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Motions to Modify in Ch. 13
Thanks. That's the answer I was looking for. Your thinking comports with mine.
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Tuesday, May 10, 2005 10:42 AM
Subject: RE: [cdcbaa] Motions to Modify in Ch. 13
Mark:
I normally calculate the percentage based on the claims filed when modifying post-confirmation. I am assuming you are past the claims bar date. If the percentage to unsecured is increasing, obviously there is no "detrimental effect" to these creditors but I will still serve the motion on all creditors.
The fact that you're increasing the percentage to unsecured creditors (even though you are lowering payments based on debtor's decreased income, I assume) means that you're proposing a BETTER PLAN than the one confirmed. Trustee should have no problem approving it.
Ray Bulaon
Mark J. Markus
Sent: Friday, May 06, 2005 9:04 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Motions to Modify in Ch. 13
I need to do a motion to modify plan payments for a client of mine. The local rules are unclear as to whom I need to serve. It is
clear for motions to SUSPEND plan payments, but not for motions to modify. Do I need to serve all creditors with the notice?
Also, it requires us to put in how the percentage will change to the unsecureds. How the heck do I calculate that? Do I use the claims that
were actually filed? If I do that, it will actually show an increase in percentage even though I'm substantially lowering the monthly plan payment. Is that right? Just wondering how others in the group normally handle this.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
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The post was migrated from Yahoo.
Mark:
I normally calculate the percentage based on the claims filed when
modifying post-confirmation. I am assuming you are past the claims bar
date. If the percentage to unsecured is increasing, obviously there is
no "detrimental effect" to these creditors but I will still serve the
motion on all creditors.
The fact that you're increasing the percentage to unsecured creditors
(even though you are lowering payments based on debtor's decreased
income, I assume) means that you're proposing a BETTER PLAN than the one
confirmed. Trustee should have no problem approving it.
Ray Bulaon
________________________________
The post was migrated from Yahoo.
Thanks, Ty. This is with Rojas' office. The percentage to unsecureds will technically be increasing even though the monthly payment is being lowered, because less claims were filed than we originally scheduled. This is precisely what led me to my question. I don't know which figures to use to calculate the percentage.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Monday, May 09, 2005 7:34 AM
Subject: RE: [cdcbaa] Motions to Modify in Ch. 13
Mark,
I've done close to 75 MOMODS, (most with Kathy Dockery's office). Serve all creditors. Creditors must be notified because there is probably some detrimental effect on them, (e.g., getting paid over an additional 10
months, etc.). Check box that states, "no change" if unsecured cr's. with
ALLOWED POCs. Kathy Dockery printed a booklet on the nuts and bolts of
modifications about 1 or 2 years ago. I'll see if I can find it. Someone else in the group might have a copy also.
Ty Takeuchi
>Reply-To: cdcbaa@yahoogroups.com
>To:
>Subject: [cdcbaa] Motions to Modify in Ch. 13
>Date: Fri, 6 May 2005 09:04:04 -0700
>
>I need to do a motion to modify plan payments for a client of mine. The
>local rules are unclear as to whom I need to serve. It is
>clear for motions to SUSPEND plan payments, but not for motions to modify.
>Do I need to serve all creditors with the notice?
>
>Also, it requires us to put in how the percentage will change to the
>unsecureds. How the heck do I calculate that? Do I use the claims that
>were actually filed? If I do that, it will actually show an increase in >percentage even though I'm substantially lowering the monthly plan payment.
>Is that right? Just wondering how others in the group normally handle
>this.
>
>
>***********************************************
>Mark J. Markus
>Law Office of Mark J. Markus
>11684 Ventura Blvd. PMB #403
>Studio City, CA 91604-2652
>(818)509-1173
>(818)509-1460 (fax)
>e-mail: bklawr@bklaw.com
>web: http://www.bklaw.com/
>************************************************
>Confidentiality Note: This e-mail is intended only for the person or
>entity to which it is addressed and may contain information that is
>privileged,
>confidential, or otherwise protected from disclosure. Dissemination,
>distribution, or copying of this e-mail or the information herein by anyone
>other than the intended recipient, or an employee or agent responsible for
>delivering the message to the intended recipient, is prohibited. If you
>have received this e-mail in error, please notify us immediately at (818)
>509-1173 or e-mail us at bklawr@bklaw.com and destroy the
>original message and all copies.
