The New Chapter 13 Plan in Operation: The Good, The Bad, and The Ugly

Posted on January 5, 2018. Filed under: Uncategorized |

A Chapter 13 Bankruptcy Trustee in Kentucky Gives Her Initial Review of the New Form Chapter 13 Bankruptcy Plan in Operation.

Chapter 13 Trustee, EDKY: Trustee's Blog

The new chapter 13 plan form has been in use for a month now.  I’ve looked at about 125 plans, mostly from Best Case and CinCompass, with a few prepared in MS Word.  Some aspects of the plan form work well, but attorneys for debtors and for creditors need to be aware of common glitches and errors to watch for.

THE GOOD:

1) These boxes on page 1 of the plan are almost always checked correctly:plan notices included not includedI have seen a handful where all of the “included” boxes are checked, but none of the provisions is actually included.  A mistake or an exercise of caution?

2)  With plans prepared using a software program, if a section is marked “none,” the rest of the section is not reproduced.  A 10-page form can be condensed into a much shorter plan to be printed and served. if none is checkedTHE BAD:

1) The total amount of plan…

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