Chapter 13 Plan {LBF-19}

57 Mon t . LBF 19. CHA P T E R 13 P L A N. [M o n t . L BR 9009 - 1 ( b )] Na m e o f A tto r n ey O ff i ce M a ili n g A ddress T e l ep h o n e Nu m b er F ac s imil e Nu m b er E - Ma i l A ddress S t a t e Bar I . D. Nu m b er ( A tto r n ey f o r De b to r ( s )) IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MONTANA IN RE: , , Debtors. Case No. [FIRST AMENDED, as appropriate] CHAPTER 13 PLAN (DATED ) To Debtors : In the following notice to creditors, you must check each box that applies. To Creditors : Your rights may be affected by this plan. Your claim may be reduced, this plan, you must file an objection to confirmation at least 7 days before the date set for the hearing on confirmation, unless otherwise ordered by the Bankruptcy Court. The Bankruptcy Court may confirm this plan without further notice if no objection to confirmation is filed. Yes No This Plan contains non - standard provisions in paragraph 11. Yes No This Plan limits the amount of secured claims in paragraph 2(b) which may result in a partial payment or no payment at all to the secured creditor. Yes No This Plan avoids a security interest or lien in paragraph 11. 1. FUTURE EARNINGS/INCOME. T h e f u t ure ear n i n gs a n d ot h er i n c o m e o f t h e De b t o r ( s ) are s u b m i t t ed t o t h e super v i s i o n a n d c o n t r o l o f t h e C h ap t er 13 S t a n d i n g T rus t ee as n ec e ss ary f o r t h e e x ecu t i o n o f t h i s P l a n , a n d De b to r ( s ) s h a l l pay t o t h e T rus t ee t h e sum o f American LegalNet, Inc. www.FormsWorkFlow.com 58 $ ea c h m o n t h f o r a t erm o f m o n t h s , o r u n t i l a l l o f t h e p r o v i s i o n s o f t h i s P l an h a v e b een c o m p l e t ed. P l an pa y m e n t s s h a l l c o m m e n ce w i t h i n t h i r t y (30) da y s f o l l o w i n g t h e f i li n g o f t h e petition . T h e De b to r ( s ) s h a l l m ake pa y m e n t s d i rec t l y t o t h e T rus t ee u n t i l [ h i s / h er/ t h e i r] wage deduc t i o n s b eg i n . 2. PAYMENTS/DISBURSEMENTS. F r o m t h e pa y m e n t s s o rece i v ed, t h e T rus t ee s h a l l m ake d i s b urse m e n t s as f o ll o w s : (a) A d m in i s t r a t ive C l a ims. T h e T rus t ee s h a l l pay t h o s e c l a i m s , f ees o r c h arges s pec i f i ed i n 11 U. S . C. 247 507(a ) (2 ) , i n c l ud i n g t h e De b to r ( s) a t to r n ey f ees a n d c o s t s i n s uch a m o u n t as m ay b e a ll o wed b y t h e C o ur t . A s o f t h e da t e o f t h i s p l a n , De b to r(s) c o u n s el e s t im a t es t h at to t al a t to r n ey f ees a n d c o s t s f o r rep r e s e n t a t i o n o f De b to r(s) (e x c l ud i n g t h e f ee f o r f i l i n g t h e De b to r(s) pe t i t i o n ) w i l l b e as f o ll o w s : E s t im a t ed t ot al a t to r n ey f ee s : $ * E s t im a t ed t ot al c o s t s + $ T ot al e s t im a t ed a t to r n ey f ees a n d c o s t s : = $ L e s s re t a i n er: - $ T OT A L F EE S A ND COS T S T O BE P A ID T H R OUGH PL A N: $ * If t h i s f i gure d if f ers f r o m t h e D i s c l o s ure o f C o m pe n s a t i o n o r i g i n a ll y f i l ed b y t h e De b to r(s) a t to r n e y , s a i d D i s c l o s ure m u s t b e a m e n ded s i m u l t a n e o u s l y w i t h t h e f i li n g o f t h i s p l an o r a m e n ded p l a n , as pr o v i ded i n Fed. R. Bankr. P. 2016( b ). (b) Imp a ir e d S e c u red C l a ims. A f t er t h e pa ym e n t s pr o v i ded f o r a b o v e, t h e T rus t ee s h a l l pay a l l o wed s e cured c l a i m s , as de t er m i n ed pu r s ua n t t o 11 U. S . C. 247 506(a ) , to ge t h er w i t h i n t ere s t at t h e r a t e set f o r t h b e l o w f r o m t h e da t e o f c o n f i r m a t i o n , o n a p r o ra t a b a s i s , as f o ll o w s : Na m e of C r edi t or C l aim Nu m ber A l l owed S ecu r ed C l aim * Rate of % [* T h i s fi gure i s t h e l e s s er o f t h e t ot al a m o u n t o f t h e de b t o w i n g t o t h e c r ed i to r o r t h e v a l ue o f t h e c o ll a t eral s ecur i n g s a i d de b t . ] Secured