Credit claims and plan approval

[lebt2006]

I'm in a Chapter 13 100% plan, and right now am awaiting 341 meeting. I have a question for all of you out there that one or many of you might be able to answer. Found out not too long ago that out of the scheduled creditor claims we had, only 42% of the total number of claims were, well, claimed by creditors. I look at it as a blessing, as the number overall owed dropped enough that my case will not take 60 months to finish. So what my question would be, would a trustee not approve and maybe dismiss the plan all together due to not having at least half the claims being claimed?

[shipo]

I seriously doubt it. I'm not saying it isn't possible, but I believe it to be highly improbable.

[sophieanne]

No...that’s not going to happen. I remember a few years ago, a member had only 1 claim filed and was done in no time...that is rare but it happened. Your case will proceed with the filed claims. Good luck as you go forward😀

[despritfreya]

1. In general and unless the court orders otherwise, creditors have 70 days from the filing date to file a "timely" proof of claim. Government agencies have up to 180 days. See Bankruptcy Rule 3002.

2. Unless your 341 is set to be held beyond the 70th day after filing the non-governmental claims bar date has not passed.

3. Until the claims bar date passes (both the 70 day and 180 day mark) you do not know what the claims total.

4. Pursuant to Rule 3004 the trustee (or the debtor) has 30 days after the claims bar date to file a claim on behalf of a creditor. While possible, I have never seen a trustee do this in a Chapter 13.

So, are you beyond the claims bar date either established by the Rules or by the Court? If "yes", then your Plan base is set. If "no", you are still in that wait & see period.

Des.

[lebt2006]

thanks for all your help!

[justbroke]

4. Pursuant to Rule 3004 the trustee (or the debtor) has 30 days after the claims bar date to file a claim on behalf of a creditor. While possible, I have never seen a trustee do this in a Chapter 13.

My Trustee also didn't file any claims, and I had to file 2, for property taxes.