You're viewing Docket Item 11 from the case . View the full docket and case details.

Download this document:




Case 13-27992 Filed 06/27/13 Doc 11

UNITED STATES BANKRUPTCY COURTEASTERN DISTRICT OF CALIFORNIAName of Debtor:Susan Louise Magliano-BassoffCase No.13-27992Last four digits of Soc. Sec. No.:xxx-xx-5182Last four digits of Soc. Sec. No.:CHAPTER 13 PLANYOU WILL BE NOTIFIED OF THE DATE, TIME, AND LOCATION OF A HEARING TO CONFIRM THIS PLANAND OF THE DEADLINE TO OBJECT TO ITS CONFIRMATION. IN THE ABSENCE OF A TIMELYWRITTEN OBJECTION, THE PLAN MAY BE CONFIRMED WITHOUT A HEARING. IT WILL BE EFFECTIVEUPON ITS CONFIRMATION.Section 1. Plan Payments and Commitment Period1.01Monthly plan payments. To complete this plan, Debtor shall submit to the supervision and control ofTrustee on a monthly basis the sum of $ 200.00 from future earnings. This monthly plan payment is subject toadjustment pursuant to section 2.08(b)(4) below and it must be received by Trustee not later than the 25th day of eachmonth beginning the month after the order for relief under chapter 13. The monthly plan payment includes all post-petitioncharges due on Class 1 secured claims and adequate protection payments due on Class 2 secured claims.1.02.Other payments. In addition to the submission of future earnings, Debtor will make payment(s) derivedfrom property of the bankruptcy estate, property of Debtor, or from other sources, as follows: .1.03.Duration of payments. The monthly plan payments will continue for 60 months unless all allowedunsecured claims are paid in full within a shorter period of time. If necessary to complete the plan, monthly payments maycontinue for an additional 6 months, but in no event shall monthly payments continue for more than 60 months.Section 2. Claims and ExpensesA. Proofs of Claim2.01.With the exception of the payments required by sections 2.02, 2.03, 2.11, and 3.01, a claim will not bepaid pursuant to this plan unless a timely proof of claim is filed by or on behalf of a creditor, including a secured creditor.2.02.Monthly contract installments and other charges falling due after the filing of the case shall be paid toClass 1 and 4 claim holders and to the nondebtor party to assumed executory contracts/unexpired leases whether or notthe plan is confirmed or proofs of claim have been filed.2.03.Post-petition amounts due on account of a domestic support obligation, a loan from retirement or thriftsavings plan, or an executory contract/unexpired lease being assumed, shall be paid by Debtor directly to the personentitled to such payments whether or not the plan is confirmed or a proof of claim has been filed.2.04.The proof of claim, not this plan or the schedules, shall determine the amount and classification of a claimunless the court’s disposition of a claim objection, valuation motion, or lien avoidance motion affects the amount orclassification of the claim.B. Administrative Expenses2.05.Trustee's fees. Pursuant to 28 U.S.C. § 586(e), Trustee shall receive up to 10% of plan payments,whether made before or after confirmation, but excluding direct payments on Class 4 claims.2.06.Debtor's attorney's fees. Debtor’s attorney of record was paid $ 2,750.00 prior to the filing of thecase. Subject to prior court approval, additional fees of $ 2,500.00 shall be paid through this plan. Debtors' attorney willseek the court's approval by [choose one]: complying with Local Bankruptcy Rule 2016-1(c); or filing and serving aEDC 3-080 (effective 5/1/12)Page 1 of 6Software Copyright (c) 1996-2012 CCH INCORPORATED - www.bestcase.comBest Case BankruptcyCase 13-27992 Filed 06/27/13 Doc 11

