Bankruptcy Law

Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Bankruptcy Law
This answer was rated:

Chp13 Plan Objection next steps

I filed an objection to...
I filed an objection to a chp13 plan. It was after the 341 hearing, but within deadline to object ot exemptions, and filing of plan hearing of confirmation of plan. I heard from the debtor attorney. He says the plan will be approved because is is 100% payout. I objected because debtor grossly understated his income and concealed assets. Debtors has unreported additional assest of 34k and additional monthly income of 5k. Should contact the trustee next?
Show More
Show Less
Ask Your Own Bankruptcy Law Question
Answered in 6 minutes by:
11/5/2012
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,910
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
Verified

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

The objection will be heard at confirmation.

Terry L. :

True, 100% plans make most of the issues moot.

Terry L. :

The means test sets out the repayment rules, not necessarily schedules I & J.

Terry L. :

If the means test requires 100% repayment, and the applicable commitment period is 60 months, The case would likely be confirmed.

Terry L. :

If the balance is wrong, the debtor would have to correct the balance your are set to receive if you are a secured creditor.

Terry L. :

You can contract the trustee, sure. Failure to disclose assets and income, while bad, still wouldn't affect a plan that proposes to pay 100%. Cases must pay enough unsecured debts to protect assets, so, best that can happen is to add interest to the plan if there are excess assets

Terry L. :

Do you have any questions?

Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,910
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
Verified
Terry L. and 87 other Bankruptcy Law Specialists are ready to help you
Ask your own question now

I heard you could not view the answer.

I've repasted it below and changed this to a Q&A. LEt me know if you have any other questions to followup. THanks

 

Terry

 

ANSWER:

 

Terry L. says:
11/5/12 11:27 AM

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

11/5/12 11:28 AM

The objection will be heard at confirmation.

11/5/12 11:28 AM

True, 100% plans make most of the issues moot.

11/5/12 11:29 AM

The means test sets out the repayment rules, not necessarily schedules I & J.

11/5/12 11:29 AM

If the means test requires 100% repayment, and the applicable commitment period is 60 months, The case would likely be confirmed.

11/5/12 11:30 AM

If the balance is wrong, the debtor would have to correct the balance your are set to receive if you are a secured creditor.

11/5/12 11:33 AM

You can contract the trustee, sure. Failure to disclose assets and income, while bad, still wouldn't affect a plan that proposes to pay 100%. Cases must pay enough unsecured debts to protect assets, so, best that can happen is to add interest to the plan if there are excess assets

11/5/12 11:33 AM

Do you have any questions?

 

Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.

Ask Your Own Bankruptcy Law Question
were you able to view the answer?
Ask Your Own Bankruptcy Law Question
Ask Terry L. Your Own Question
Terry L.
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,910
2,910 Satisfied Customers
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

Terry L. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Terry L.

Terry L.

Attorney

2,910 satisfied customers

Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

511 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

< Previous | Next >

Related Bankruptcy Law Questions
A few years ago I lost a house to the trustees. It went on a
A few years ago I lost a house to the trustees. It went on a short sale. Now the Franchise tax board says I Tax Board says I "earned" $184,000.00 and that I owe them $20,000.00 in taxes. Of course I r… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
Will my contracts with ATT, TV, and Cel phone be terminated
HI! will my contracts with ATT , TV, and Cel phone be terminated through bankruptcy 13 or 7? Thank you. … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Curcumstances: I just had my 341 meeting for Ch 7 last week.
Curcumstances: I just had my 341 meeting for Ch 7 last week. I passed the means test and have elected to reaffirm two of my debts. My document from the United States Bankruptcy Court (Official form 9A… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
If you have a trial scheduled and the US Trustees Office is
If you have a trial scheduled and the US Trustees Office is trying to get your case dismissed and you have been dealing with your attorney who has been doing things that will get him disbarred, how do… read more
Michael Bradley
Michael Bradley
JD
1,131 satisfied customers
I have a contract with a California corporation and the
I have a contract with a California corporation and the consideration are Pref shares of the company. There are three payments; an initial payment, 2 years later and 4 year later. Paid in thirds. The … read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,189 satisfied customers
Assignment of an executory contract in bankruptcy or a
Assignment of an executory contract in bankruptcy or a workout. If a corporation underwent an involuntary wind down. Say an ABC (Assignment for the benefit of Creditors) would the "sale of all or subs… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,992 satisfied customers
I have an Executory contract. A 10 year license of software.
I have an Executory contract. A 10 year license of software. We are the Licensor. The licensee has paid for the license with shares of its company (private). There are milestone payments. I believe th… read more
DrakeLAW
DrakeLAW
Juris Doctorate
838 satisfied customers
I have hard evidence that the Trustee and Trustee atty were
Hello - I have hard evidence that the Trustee and Trustee atty were negligent, breached their fiduciary duties and allowed my federal case of fraud in the inducement run the SOL, without pursuing as t… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,499 satisfied customers
The Trustee in a corporate bankruptcy case erased and/ or
The Trustee in a corporate bankruptcy case erased and/ or deleted tape recorded testimony of a key witness in a 2004 bankruptcy rule deposition. what recourse do I have being that witnesses testimony … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
5,946 satisfied customers
Second opinion] The Trustee in a corporate bankruptcy case
Second opinion] The Trustee in a corporate bankruptcy case erased and/ or deleted tape recorded testimony of a key witness in a 2004 bankruptcy rule deposition. what recourse do I have being that witn… read more
DrakeLAW
DrakeLAW
Juris Doctorate
838 satisfied customers
My confirmation meeting is next week and th trustee wants a
my confirmation meeting is next week and th trustee wants a modified plan so i won't be confirmed, what may happen … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,992 satisfied customers
In terms of the means test or debt limit issues in
In terms of the means test or debt limit issues in bankruptcy, does it matter if more than half of the debt is business debt?… read more
Terry L.
Terry L.
Attorney
2,910 satisfied customers
Can a debtor pick and choose which executory contracts they
Can a debtor pick and choose which executory contracts they want to either assume or reject in their bankruptcy schedule filing? Or do they need to assume all/reject all executory contracts.Also, is i… read more
Terry L.
Terry L.
Attorney
2,910 satisfied customers
I received notice from the Trustee of an "Order Striking
I received notice from the Trustee of an "Order Striking Filing For Failure To Comply With Required Procedures".I believe the problem is with a creditor who had an undeliverable address, however, I ha… read more
DrakeLAW
DrakeLAW
Juris Doctorate
838 satisfied customers
I had just filed chpt 13 met with trustee last Thursday I
I had just filed chpt 13 met with trustee last Thursday I got a surprise when I got home my son had paid off my home and car 359000 What do i do from here? … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
For a bankruptcy attorney. Let's say a person contracted
For a bankruptcy attorney. Hello, Let's say a person contracted with a business, and the business has filed bankruptcy. The business' bankruptcy attorney contacted the person and notified them that th… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,992 satisfied customers
I recently made my last chapter 13 payment to the trustees
I recently made my last chapter 13 payment to the trustees office. I fell behind on my mortgage and have been in a trial modification. On the notice of final cure my lender stated the amount I was del… read more
socrateaser
socrateaser
1,031 satisfied customers
Does the trustee need a court order to sell a debtors
Does the trustee need a court order to sell a debtors primary residence? The equity is claimed as exempt, but the trustee believes there is more equity in the house than the debtor claimed. Reference … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,992 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x