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Chapter 13 Postconfirmation Duties

Posted: Thu Aug 16, 2012 4:52 pm
by Yahoo Bot

I recently had my first Central District chapter 13 plan confirmed (Dockery/Klein). I just read the attachment to the confirmation order, which essentially restates Code Section 521(f)(4) & (g) requiring all debtors to provide income and expense statements to the trustee yearly. The attachment then goes further and requires debtors engaged in business to provide P&Ls, bank statements and a balance sheet every 6 months. I did not find any local rule or form on this issue, nor is the preparation of these annual reports mentioned in the RARA form. My questions: are these annual reporting requirements enforced? If they are, do the local trustees typically seek to modify plans based upon healthier than expected financials? And finally, do any of you see any problem with charging a fee for preparing the reports? Any enlightenment would be most welcome.

The post was migrated from Yahoo.