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Modification of Plan for Percentage Discrepency
Lower it to the percentage that the payment they agreed to will cover the
lowered percentage and pay a fee app for you doing the MoMod
R. Grace Rodriguez, Esq.
Full service Real Estate Attorney &
California State Bar
Certified Bankruptcy Specialist
OFF: (818) 734-7223
CEL: (818) 554-9922
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On Wed, Mar 2, 2016 at 2:12 PM, sam@southbaybk.com [cdcbaa] wrote:
>
>
> Practice pointer question: I have a case before Ms. Curry in which we
> confirmed a disposable income plan to pay 8% to class 5 creditors. Based
> upon claims filed, the plan is now about $4,000 short. The notice of
> intent to pay claims points out that the plan is underfunded, so I know I
> have to do a MoMod to pay the extra in. My question is: can I instead get
> a MoMod through to lower the percentage paid while keeping the payments
> level? Just curious if anyone else has tried this.
>
>
>
Lower it to the percentage that the payment they agreed to will cover the lowered percentage and pay a fee app for you doing the MoMod
The post was migrated from Yahoo.
Yes. I have done several.
On Mar 2, 2016 2:54 PM, "'Steven L. Bryson' SLBLAW1@aol.com [cdcbaa]" wrote:
>
>
> I don't see why not. Just be careful not to violate Sec 1325(a)(4) when
> you reduce the percentage.
>
>
> *Steven L. Bryson *Attorney at Law
> *Certified Bankruptcy Specialist*
> *State Bar of California*
> *Board of Legal Specialization*
> *11377 W. Olympic Bl., Ste 500*
> *Los Angeles, CA 90064*
>
> *310-477-4555 *www.file4bankruptcy.com
>
>
> -----Original Message-----
> To: cdcbaa
> Sent: Wed, Mar 2, 2016 2:12 pm
> Subject: [cdcbaa] Modification of Plan for Percentage Discrepency
>
>
> Practice pointer question: I have a case before Ms. Curry in which we
> confirmed a disposable income plan to pay 8% to class 5 creditors. Based
> upon claims filed, the plan is now about $4,000 short. The notice of
> intent to pay claims points out that the plan is underfunded, so I know I
> have to do a MoMod to pay the extra in. My question is: can I instead get
> a MoMod through to lower the percentage paid while keeping the payments
> level? Just curious if anyone else has tried this.
>
>
Yes. I have done several.
On Mar 2, 2016 2:54 PM, "'Steven L. Bryson' SLBLAW1@aol.com [cdcbaa]" <cdcbaa@yahoogroups.com> wrote:
I don't see why not. Just be careful not to violate Sec 1325(a)(4) when you reduce the percentage.
Steven L. Bryson
Attorney at Law
Certified Bankruptcy Specialist
State Bar of California
Board of Legal Specialization
11377 W. Olympic Bl., Ste 500
Los Angeles, CA
The post was migrated from Yahoo.
I don't see why not. Just be careful not to violate Sec 1325(a)(4) when you reduce the percentage.
Steven L. Bryson
Attorney at Law
Certified Bankruptcy Specialist
State Bar of California
Board of Legal Specialization
11377 W. Olympic Bl., Ste 500
Los Angeles, CA 90064
310-477-4555
www.file4bankruptcy.com
To: cdcbaa
Sent: Wed, Mar 2, 2016 2:12 pm
Subject: [cdcbaa] Modification of Plan for Percentage Discrepency
Practice pointer question: I have a case before Ms. Curry in which we confirmed a disposable income plan to pay 8% to class 5 creditors. Based upon claims filed, the plan is now about $4,000 short. The notice of intent to pay claims points out that the plan is underfunded, so I know I have to do a MoMod to pay the extra in. My question is: can I instead get a MoMod through to lower the percentage paid while keeping the payments level? Just curious if anyone else has tried this.
I don't see why not. Just be careful not to violate Sec 1325(a)(4) when you reduce the percentage.
Steven L. Bryson
Attorney at Law
Certified Bankruptcy Specialist
State Bar of California
Board of Legal Specialization
11377 W. Olympic Bl., Ste 500
Los Angeles, CA 90064
310-477-4555
www.file4bankruptcy.com
-----Original Message-----
To: cdcbaa <cdcbaa@yahoogroups.com>
Sent: Wed, Mar 2, 2016 2:12 pm
Subject: [cdcbaa] Modification of Plan for Percentage Discrepency
Practice pointer question: I have a case before Ms. Curry in which we confirmed a disposable income plan to pay 8% to class 5 creditors. Based upon claims filed, the plan is now about $4,000 short. The notice of intent to pay claims points out that the plan is underfunded, so I know I have to do a MoMod to pay the extra in. My question is: can I instead get a MoMod through to lower the percentage paid while keeping the payments level? Just curious if anyone else has tried this.
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The post was migrated from Yahoo.