motion in accordance with 11 U.S.C. §§ 329 and 330, Fed. R. Bankr. P. 2002, 2016, and 2017.2.07.Administrative expenses. In accordance with sections 4.02 and 4.03 below, $124.53 of each monthlyplan payment shall be paid on account of: (a) compensation due a former chapter 7 trustee; (b) approved administrativeexpenses; and (c) approved additional attorney’s fees. Approved administrative expenses shall be paid in full through thisplan except to the extent a claimant agrees otherwise or 11 U.S.C. § 1326(b)(3)(B) is applicable.C. Secured Claims2.08.Class 1 includes all delinquent secured claims that mature after the completion of this plan.(a) Cure of arrears. All arrears on Class 1 claims shall be paid in full by Trustee. The cure will be paid in the equalmonthly installments specified in the table below as the "arrearage dividend."(1) The cure shall include interest unless a "0%" rate is specified below. If the provision for interest is leftblank, interest will accrue at the rate of 10%.(2) The arrearage dividend must be applied by the Class I creditor to the arrears. If this plan provides forinterest on the arrears, the arrearage dividend shall be applied first to such interest, then to the arrears.(b) Post-petition charges. Trustee shall maintain all payments falling due after the filing of the case to the holderof each Class 1 claim.(1) If Debtor makes a partial plan payment that is insufficient to satisfy such post-petition payments,distributions will be made in the order such claims are listed below.(2) Trustee will not make a partial distribution on account of a post-petition payment.(3) If Debtor makes a partial plan payment, or if it is not paid on time, and Trustee is unable to make timelya post-petition payment, Debtor’s cure of this default shall include any late charge.(4) The automatic stay is modified to permit the holders of Class 1 claims to send statements, impound,and escrow notices, and notices concerning interest rate adjustments or the assessment of fees and coststo Debtor. However, Trustee will not make post-petition payment adjustments or pay post-petition fees,charges, or assessments until they are demanded in accordance with Fed. R. Bankr. P. 3002.1.(i) If the holder of a Class 1 claim gives Debtor and Trustee notice of a payment change inaccordance with Fed. R. Bankr. P. 3002.1(b), Debtor shall adjust the plan payment accordingly.(ii) If the holder of a Class 1 claim gives Debtor and Trustee notice of post-petition fees,expenses, and charges in accordance with Fed. R. Bankr. P. 3002.1(c), Debtor shall modify thisplan if Debtor wishes to provide for such fees, expenses, and charges.(5) Post-petition payments made by Trustee and received by the holder of a Class 1 claim shall be appliedas if the claim were current and no arrearage existed on the date the case was filed.(c) No claim modification. Each Class 1 creditor shall retain its lien. Other than to cure of any arrearage, thisplan does not modify Class 1 claims.Class 1 Creditor's Name/Collateral DescriptionAmount of ArrearsInterest Rateon ArrearsArrearageDividendMonthly ContractInstallment Amount-NONE-Totals: $0.00$0.002.09.Class 2 includes all secured claims that are modified by this plan, or that have matured or willmature before the plan is completed.(a) Payment of claim. Trustee shall pay each Class 2 claim the equal monthly amount specified below as themonthly dividend. Subject to section 2.09(c), Class 2 claims will be paid in full. The payment of a Class 2 claimshall include interest unless a "0%" rate is specified below. If no rate is specified, a 10% rate will be imputed.EDC 3-080 (effective 5/1/12)Page 2 of 6Software Copyright (c) 1996-2012 CCH INCORPORATED - www.bestcase.comBest Case BankruptcyCase 13-27992 Filed 06/27/13 Doc 11

(b) Adequate protection payments. Prior to confirmation, Trustee shall pay on account of each allowed Class 2claim secured by a purchase money security interest in personal property an adequate protection payment ifrequired by section 1326(a)(1)(C). The adequate protection payment shall equal the monthly dividend. Adequateprotection payments shall be disbursed by Trustee in connection with his customary month-end disbursementcycle beginning the month after the case was filed. If a Class 2 claimant is paid an adequate protection payment,that claimant shall not be paid a monthly dividend for the same month.(c) Claim amount. The amount of a Class 2 claim is determined by applicable nonbankruptcy law. However,subject to the two limitations below, Debtor may reduce the claim to the value of the collateral securing it by filing,serving, setting for hearing, and prevailing on a motion to determine the value of that collateral. If this planproposes to reduce a claim based upon the value of its collateral, the failure to move to value that collateral inconjunction with plan confirmation may result in the denial of confirmation.(1) Debtor is prohibited from reducing a claim if the claim holder has a purchase money security interestand the claim either was incurred within 910 days of the filing of the case and is secured by a motorvehicle acquired for the personal use of Debtor, or was incurred within 1-year of the filing of the case andis secured by any other thing of value.(2) Debtor is prohibited from modifying the rights of a holder of a claim secured only by a security interestin real property that is Debtor’s principal residence.(d) Lien retention. Each Class 2 creditor shall retain its existing lien until completion of the plan and, unless notrequired by Bankruptcy Court, entry of Debtor’s discharge.Class 2 Creditor's Name anddescription of collateralPurchaseMoney SecurityInterestpersonalproperty? YES/NOAmountclaimed bycreditorValue ofcreditor'sinterest in itscollateralInterest RateMonthlyDividendA. Class 2 claims not reducedbased on value of collateral1.Les Schwab Tire Center /TiresY329.004.00%55.47B. Class 2 claims reducedbased on value of collateral-NONE-C. Class 2 claims reduced to$0 based on value of collateral1.First Northern Bank of Dixon/3500 Pleasants TrailVacaville, CA 95688N99,996.000.000.00%0.00C. Class 2 claims reduced to$0 based on value of collateral2.John A. Deronde, Jr. /AllReal Property in SolanoCountyN11,528.000.000.00%0.00Total $55.472.10.Class 3 includes all secured claims satisfied by the surrender of collateral. Upon confirmation of theplan, all bankruptcy stays are modified to allow a Class 3 secured claim holder to exercise its rights against its collateral.Class 3 Creditor's Name/Collateral DescriptionEstimated DeficiencyIs Deficiency a Priority Claim?YES/NO1.Capital One/Best Buy /Household Goods1,096.00NEDC 3-080 (effective 5/1/12)Page 3 of 6Software Copyright (c) 1996-2012 CCH INCORPORATED - www.bestcase.comBest Case BankruptcyCase 13-27992 Filed 06/27/13 Doc 11

