Original-Amended Chapter 13 Plan And Notice Fixing Time To Object (For Cases Filed After 10-16-05)

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF ILLINOIS IN RE: ) Chapter 13 ) Debtor(s) (hereafter Debtor). ) Case No: _____ ORIGINAL // _____ AMENDED CHAPTER 13 PLAN AND NOTICE FIXING TIME TO OBJECT (FOR CASES FILED AFTER 10/16/05) _______Unless checked here, this Plan is the standard Plan. Any deviation or change in the standard plan language must be included and detailed in number 16 of the plan below. You should read this Plan carefully and discuss it with your attorney. Confirmation of this Plan by the Bankruptcy Court may modify your rights by providing for pay ment of less than the full amount of your claim, by setting the value of the collateral securi ng your claim, and/or by setting the interest rate payable on your claim. NOTICE FIXING TIME TO OBJECT: Any objection to the Plan must be filed w ith the Court, and served on the Debtor, Debtors counsel (if any), and the Chapte r 13 Trustee. In the case of an original plan, the objection must be filed and served within 20 days aft er the first scheduled date of the meeting of creditors pursuant to Section 341 of the bankruptcy code. In the case of an amended plan, the objection must be filed and served within 20 days after the da te of filing of the amended plan or motion to amend. Absent objections, the Court may confirm/appro ve this Plan without further hearing. The Local Rules and the Courts Instructions For Use of Standard Plan should be consulted for every plan as they contain instructions and definitions th at are crucial to understanding this plan. The Local Rules and the Courts Instructions for Use of the Standard Plan can be found at the courts website at http://www.ilsb.uscourts. gov/. UIMPORTANT NOTICE TO SECURED CREDITORS U: a. YOU MUST SHOW PROOF OF LIEN PERFECTION AT THE TIME YOUR CLAIM IS FILED AND YOU MUST MAIL SUCH PROOF TO ALL INTERESTED PARTIES PURSUANT TO SECTION II(A)(3)(b) OF THE COURTS ADMINISTRATIVE PROCEDURES GOVER NING ELECTRONIC FILING (ATTACHED AS EXHIBIT 1 TO STANDING ORDER 02-1). b. DISTRIBUTION TO SECURED CREDITORS WHO OBTAIN RELIEF FROM THE AUTOMATIC STAY WILL TERMINATE ON ENTRY OF SUCH ORDER LIFTING THE STAY, NOTWITHSTANDING ANY OTHER TERM OF THIS PLAN TO THE CONTRARY, EXCEPT TO THE EXTENT AN UNSECURED DEFICIENCY CLAIM IS FILED, WHICH WILL BE PAID AS A GENERAL UNSECURED CLAIM. c. HOLDERS OF SECURED CLAIMS WILL RETAIN THE LIEN SECURING SUCH CLAIMS TO THE EXTENT PROVIDED IN 11 U.S.C. 1325(a)(5)(B). d. SECURED CREDITORS WILL RECEIVE ADEQUATE PROTECTION PAYMENTS AND SPECIFIED MONTHLY PAYMENTS (HEREINAFTER SMP) THROUGHOUT THE PLAN AS SE T FORTH BELOW. 1. Submission of Income: Debtor submits to the supervision and control of the chapter 13 Trustee (hereafter Trustee) all or such portion of future earnings or other future income of Debtor as is necessary for the execution of this Plan. 2. Plan Duration and Payments: a. Plan Duration: ____ months, unless all allowed claims, other than long-term claims, are paid in full in a shorter period. 1 American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 2 b. Payments: (1) Regular Monthly Payments: Debtor will pay $___________ per month to the Trustee by ____ payroll deduction or by ____ direct payments for the duration of the plan (see 2d below). (2) Monthly Step Plan Payments: Debtor will pay $___________ per month for ___ months, then $________ per month for the remaining duration of the plan to the Trustee by ____ payroll deduction or by ____ direct payments. (3) Total Paid In (TPI) Step Plan Payments: Debtor will pay $________ to the Trustee through _______, 20__, then Debtor will pay $_____________ per month to the Trustee for the remaining duration of the plan by ____ payroll deduction or by ____ direct payments. (4) If plan payments are to be paid by payroll deduction, the bankruptcy clerk shall send a wage deduction order to the following employer: (5) Other Payments to Trustee: Debtor will pay other payments to the trustee (for example, proceeds of sale, recovery on lawsuit, tax refund) as follows: 3. Pre-confirmation Distributions: Debtor shall not make any pre-confirmation adequate protection payments directly to creditors. Pursuant to the Courts Standing Order for Chapter 13 Case Administration entered 10/12/2005 and beginning with the first distribution after the completion of the Debtors meeting of creditors, the Trustee shall make pre-confirmation disbursements pursuant to the provisions of this Plan. 4. Claims Generally: Claims will be paid as the Plan provides. Claims must be filed in order to receive payment. If a debt to a creditor is specifically listed herein, then the UAMOUNTS , CLASSIFICATIONS, INTEREST RATES AND MONTHLY PAYMENTS LISTED HEREIN ARE BINDING ON SUCH CREDITOR, AND ARE CONSIDERED AN ADJUDICATION OF SAME UPON ENTRY OF THE ORDER CONFIRMING / APPROVING THE PLAN. IF ANY CREDITOR DISAGREES WITH ITS PROPOSED TREATMENT OR THE ITEMS TO BE ADJUDICATED ABOVE, A TIMELY OBJECTION MUST BE FILED. This adjudication is binding upon the creditor for the duration of this bankruptcy and after the bankruptcy is completed provided the Debtor completes this plan and the Court enters an order discharging debt. If the Debtor fails to receive a discharge or the Debtors case is dismissed, then the adjudication and determination of the creditors rights herein by confirmation shall no longer have any effect and will be null and void. 5. Administrative Attorneys Fees: a. Court approved flat fee and optional fee application for adversaries. (1) Debtors attorneys fees shall be paid the Court approved flat fee of _____$3,500.00 (non-business bankruptcy) or ______$4,000.00 (business bankruptcy). The amount of $ was paid prior to the filing of the case. The balance of the attorneys fees, $________, will be paid as a SMP of $__________ for the first ______ months, then shall be paid $______ per month until the attorneys fees are paid, and (2) Upon notice and hearing, the Court may award additional attorneys fees for the defense or prosecution of adversary proceedings upon approval of a fee application pursuant to the standards set forth by this Court in the case of In re Wiedaus, Inc.,78 B.R. 904 (Bankr.S.D.Ill.1987). Upon entry of such an award, the plan shall be amended to pay such fees in equal monthly installments over the next 12 month period or the remaining time left in the bankruptcy, whichever is less. b. Court approved fee applications. Attorneys may alternatively elect to be paid attorneys fees by submittin