cred i to rs s h a l l re t a i n t h e i r li e n s as pr o v i ded b y 11 U. S . C. 247 1325(a ) (5 ) (B). In o rder f o r a n y u n s ecured de f i c i e n cy t o b e a ll o wed a n d pa i d, a p r oo f o f c l a i m m u s t b e f il ed pursua n t t o M o n t a n a ' s L o cal B a n krup t cy Ru l e s . (c) Unimp a ir e d S e c u red C l a ims. T h e f o ll o w i n g s ecured cred i to rs, w h o s e c l a i m s w i l l b e l e f t u n i m pa i red b y t h i s P l a n , are n o t pr o v i ded f o r b y t h i s P l an a n d s h a l l rece i v e n o pa y m e n t s t h r o ugh t h e T rus t ee e x cept w i t h regard t o t h o s e a r rearages s pec i fi ed b e l o w, i f a n y : Na m e of C r edi t or Claim No. De s c r ip t ion of Co l l ate r al American LegalNet, Inc. www.FormsWorkFlow.com 59 C o n cur r e n t l y w i t h t h e pa y m e n t s o n im pa i red s ecured c l a im s s pec i f i ed a b o v e, t h e f o ll o w i n g ar r earag e s o n u n im pa i red s ecured c l a i m s , i f a n y , s h a l l b e pa i d t h r o ugh t h e T rus t ee o n a p r o ra t a b a s i s u n t i l t h e sa m e h a v e b een pa i d i n f u l l : Na m e of C r edi t or Claim No. Amount of Arrearage Up o n c o m p l e t i o n o f t h e P l a n , a l l prepe t i t i o n ar r earag e s pr o v i ded f o r b y t h i s P l an s h a l l b e dee m ed cu r re n t . (d) Do m e s t ic Sup p o r t O b l ig a t ions. A f t er t h e pa ym e n t s pr o v i ded f o r a b o v e, t h e T rus t ee s h a l l pay a l l a l l o wed p r epe t i t i o n d o m e s t i c supp o rt o b li ga t i o n s . Such a l l o wed c l a i m s f o r prepe t i t i o n d o m e s t i c supp o rt o b li ga t i o n s s h a l l b e pa i d i n f u l l u n der t h i s P l a n , w i t h o ut i n t ere s t (u n l e s s ot h erw i s e p r o v i ded). C r edi t or Claim No. C l aim A m ount (e) Priori t y C l a ims. A f t er t h e pa ym e n t s pr o v i ded f o r a b o v e, t h e T rus t ee s h a l l pay a l l o wed c l a i m s e n t i t l ed t o pr i o r i t y i n s uch o rder as s pec i f i ed i n 11 U. S . C. 247 507. (f) Gen e r a l Uns e c u red C l a ims. A f t er t h e pa y m e n t s pr o v i ded f o r a b o v e, t h e T rus t ee s h a l l pay d i v i de n d s , t o t h e e x t e n t p o ss i b l e, t o a l l o wed u n s ecured, n o n pr i o r i t y c l a i m s o n a p r o ra t a b a s i s . (g) L iqu i d a t ion A n a l ys i s. T h e t ot al a m o u n t d i s t r i b u t ed u n der paragrap h s 2 (d), (e) a n d ( f ) a b o v e w i l l b e at l ea s t $ , w h i ch e x ce e ds w h at w o u l d b e a v a i l a b l e t o pay u n s ecured c l a i m s i f t h e De b to r ( s) e s t a t e was li qu i da t ed u n der C h ap t er 7 o f t h e B a n krup t cy C o de. A d i s c h arge w i l l n o t b e e n t ered b y t h e C o urt u n t i l s a i d s um h as b een d i s t r i b u t ed, o r u n t i l a l l a l l o wed u n s ecured c l a im s h a v e b een pa i d i n f u ll , w h i c h e v er i s l e s s . 3. REJECTION OF CONTRACTS OR LEASES. The Debtor(s) rejects the following executory contracts and unexpired leases, and shall surrender property subje ct t o s uch c o n t rac t s o r l ea s e s : Type of Ag r ee m ent Date of Ag r ee m ent O t her Party to Con t r act American LegalNet, Inc. www.FormsWorkFlow.com 60 A l l o t h er e x ecu t o ry c o n t rac t s a n d u n e x p i red l ea s es s h a l l b e a f f i r m ed. 4. S UR R E NDER OF PROPER T Y. T h e De b to r ( s ) s ur r e n ders a n y a n d a l l i n t ere s t i n t h e f o ll o w i n g de s cr i b ed c o ll a t eral t o t h e s t a t ed se c ured cred i t o r i n f u l l s a t i s f ac t i o n o f t h e c r ed i to a l l o wed s e cured c l a i m . In o rder f o r a n y u n s ecured de f i c i e n cy t o b e a ll o wed a n d pa i d u n der t h i s P l a n , a p r oo f o f c l a i m m u s t b e f il ed pu r s ua n t t o M o n t a n a s L o cal B a n krup t cy Ru l e s . Upon confirmation, the stay that arose under 11 U.S.C. 247 362 and 11 U.S.C. 247 1301 immediately terminates without further order. The termination does not authorize action