2.11.Class 4 includes all secured claims paid directly by Debtor or third party. Class 4 claims matureafter the completion of this plan, are not in default, and are not modified by this plan. These claims shall be paid by Debtoror a third person whether or not the plan is confirmed. Upon confirmation of the plan, all bankruptcy stays are modified toallow the holder of a Class 4 secured claim to exercise its rights against its collateral and any nondebtor in the event of adefault under applicable law or contract.Class 4 Creditor's Name/Collateral DescriptionMonthly Contract InstallmentPerson Making Payment1.Wells Fargo Bank /3500 Pleasants TrailVacaville, CA 956883,644.00Debtor2.12.Secured claims not listed as Class 1, 2, 3, or 4 claims are not provided for by this plan. The failureto provide for a secured claim in one of these classes may be cause to terminate the automatic stay.D. Unsecured Claims2.13.Class 5 consists of unsecured claimsentitled to priority pursuant to 11 U.S.C. § 507. These claimswill be paid in full except to the extent the claim holder has agreed to accept less or 11 U.S.C. § 1322(a)(4) is applicable.When section 1322(a)(4) is applicable to a claim, the claim holder and the treatment of the claim shall be specified in theAdditional Provisions. The failure to provide the foregoing treatment for a priority claim is a breach of this plan.Class 5 Creditor's NameType of PriorityClaim Amount-NONE-2.14.Class 6 includes designated unsecured claims, such as co-signed unsecured debts, that will be paid infull even though all other nonpriority unsecured claims may not be paid in full.Class 6 Creditor's NameReason for Special TreatmentClaim Amount-NONE-2.15.Class 7 consists of all other unsecured claims not listed as Class 5 or 6 claims. These claims willreceive no less than a 4 % dividend. These claims, including the under-collateralized portion of secured claims notentitled to priority, total $ 203,125.00 .Section 3. Executory Contracts And Unexpired Leases3.01.Debtor assumes the executory contracts and unexpired leases listed below. Debtor shall pay directly tothe other party to the executory contract or unexpired lease, before and after confirmation, all post-petition payments.Unless a different treatment is required by 11 U.S.C. § 365(b)(1) and is set out in the Additional Provisions, pre-petitionarrears shall be paid in full. The monthly dividend payable on account of those arrears is specified in the table below.3.02.Any executory contract or unexpired lease not listed in the table below is rejected. Upon confirmation ofthe plan, all bankruptcy stays are modified to allow the nondebtor party to an unexpired lease to obtain possession ofleased property, to dispose of it under applicable law, and to exercise its rights against any nondebtor in the event of adefault under applicable law or contract.Name of Other Party toExecutory Contract/Unexpired LeaseRegular PaymentPre-petition ArrearsArrearage Dividend-NONE-Total $0.00Section 4. Payment of Claims and Order of Payment4.01.After confirmation, payments to holders of allowed claims and approved expenses will be made monthly.4.02.Distribution of plan payment. Debtor’s monthly plan payment must total: (a) Trustee’s fees; (b)post-petition payments due on Class 1 claims; (c) the monthly dividend specified in section 2.07 for administrativeexpenses; and (d) the monthly dividends payable on account of Class 1 arrearage claims, Class 2 claims and executorycontract and unexpired lease arrearage claims. To the extent plan payments are not needed to pay the foregoingdividends, they shall be paid pro rata, first to Class 5 priority claims, second to Class 6 unsecured claims, and third toEDC 3-080 (effective 5/1/12)Page 4 of 6Software Copyright (c) 1996-2012 CCH INCORPORATED - www.bestcase.comBest Case BankruptcyCase 13-27992 Filed 06/27/13 Doc 11

