed modifications. It ensures that all parties have an equal opportunity to be heard and express their views. 2. Expedited Timeframe: In certain circumstances where time is of the essence, the court may deem it necessary to set an expedited timeframe. This allows for a swift resolution, especially when modifications are urgent or may significantly impact the bankruptcy proceedings. 3. Extended Timeframe: In some cases, the court may grant an extended period for objections to be filed. This can occur when the modifications proposed are complex or require additional time for parties to review and analyze the potential effects on their interests. Keywords: — Pennsylvania OrdeFixingin— - Time to Object — Proposed Modificatio— - Confirmed Chapter 13 Plan — B 231B - BankruptcPLAla— - Objection Period — Legal Docum—nt - CoProceedeedi—g— - Interested Parties — StandTimeframefram— - Expedited Timeframe — ExtenTimeframefram— - Bankruptcy Proceedings
Pennsylvania Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 13 Plan - B 231B
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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.
An 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 .
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.
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.
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.
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.