If you find any of the provisions of the proposed confirmation plan unacceptable, your attorney must file an objection of confirmation with the Court PRIOR to the confirmation hearing. You, may also have grounds for filing an objection if the borrower has failed to keep current with the regular mortgage payments that were due following the bankruptcy filing.
PROPOSING YOUR OWN REPAYMENT PLAN
In a chapter 11 Bankruptcy filing, as I mentioned before, only the borrower may file a proposed repayment plan with the Court, WITHIN the FIRST 120 days. After that, you, (and all the other creditors), may file a proposed repayment plan for the Court to consider. When you reeive notice of a Chapter 11 Bankruptcy, CONSULT YOUR ATTORNEY PROMPTLY, so you don't miss the opportunity to propose your own repayment plan.
Luigi Mario FRASCINI
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Luigi M. Frascini
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