You're viewing Docket Item 13 from the case Marilyn Fessler. View the full docket and case details.

Download this document:

11-53376-swr Doc 13 Filed 05/24/11 Entered 05/24/11 17:01:25 Page 1 of 6

FOR COURT USE ONLYUNITED STATES BANKRUPTCY COURTFOR THE EASTERN DISTRICT OF MICHIGANSOUTHERN DIVISION -DETROITIN THE MATTER OF:Marilyn FesslerS.S.# xxx-xx-6265andCASE NO.11-53376S.S.#Debtor(s)CHAPTER 13__________________________________/CHAPTER 13 PLAN[X ] OriginalOR[ ] Modification#[ ] pre-confirmationOR [ ] post-confirmationI.PLAN PAYMENTS & DISBURSEMENTSThis is the debtor's(s') latest Chapter 13 Plan. The following Classes of claims are established for payment from fundsavailable by the Trustee except those identified as "direct payments" as indicated herein.A.The debtor shall make payments in the amount of$5,833.00 Monthly in month1, then$24.80 Monthly for months 2through 36.B.Plan length: 36 months, commencing on the date of entry of the Order Confirming Plan, which shall also be theeffective date of the Plan. The Trustee is hereby authorized to automatically adjust the Plan length an additional six(6) months to accomplish the purposes of this Plan, but in no event shall this Plan last more than five years.C.Debtor commits 100% of all tax refunds received or entitled to after commencement of the case, and shall not alterany withholding deductions/exemptions without Court approval.D.Treatment of claims1.Class One - Administrative Expensesa.Trustee feesas determined by statute.b.Attorney fees and costs:Subject to 11 U.S.C. 1326(a)(2), Attorney Fees are to be determined byfee application. Applicant has received a retainer of $400.00 and the Trustee is to hold fromdistribution an additional amount of $2,500.00 from payments pursuant to this Plan to be appliedtoApplicant's fees on order of the Court. Applicant shall file its first fee application within thirtydays following the entry of the Order Confirming Plan. If no application has been served andfiled within the 30 day period, the reserved funds will be released for distribution to creditors.c.Other:2.Class Two - Continuing Claims: Those secured claims on which the last payment is due beyond the lengthof the Plan [11 U.S.C. §1322(b)(5)]. To the extent such claims are non-modifiable pursuant to 11 U.S.C. §1322(b)(2), the Trustee shall adjust the monthly payment to such creditors upon compliance by the creditorwith L.B.R. 3015-1(a)(9)(E.D.M.) and the debtor shall increase Plan payments as needed for suchcompliance.a.Post-ConfirmationCreditor/CollateralMonthly PaymentsWestacres Credit UnionSavings Acount XXXX2714Westacres Credit Union0.00*Direct by Debtor'sCompany*Westacres Credit UnionSavings Acount XXXX2714Westacres Credit Union0.00*Direct by Debtor'sCompany*Model Plan Version 2.0 - 05/011Software Copyright (c) 1996-2011 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy11-53376-swr Doc 13 Filed 05/24/11 Entered 05/24/11 17:01:25 Page 2 of 6

b.Post-Petition/Pre-Confirmation Arrears- (TO BE PAID IN FIRST 12 MONTHS):Creditor/CollateralArrears AmountInterest RateEstimatedMonthly PaymentTime to Cure-NONE-3.Class Three - Executory Contracts and/or Unexpired Leases [11 U.S.C. §1322(b)(7) and 11 U.S.C. §365]a.Continuing, Post-Petition Obligations:Creditor/CollateralAssume/Reject/Assign?If assumed,regular paymentper monthLease/Contractexpiration date-NONE-b.Pre-Petition Obligations:Creditor/CollateralIf assumed,amount ofDefaultIf assumed,number of monthsto cure fromconfirmation date+ interest rateIf assumed,monthly paymenton cure-NONE-4.Class Four - Arrearage on Continuing Claims [11 U.S.C. §1322(b)(5)]Pre-Petition Arrears:Creditor/CollateralArrears AmountInterest RateEstimatedMonthly PaymentNumber of months to curefrom confirmation date-NONE-5.Class Five - Other Secured Claims: Secured claims other than those listed in Classes Two and Four onwhich the last payment will become due within the Plan duration.Creditor/Collateral"Crammed down"[11 U.S.C. 1325(a)(5)]or modified[11 U.S.C. 1322(b)(2)]Indicate WhichMarketValueInterestRateMonthlyPayment(Incl.Interest)Total to Pay(Incl.Interest)Number ofmonths fromconfirmationdate-NONE-6.Class Six - Priority Unsecured Claims [11 U.S.C. §1322(a)(2)]CreditorAmountInterest Rate-NONE-7.Class Seven - Special Unsecured Claims shall be paid in full and concurrently with Class Eight GeneralUnsecured Claims.CreditorAmountInterestRateReason for Special Treatment-NONE-Model Plan Version 2.0 - 05/012Software Copyright (c) 1996-2011 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy11-53376-swr Doc 13 Filed 05/24/11 Entered 05/24/11 17:01:25 Page 3 of 6

