Thursday, February 28, 2013

Tampa /FT Meyers New Ch 13 Plan March 15, 2013

The Model Plan now requires an affirmative representation that the plan conforms to the Model Plan, and strikes non-conforming provisions not set forth in Additional Provisions, paragraph 5. In addition, the Model Plan now permits the debtor to elect when property of the estate is vested in the debtor, either at confirmation or upon the debtor's discharge or dismissal of the case. See 11 U.S.C. § 1327(b). Debtors and their counsel should give careful consideration to this election, as it may result in significant legal consequences.