Guidelines for Plan Modifications After Confirmation
Please adhere to the following procedures when calculating a plan modification after confirmation:
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Obtain a ledger sheet from this office.
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Determine total amount the debtor has paid to Trustee.
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The Court has determined the maximum number of plan payments which can be skipped is three (3) months. Ensure your proposed modification skips no more than three (3) plan payments.
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Any skipped payments MUST be cured within a twelve (12) month period.
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UNSECURED CREDITORS must receive the same amount they would have received under the original confirmed plan.
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PLEASE NOTE THAT THE TRUSTEE CANNOT DISBURSE TO CREDITORS WHEN THE PLAN IS UNDERGOING MODIFICATION. PLEASE DO NOT ASK THE TRUSTEE TO DO SO.
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If a modification has been approved by the Court and an order has been entered, the Trustee's office will disburse the funds during the NEXT MONTHLY DISBURSEMENT CYCLE after the Order has become final. If the Trustee's office has not disbursed funds in accordance with this paragraph, please contact the trustee's office to inquire as to the reason for the delay in distribution.
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The MOVING PARTY is responsible for submitting a proposed modification order to the Bankruptcy Court.