Chapter 13 Plan

UNITED STATES BANKRUPTCY COURT DISTRICT OF MAINE In re: Chapter 13 Debtor Name, Case No. ________ Debtor(s) CHAPTER 13 PLAN The debtor or debtors (hereinafter "debtor") proposes the following plan. The debtor submits the following income and property to the trustee for the execution of the plan. 1. Plan Payments. (A) Base Plan: (1) The debtor will pay the trustee $________ per month for ________ months, starting within 30 days after the commencement of the case or its conversion to Chapter 13, whichever is later. (2) The debtor will also pay the trustee the following: ______ (e.g., none). (3) The total base plan amount is $_________. (B) The plan shall be ________ months long. (C) In addition to the base plan amount, the debtor will pay the trustee all tax refunds (combined federal and state) in excess of $1,200 per year, per debtor. (D) The Applicable Commitment Period is ___ months as provided by 11 U.S.C. § 1325(b)(4). 2. Administrative Expense Claims. (A) The trustee shall pay the following administrative expense claims in full: (1) Trustee's statutory fees as allowed by 28 U.S.C. § 586: (Estimated to be 10% of the total plan payments.) (2) Debtor's attorney fees to be paid by the trustee (if any): (3) Other (describe): (B) Administrative reserve (if any): $0.00 $0.00 $0.00 $0.00 Any unused portion of the administrative reserve shall be paid pro rata to general unsecured claims that have not otherwise been paid in full. 3. Secured Claims. Claims secured by property of the estate shall be paid as follows: (A) Preconfirmation Adequate Protection and Lease Payments. The trustee shall make adequate protection payments on the following secured claims and unexpired leases prior to confirmation of the plan from funds paid by the debtor as follows, pursuant to 11 U.S.C. § 1326(a)(1). A proof of claim must be filed before the trustee shall make such payments. Page 1 American LegalNet, Inc. www.FormsWorkFlow.com Creditor Name Collateral Details None (B) Ongoing Mortgage Payments. (1) By the Debtor. The debtor shall make current monthly mortgage payments directly to creditors as follows, starting with the first payment due after the filing of the petition or the conversion of the case to Chapter 13, whichever is later, unless otherwise indicated. The debtor shall increase or decrease the payments to reflect changes in variable interest rates, escrow requirements, or similar matters. The lien securing each claim shall not be impaired. The underlying claim shall not be discharged pursuant to 11 U.S.C. § 1328 unless the debtor surrenders the property during the term of the plan or the Court grants relief from the automatic stay permitting the creditor to enforce its interests against the property. Creditor Name Collateral None (2) By the Trustee. Upon confirmation, or as provided in paragraph 3(A) above, the trustee shall make current monthly mortgage payments to creditors from funds paid by the debtor as follows, starting with the first payment due after the filing of the petition or the conversion of the case to Chapter 13, whichever is later, unless otherwise indicated. A proof of clam must be filed before the trustee shall make such payments. The trustee shall increase or decrease the payments to reflect changes in variable interest rates, escrow requirements, or similar matters after receipt of notice of changes issued by the mortgage holder or its agent. Payments made by the trustee pursuant to this paragraph shall constitute full periodic compliance with the existing contract between the debtor and each such creditor. The lien securing each claim shall not be impaired. The underlying claim shall not be discharged pursuant to 11 U.S.C. § 1328 unless the debtor surrenders the property during the term of the plan or the Court grants relief from the automatic stay permitting the creditor to enforce its interests against the property. The debtor shall resume direct payments on these claims at the conclusion of the plan or as otherwise provided below. Creditor Name Collateral Monthly Payment None (C) Other Secured Claims Not Paid By Trustee. The following secured claims shall be paid directly by the debtor or a third party pursuant to the existing contract(s). The lien securing each claim shall not be impaired. Each claim to be paid by the debtor shall not be discharged pursuant to 11 U.S.C. § 1328 unless (i) the debtor surrenders the collateral during the term of the plan, (ii) the Court orders the return of the collateral, or (iii) the Court grants relief from the automatic stay authorizing the creditor to enforce its interests against the collateral. Creditor Name Collateral Details None Page 2 American LegalNet, Inc. www.FormsWorkFlow.com (D) Arrearages on Secured Claims. The trustee shall pay arrearages on secured claims to cure defaults from funds paid by the debtor as follows. Payment by the trustee of the allowed amount of arrears shall constitute a complete cure of all prepetition defaults. A proof of claim must be filed before the trustee shall make such payments. Unless otherwise provided, the amounts of arrears stated below are estimates only, and the actual allowed amounts shall be subsequently determined (such as through the claims allowance process). Amount of Arrears Interest (Rate & Estimated Dollar amount) Creditor Name Collateral Total Arrears and Interest (Estimated) Payment Schedule (Pro rata, fixed payments, etc.) None (E) Secured Claims Where § 506 Not Applicable ("910 Claims"). The trustee shall pay the following claims, to which 11 U.S.C. § 506 is inapplicable, in full, plus allowed interest from funds paid by the debtor as provided below. See 11 U.S.C. § 1325(a) "Hanging Paragraph". A proof of claim must be filed before the trustee shall make such payments. Unless otherwise provided, the claim amounts stated below are estimates only, and the actual allowed amounts shall be subsequently determined (such as through the claims allowance process). Interest Creditor Name Collateral Claim Amount (Rate & Estimated Dollar amount) Total Claim and Interest (Estimated) Payment Schedule (Pro rata, fixed payments, etc.) None (F) Secured Claims Where § 506 Applicable ("Non-910 Claims"). The trustee shall pay the following secured claims, to which 11 U.S.C. § 506 is applicable, in full or to the lesser extent of the value of the collateral plus allowed interest, from funds paid by the debtor as provided below. A proof of claim must be filed before the trustee shall make suc