What is required for court approval of a chapter 13 plan?
The Court will confirm a Chapter 13 plan if: (a) the plan complies with the requirements of Chapter 13 generally; (b) all required fees, charges, deposits and payments have been made; (c) the plan has been proposed in good faith; (d) each secured creditor is allowed to retain his lien on his collateral and is paid the full amount of the secured claim under the plan; (e) each unsecured creditor will receive under the plan at least as much as the creditor would have received if you had filed a Chapter 7; and (f) it appears that the debtor will be able to make the required payments and to comply with the plan.
ANSWER – The court will approve and confirm a chapter 13 plan if it finds that: (1) all required fees, charges and deposits have been paid, (2) all priority claims will be paid in full under the plan, (3) if the plan creates different classes of claims, it provides the same treatment for each claim within a particular class, (4) the plan was proposed in good faith, (5) each unsecured creditor will receive under the plan at least as much as it would have received had the debtor filed a chapter 7 case, (6) the debtor will be able to make the required payments and comply with the plan, and (7) each secured creditor is dealt with in one of the four methods described in the answer to Question 18 above.
• all required fees, charges and deposits have been paid, • all priority claims will be paid in full under the plan, • if the plan creates different classes of claims, it provides the same treatment for each claim within a particular class, • the plan was proposed in good faith, • each unsecured creditor will receive under the plan at least as much as it would have received had the debtor filed a Chapter 7 case, • the debtor will be able to make the required payments and comply with the plan, and • each secured creditor is dealt with in one of the four methods described in the answer to Question 18 above.
The court will approve and confirm a chapter 13 plan if it finds that: (1) all required fees, charges and deposits been paid, (2) all priority claims will be paid in full under the plan, (3) if the plan creates different classes of claim provides the same treatment for each claim within a particular class, (4) the plan was proposed in good faith, (5) unsecured creditor will receive under the plan at least as much as it would have received had the debtor filed a chapter case, (6) the debtor will be able to make the required payments and comply with the plan, and (7) each secured creditor” dealt with in one of the four methods described in the answer to Question 18 above.
