John,
an objection to the plan by
the holder of the allowed secured claim (secured creditor) receiving
unequalmonthly(periodic) payments is equivalent to acceptance of the plan
under 1325(a)(5)(A). I don't believe that the Chapter 13 Trustee has the
authority to object on behalf of the secured creditor on this issue.
Peter
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Blvd, Suite 203, Culver City, CA 90230-4647
Telephone: (310)391-2400 * (800)307-3328 * Fax: (310)391-2462
A-Bankruptcy-Attorney.com
Personal Financial Law Center II - Costa Mesa, CA
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________________________________
To:
cdcbaa@yahoogroups.com
Sent: Sun, August 8, 2010 8:43:39 PM
Subject: [cdcbaa] Equal Paments for Secured Creditor Arrearages?
At a 341 hearing, I was told that my "step up" payment plan wouldn't work
because it didn't provide for equal monthly payments to repay the mortgagearrearages (the plan goes from $100/mo for months 1-12, then $665/mo for months
13-60 (due to child support payments being discontinued a the end of month 12).
The plan is a 1% diviident plan with little money to the unsecured creditors.
Any suggestions on how to make it work to get confirmation.
John Boyko
LAW OFFICES OF JOHN M. BOYKO
3521 Lomita Blvd., Suite 100
Torrance, CA 90505
310-750-6789 (Office)
310-300-0263 (Fax)
John,
You can take the position that the absence of an objection to the plan by the holder of the allowed secured claim (secured creditor) receiving unequal monthly (periodic) payments is equivalent to acceptance of the plan under 1325(a)(5)(A). I don't believe that the Chapter 13 Trustee has the authority to object on behalf of the secured creditor on this issue.
Peter Peter M. Lively, JD/MBALaw Office of Peter M. Lively * Personal Financial Law Center I11268 Washington Blvd, Suite 203, Culver City, CA 90230-4647Telephone: (310)391-2400 * (800)307-3328 * Fax: (310)391-2462 A-Bankruptcy-Attorney.comPersonal Financial Law Center II - Costa Mesa, CA
THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY BY E-MAIL OR BY TELEPHONE. THANK YOU.
From: John Boyko <
jboyko@gmail.com>To:
cdcbaa@yahoogroups.comSent: Sun, August 8, 2010 8:43:39 PMSubject: [cdcbaa] Equal Paments for Secured Creditor Arrearages?
At a 341 hearing, I was told that my "step up" payment plan wouldn't work because it didn't provide for equal monthly payments to repay the mortgage arrearages (the plan goes from $100/mo for months 1-12, then $665/mo for months 13-60 (due to child support payments being discontinued a the end of month 12). The plan is a 1% diviident plan with little money to the unsecured creditors. Any suggestions on how to make it work to get confirmation.-- John BoykoLAW OFFICES OF JOHN M. BOYKO3521 Lomita Blvd., Suite 100Torrance, CA 90505310-750-6789 (Office)310-300-0263 (Fax)
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