Paying off Ch. 13 plan after 60 months....case?
Posted: Fri Mar 04, 2016 2:02 pm
I believe the argument is that the code says "the plan may not provide for
payments over a period that is longer than 5 years."
When you modify the plan, the modified plan may not provide for payments
over a period that is longer than 5 years. Fine, but what if that
modification is 3 years into a confirmed case? There does not appear to be
language that ties the 5 years to the order for relief. Some would even say
1329(c) makes this explicit as it says the period can be extended beyond
what the original plan contemplated, for cause, except that extension may
not be for longer than 5 years.
I did not check the actual cases and their reasoning so there may be
different analysis out there.
Sincerely,
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On Fri, Mar 4, 2016 at 1:37 PM, Nicholas Gebelt ngebelt@gebeltlaw.com
[cdcbaa] wrote:
>
>
> Dear Mark,
>
>
>
> I am unaware of such a case, and in light of 11 U.S.C. 1322(d)(1)(C)
> and (2)(C), and 1329(c) I find it hard to imagine what the reasoning would
> be.
>
>
>
> All the best,
>
>
>
> Nick
>
>
>
> *Nicholas Gebelt*
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> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
> *Sent:* Friday, March 04, 2016 1:30 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Paying off Ch. 13 plan after 60 months....case?
>
>
>
>
>
> I recall there being a fairly recent case that said that a court could
> allow a Chapter 13 case to be paid off beyond the 60 months in certain
> circumstances.
>
> Does anyone have that case name/cite? I'm doing research for another firm
> and they have an urgent issue (facing dismissal, but debtor will be able to
> borrow to pay the remaining plan payments, but it's after the 60 months).
>
> --
>
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I believe the argument is that the code says "the plan may not provide for payments over a period that is longer than 5 years."When you modify the plan, the modified plan may not provide for payments over a period that is longer than 5 years. Fine, but what if that modification is 3 years into a confirmed case? There does not appear to be language that ties the 5 years to the order for relief. Some would even say 1329(c) makes this explicit as it says the period can be extended beyond what the original plan contemplated, for cause, except that extension may not be for longer than 5 years.I did not check the actual cases and their reasoning so there may be different analysis out there.
The post was migrated from Yahoo.