8.Class Eight - General Unsecured Claims shall be paid 2.6% of such amounts with interest at the rate of 0.00% per annum. This Plan shall provide either the percent stated or shall continue for the length stated,whichever will offer the greater dividend to general unsecured creditors in this class.9.Other Provisions: Insert as necessaryII.GENERAL PROVISIONSA.THIS PLAN FOLLOWS THE TRUSTEE'S PLAN IN ALL RESPECTS, WITH THE EXCEPTION OF:B.VESTING, POSSESSION OF ESTATE PROPERTY AND LIEN RETENTION: Upon confirmation of thePlan, all property of the estate shall vest in the debtor [11 U.S.C. §1327(b)]. The debtor shall remain in possessionof all property of the estate during the pendency of this case unless specifically provided herein [11 U.S.C.§1306(b)]. All secured creditors shall retain the liens securing their claims unless otherwise stated.C.SURRENDER OR ABANDONMENT OF COLLATERAL: Upon confirmation the automatic stay is lifted as toany collateral treated as surrendered or abandoned.D.PROHIBITION AGAINST INCURRING POST-PETITION DEBT: While this case is pending, the debtor shallnot incur a debt in excess of $1,000.00 without first obtaining approval from the Court.E.UNSCHEDULED CREDITORS FILING CLAIMS: If a pre- or post-petition creditor is not listed in the Chapter13 Schedules, but files a proof of claim, the Trustee is authorized to classify the claim into one of the existing classesunder this Plan and to schedule the claim for payment within that class.F.PROOFS OF CLAIMS FILED AT VARIANCE WITH THE PLAN: In the event that a creditor files a proof ofclaim that is at variance with the provisions of this Plan, the following method is to be employed to resolve theconflict:1.Regarding claims for which the Plan does not propose a "cramdown" or modification, the proof of claimshall supersede the Plan as to the claim amount, percentage rate of interest, monthly payments, classificationof the claim, percentage of interest on arrears, if any, but the proof of claim shall not govern as to thevaluation of collateral.2.As to claims for which the Plan proposes a "cramdown" or modification, the proof of claim governs only asto the claim amount, but not with respect to any of the other aforementioned contractual terms.3.If a holder of a claim files a proof of claim at variance with this Plan or related schedules, the Trustee shallautomatically treat that claim as the holder indicated, unless provided otherwise by order of the Court.4.A proof of claim or interest shall be deemed filed under 11 U.S.C. §501 for any claim or interest thatappears in Classes Two, Three, Four or Five of this plan, except a claim or interest that is disputed,contingent or non-liquidated and labeled as such in this plan.NOTE: Debtor reserves the right to object to any claim.G.TAX RETURNS AND TAX SET-OFFS: All tax returns which have become due prior to the filing of this Planhave been filed except the following (see L.B.R. 2083-1(E.D.M.) regarding non-filed returns):-NONE-H.DEBTOR ENGAGED IN BUSINESS: [X ] If the box to the immediate left is "checked", the debtor isself-employedAND incurs trade credit in the production of income from such employment.1.11 U.S.C. §1304(b) and (c) regarding operation of the business and duties imposed upon the debtor areincorporated herein by reference.2.The debtor shall comply with the provisions of L.B.R. 3015-1(a)(8) and 2003-2(a)(b) (E.D.M.) unless theCourt orders otherwise.Model Plan Version 2.0 - 05/013Software Copyright (c) 1996-2011 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy11-53376-swr Doc 13 Filed 05/24/11 Entered 05/24/11 17:01:25 Page 4 of 6

