Questions about the confirmation process

[PurplePanda]

I am post-341 and pre-confirmation. I am under median and I think my proposed plan is 0%. My initial confirmation hearing was scheduled to take place earlier this week but it was adjourned for another month. As my attorney explained, that is usual and to be expected. A couple secured creditors filed objections over small amounts and my attorney said that he is working it out with their attorneys.

My questions: My 341 went smoothly and the trustee seemed satisfied. To my knowledge, the trustee did not flag anything and, to date, he has not filed an objection to confirmation of my plan. Once my attorney resolves the objections filed by the secured creditors, and if the trustee is satisfied with my plan, is it normal course for the judge to confirm the proposed plan? Or, does the judge sometimes object or take issue with a proposed plan despite the trustee being satisfied with it? Also, I am curious to know what happens when confirmation is delayed six months to a year. If the payment is increased in the confirmed plan for whatever reason, would the confirmed payment amount be retroactive and would a debtor be required to pay the deficiency because the pre-confirmation payments made were less than the confirmed payment amount? Also, what if an unconfirmed plan proposed that a debtor be allowed to keep an employment bonus or tax refund, which occurred in the pre-confirmation time period, but it was not allowed in the confirmed plan? Would the debtor be required to pay back the bonus/refund?

Thanks for your help!

[womanonfire]

You're paying 0% to secured creditors?

I would think that if your plan is confirmed, then there would be no increase in payment without a significant change in circumstances such as an increase in income and a bonus and tax refund might be. In a 0% percent plan, I would think that you would have to give up tax refunds and bonuses. But I don't know this because I am not an attorney and you should certainly ask yours and come back here and post the answer so we all know!

[PurplePanda]

You're paying 0% to secured creditors?

I would think that if your plan is confirmed, then there would be no increase in payment without a significant change in circumstances such as an increase in income and a bonus and tax refund might be. In a 0% percent plan, I would think that you would have to give up tax refunds and bonuses. But I don't know this because I am not an attorney and you should certainly ask yours and come back here and post the answer so we all know!

I am paying 0% to unsecured creditors. I have two secured creditors. One of the debts is included in my plan and I am paying the other outside of my plan. My plan proposes that I keep a portion of my bonuses and that I give up my tax refunds. My attorney proposed this and said the trustee would most likely be satisfied with the plan.

[womanonfire]

I am paying 0% to unsecured creditors. I have two secured creditors. One of the debts is included in my plan and I am paying the other outside of my plan. My plan proposes that I keep a portion of my bonuses and that I give up my tax refunds. My attorney proposed this and said the trustee would most likely be satisfied with the plan.

When you wrote" "I am under median and I think my proposed plan is 0%" and you mentioned secured creditors, it came across to me like you were in a 0% plan all around, thus paying nothing to the secured creditors that you mentioned filed objections.

What is the basis of the secured creditor's objections? Asking out of curiosity because I don't have an answer to your question but your attorney should.

[PurplePanda]

What is the basis of the secured creditor's objections? Asking out of curiosity because I don't have an answer to your question but your attorney should.

My mortgage lender objected because there is a small escrow account shortage. The other secured creditor objected because my plan payment includes this debt and the creditor alleges that the plan payment does not adequately cover a small amount of non-exempt equity. This debt is with a credit union and it is being crammed down. I don't entirely understand the objection but it is over a relatively small amount.