Michigan Filing Chapter 13:
Once the fee is paid and case number assigned in a Michigan bankruptcy case, deadlines for submitting a proposed plan and meeting with the creditors begin counting downward. Debtors must prove their ability to make plan payments from disposable income, after living allowances, for the duration of the plan.
| 11 U.S.C. §1326 provides, in part, (a) (1) Unless the court orders otherwise, the debtor shall commence making the payments proposed by a plan within 30 days after the plan is filed. (2) A payment made under this subsection shall be retained by the trustee until confirmation or denial of confirmation of a plan. If a plan is confirmed, the trustee shall distribute any such payment in accordance with the plan as soon as practicable. If a plan is not confirmed, the trustee shall return any such payment to the debtor, after deducting any unpaid claim allowed under section 503(b) of this title. |
NOTICE OF AMENDED FORMS AND AUTOMATIC ADJUSTMENTS TO DOLLAR AMOUNTS: On April 1, 2004, automatic adjustments to the dollar amounts stated in various provisions of the Code will become effective in Michigan Bankruptcy Courts. The new dollar amounts will apply to cases filed after the effective date. These amended dollar amounts will affect the eligibility of a debtor to file under Chapter 13 of the Code, certain maximum values of property that a debtor may claim as exempt, the maximum amount of certain claims entitled to priority, the minimum aggregate value of claims needed to commence an involuntary petition, and the value of luxury foods and services deemed to be nondischargeable. The Michigan Bankruptcy Courts will adopt new forms to incorporate these changes beginning April 1, 2004.
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