>
>
>
Yahoo! Groups Links
a.. To visit your group on the web, go to:
http://groups.yahoo.com/group/cdcbaa/
b.. To unsubscribe from this group, send an email to:
cdcbaa-unsubscribe@yahoogroups.com
c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Thanks, Ty. This is with Rojas'
office. The percentage to unsecureds will technically be increasing even
though the monthly payment is being lowered, because less claims were filed than
we originally scheduled. This is precisely what led me to my
question. I don't know which figures to use to calculate the
percentage.
***********************************************Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173(818)509-1460 (fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.
Mark,
I've done close to 75 MOMODS, (most with Kathy Dockery's office). Serve
all creditors. Creditors must be notified because there is probably some
detrimental effect on them, (e.g., getting paid over an additional 10
months, etc.). Check box that states, "no change" if unsecured cr's. with
ALLOWED POCs. Kathy Dockery printed a booklet on the nuts and bolts of
modifications about 1 or 2 years ago. I'll see if I can find it. Someone
else in the group might have a copy also.
Ty Takeuchi
>Reply-To: cdcbaa@yahoogroups.com
>To:
>Subject: [cdcbaa] Motions to Modify in Ch. 13
>Date: Fri, 6 May 2005 09:04:04 -0700
>
>I need to do a motion to modify plan payments for a client of mine. The
>local rules are unclear as to whom I need to serve. It is
>clear for motions to SUSPEND plan payments, but not for motions to modify.
>Do I need to serve all creditors with the notice?
>
>Also, it requires us to put in how the percentage will change to the
>unsecureds. How the heck do I calculate that? Do I use the claims that
>were actually filed? If I do that, it will actually show an increase in
>percentage even though I'm substantially lowering the monthly plan payment.
>Is that right? Just wondering how others in the group normally handle
>this.
>
>
>***********************************************
>Mark J. Markus
>Law Office of Mark J. Markus
>11684 Ventura Blvd. PMB #403
>Studio City, CA 91604-2652
>(818)509-1173
>(818)509-1460 (fax)
>e-mail: bklawr@bklaw.com
>web: http://www.bklaw.com/
>************************************************
>Confidentiality Note: This e-mail is intended only for the person or
>entity to which it is addressed and may contain information that is
>privileged,
>confidential, or otherwise protected from disclosure. Dissemination,
>distribution, or copying of this e-mail or the information herein by anyone
>other than the intended recipient, or an employee or agent responsible for
>delivering the message to the intended recipient, is prohibited. If you
>have received this e-mail in error, please notify us immediately at (818)
>509-1173 or e-mail us at bklawr@bklaw.com and destroy the
>original message and all copies.
>
>
>
The post was migrated from Yahoo.
I need to do a motion to modify plan payments for a client of mine. The local rules are unclear as to whom I need to serve. It is
clear for motions to SUSPEND plan payments, but not for motions to modify. Do I need to serve all creditors with the notice?
Also, it requires us to put in how the percentage will change to the unsecureds. How the heck do I calculate that? Do I use the claims that
were actually filed? If I do that, it will actually show an increase in percentage even though I'm substantially lowering the monthly plan payment.
Is that right? Just wondering how others in the group normally handle this.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
I need to do a motion to modify plan payments for a client of
mine. The local rules are unclear as to whom I need to serve.
It is clear for motions to SUSPEND plan payments, but not for motions to
modify. Do I need to serve all creditors with the notice?Also, it
requires us to put in how the percentage will change to the unsecureds.
How the heck do I calculate that? Do I use the claims that were
actually filed? If I do that, it will actually show an increase in
percentage even though I'm substantially lowering the monthly plan payment.Is that right? Just wondering how others in the group normally handle
this.
***********************************************Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173(818)509-1460 (fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.