This form is an order confirming a chapter 12 plan. The plan is confirmed with certain provisions encompassing payment amount, due date of payment, and period of payments.
Utah Order Confirming Chapter 12 Plan - B 230A
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How to fill out Order Confirming Chapter 12 Plan - B 230A?
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FAQ
"Cram down" simply means the process by which the bankruptcy court can, as part of the confirmation of a Chapter 12 Bankruptcy Plan, force treatment upon an objecting creditor, provided the Plan otherwise meets all of the other confirmation criteria under Section 1225 of the Bankruptcy Code.
Chapter 12 bankruptcy is for family farmers or family fishermen with regular annual income from those careers. It helps these workers propose and execute a plan to repay all or part of their debts. Chapter 12 will stay on a credit report for seven years.
Most likely a debtor that is eligible to file under Chapter 12 will also be eligible to file under Chapters 7, 11, and 13. Depending on the debtor's situation, one of those chapters may better serve their bankruptcy goals. However, unlike other bankruptcy chapters, Chapter 12 was created to protect farmer interests.
"Cram down" simply means the process by which the bankruptcy court can, as part of the confirmation of a Chapter 12 Bankruptcy Plan, force treatment upon an objecting creditor, provided the Plan otherwise meets all of the other confirmation criteria under Section 1225 of the Bankruptcy Code.
Another potential downside to filing for Chapter 12 is that it can have a negative impact on your credit score. This may make it more difficult for you to secure loans or lines of credit in the future. It's also important to keep in mind that filing for Chapter 12 bankruptcy does not absolve you of all your debts.
The Chapter 12 Discharge Those creditors who were provided for in full or in part under the plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations. Certain categories of debts are not discharged in chapter 12 proceedings.