I.ORDER OF PAYMENT OF CLAIMS: Class One claims shall be paid in advance of others, then Classes Twoand Three in advance of all remaining classes, then Classes Four and Five, then Class Six, and then Classes Sevenand Eight shall be paid as stated in each respective section. [LBR 3015-1(a)(5) (E.D.M.)]J.WORKSHEET: The worksheet on a form available from the clerk's office, is required by L.B.R. 3015-1(b)(2)(E.D.M.). It is attached hereto and incorporated herein by reference.K.CONFLICT OF DEBT AMORTIZATION: If the amortization figures conflict with respect to those stated inClass 2b, Class 3, Classes 4 Class 5, the time to cure shall be paramount, and the Trustee shall make alterations toimplement this statement.L.DEBTOR DUTY TO MAINTAIN INSURANCE: Debtor shall maintain all insurance required by law and contractupon property of the estate and the debtor's property. After confirmation of this Plan, if the debtor fails to maintainfull coverage collateral protection insurance as required above, any party in interest may submit an affidavit ofdefault and in the event that the default is not cured within ten (10) days from the date of service of the affidavit uponthe debtor, debtor's counsel and the Trustee, said party may submit an Order Granting Relief from the AutomaticStay as to the collateral to the Court along with a further affidavit attesting to the debtor's failure to cure. Said Ordershall be granted without motion or hearing.M.ENTRY OF ORDERS LIFTING STAY: Upon entry of Order Lifting Stay, no distributions shall be made to thesecured creditor until such time as an amended claim is filed by such creditor.Model Plan Version 2.0 - 05/014Software Copyright (c) 1996-2011 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy11-53376-swr Doc 13 Filed 05/24/11 Entered 05/24/11 17:01:25 Page 5 of 6

N.LIQUIDATION ANALYSIS AND STATEMENT OF VALUE OF ENCUMBERED PROPERTY [LBR 3015-1(b)(1)]:TYPE OF PROPERTYFAIR MARKETVALUELIENSDEBTOR'SSHARE OFEQUITYEXEMPTAMOUNTNON-EXEMPTAMOUNTPERSONAL RESIDENCE0.,000.000.0015,000.0013,179.141,820.86HHG/PERSONAL EFFECTS3,500.000.003,500.003,400.00100.00JEWELRY100.000.00100.00100.000.00CASH/BANK ACCOUNTS36,052.7040,634.19240.590.00240.59OTHER10,413.860.0010,413.864,530.865,883.00Amount available upon liquidation$8,044.45Less administrative expenses and costs$4,000.00Less priority claims$0.00Amount Available in Chapter 7$4,044.45/s/ Erika D. Hart/s/ Marilyn FesslerErika D. Hart P67457Marilyn FesslerAttorney for DebtorDebtorCharles J. Taunt & Associates, PLLC700 East Maple RoadSecond FloorBirmingham, MI 48009Joint Debtor248-644-7800Fax:248-647-5902May 24, 2011Phone NumberDateModel Plan Version 2.0 - 05/015Software Copyright (c) 1996-2011 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy11-53376-swr Doc 13 Filed 05/24/11 Entered 05/24/11 17:01:25 Page 6 of 6

WORKSHEET1.Length of Plan isweeks;36months;years.Debtor #1:2.$35.00per pay period x(Monthly )35pay periods per Plan =$1,225.00total per PlanDebtor #2:$per pay period x( )pay periods per Plan =$total per Plan3.$per period xperiods in Plan =4.Lump Sums:5,833.005.Equals total to be paid into the Plan7,058.006.Estimated trustee's fees500.007.Estimated Attorney fees and costs2,500.00 (estimated)8.Total priority claims0.009.Total installment mortgage orother long-term debt payments0.0010.Total of arrearageincluding interest0.0011.Total secured claims,including interest0.00Total of items 6 through 11$3,00012.Funds available for unsecured creditors (item 5 minus item 11)$4,058.0013.Total unsecured claims (if all file)$*156,236.0814.Estimated percentage to unsecured creditors under Plan (item 12 divided by item 13)2.6 %15.Estimated dividend to general unsecured creditors ifChapter 7, (see liquidation analysis attached)$4,044.45COMMENTS:*Debtor disputes that the total unsecured amount listed in line item 13 above is a reflection of the total debt as approximately$142,000 of debt listed as unsecured is disputed and contingent.Model Plan Version 2.0 - 05/016Software Copyright (c) 1996-2011 CCH INCORPORATED - www.bestcase.comBest Case Bankruptcy