Class 7 unsecured claims. Over the plan’s duration, these distributions must equal the total dividends required by sections2.05, 2.07, 2.08, 2.09, 2.13, 2.14, and 2.15.4.03.Priority of payment among administrative expenses. The portion of the monthly plan paymentallocated in section 2.07 for administrative expenses, shall be distributed first to any former chapter 7 trustee up to themonthly amount required by section 1326(b)(3)B), and second to holders of approved administrative expenses on a prorata basis.Section 5. Miscellaneous Provisions5.01.Vesting of property. Any property of the estate [choose one] shall shall not revest in Debtor uponconfirmation of the plan. In the event the case is converted to a case under Chapter 7, 11, or 12 of the Bankruptcy Code oris dismissed, the property of the estate shall be determined in accordance with applicable law.5.02.Debtor's duties. In addition to the duties imposed upon Debtor by the Bankruptcy Code, the BankruptcyRules, and applicable nonbankruptcy law, the court’s Local Bankruptcy Rules impose additional duties on Debtor, includingwithout limitation, obtaining prior court authorization prior to transferring property or incurring additional debt, maintaininginsurance, providing Trustee copies of tax returns, W-2 forms, 1099 forms, and quarterly financial information regardingDebtor’s business or financial affairs, and providing Trustee not later than the 14 days after the filing of the case with theDomestic Support Obligation Checklist for each domestic support obligation and a Class 1 Worksheet and Authorization toRelease Information for each Class 1 claim.5.03. Remedies upon default. If Debtor defaults under this plan, or if the plan will not be completed within sixmonths of its stated term, not to exceed 60 months, Trustee or any other party in interest may request appropriate relief byfiling a motion and setting it for hearing pursuant to Local Bankruptcy Rule 9014-1. This relief may consist of, withoutlimitation, dismissal of the case, conversion of the case to chapter 7, or relief from the automatic stay to pursue rightsagainst collateral. If the court terminates the automatic stay to permit a Class 1 or 2 secured claim holder to proceedagainst its collateral, unless the court orders otherwise, Trustee shall make no further payments on account of suchsecured claim and any portion of such secured claim not previously satisfied under this plan shall be satisfied as a Class 3claim. Any deficiency remaining after the creditor’s disposition of its collateral shall be satisfied as a Class 7 unsecuredclaim subject to the timely filing of a proof of claim.Section 6. Additional ProvisionsThis plan is the court’s standard plan form. Other than to insert text into designated spaces, expand tables toinclude additional claims, or change the title to indicate the date of the plan or that the plan is a modified plan, thepreprinted text of this form has not been altered. In the event there is an alteration, it will be given no effect. The signaturesbelow are certifications that the standard plan form has not been altered.Despite the foregoing, as long as consistent with the Bankruptcy Code, Debtor may propose additional provisionsthat modify the preprinted text. All additional provisions shall be on a separate piece of paper appended at the end of thisplan. Each additional provision shall be identified by a section number beginning with section 6.01and indicate whichsection(s) of the standard plan form have been modified.Additional Provisions [choose one] are are not appended to this plan.(Signature Page)Dated: June 27, 2013/s/ Susan Louise Magliano-BassoffSusan Louise Magliano-BassoffDebtorJoint debtorEDC 3-080 (effective 5/1/12)Page 5 of 6Software Copyright (c) 1996-2012 CCH INCORPORATED - www.bestcase.comBest Case BankruptcyCase 13-27992 Filed 06/27/13 Doc 11

Dated: June 27, 2013/s/ Stephen MurphyStephen MurphyDebtor's AttorneyEDC 3-080 (effective 5/1/12)Page 6 of 6Software Copyright (c) 1996-2012 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy