Exam 6: The Exam 13 Bankruptcy Adjustment of Debts of an Individual With Regular Income

A Chapter 13 plan must provide for the payment of priority claims with interest.

A Chapter 13 debtor receives a discharge upon confirmation of the Chapter 13 plan.

All tax returns required of a debtor within four years of the bankruptcy filing must be filed by a Chapter 13 debtor by the date of the meeting of creditors.

After the order for relief, the standing Chapter 13 trustee or another individual, if there is no standing trustee, or the United States trustee will serve as the trustee in the case.

Payments on secured claims must be made in equal monthly installments.

With the exception of domestic support obligations assigned to a governmental unit, for a Chapter 13 plan to be confirmable, it must provide for the full payment of claims entitled to priority, unless the holder of the claim agrees to a different treatment and the all of the debtor's projected disposable income for a five year period will be applied to make payments under the plan. (T)

How do the duties of a Chapter 13 trustee differ from the duties of a Chapter 7 trustee?

How often is a Chapter 13 debtor eligible for a discharge after having received a discharge in a previous bankruptcy case under Chapter 7?

The confirmation hearing must be held within 30 days of the meeting of creditors.

A Chapter 13 plan may not alter the terms of repayment of loans from pension and tax-exempt retirement plans.

The applicable commitment period is determined by a debtor's median family income.

All persons eligible to file under Chapter 7 are eligible under Chapter 13.

Briefly describe what occurs at the hearing on confirmation of the Chapter 13 plan.

At any time after the confirmation of the plan but before the completion of payments under the plan, the debtor, the trustee, or the holder of an allowed unsecured claim may request the court to modify the plan.

What restrictions apply to lien-stripping secured claims in Chapter 13?

Briefly describe when a Chapter 13 cramdown occurs.

The superdischarge has been virtually eliminated by BAPCPA.

What is included in property of a Chapter 13 estate?

Briefly describe the duties of the Chapter 13 trustee.

Define "applicable commitment period."