Got a Trustees objection to confirmation letter

[southernma82]

Got this in the mail today. Just when I thought things were smooth sailing.

The 1st thing is taking our payments from $810 a month to $873. Not a big deal, I can handle that part.

2. The plan does not comply with 1132(a)(3). Which when I look it up means (a)Notwithstanding any otherwise applicable nonbankruptcy law, a plan shall—
(3) specify the treatment of any class of claims or interests that is impaired under the plan. In this paragraph from the trustees office it states that our plan does not properly address the secured clain filed by Americredit in the amount $$$$$ with intrest rate of %%%%. The debtors failed to object to said secured claim, the result of which is to unnecessarily reduce the dividend to unsecured creditors.

3. Then it is the same thing as #2 but with our Navy Federal Credit Union secured credit card.

4. The plan does not adequately identify the month in which fixed monthly payments are to commence. (I have no idea what this mean.)

5. My husbands social security card was not legible. (Funny thing about this is we had it with us at the 341 meeting and they said it was fine.)

6. The proposed fixed monthly payments provided for on the debtors plan fail to amortize the secured claims during the term of the plan.

So now we have to file an amended plan 14 days before the confirmation hearing. The paper we received a few weeks back states our confirmation hearing is September 8, 2016. Thats less than 14 days unless the date has been moved.

If someone can help me figure out what this means that would be awesome. I plan on calling our lawyer in the morning just to see what is going on.

[justbroke]

Trustees have some standard objections and yours are pretty much standard. Some of the language is regarding how you treat a mortgage (#2) and that you either didn't show that you were surrendering the property or you didn't list it properly as secured debt with an interest rate. The Trustee will sometimes complain about adjustable rate mortgages and want that language in the plan. As for #3... that seems like a mistake unless the secured card is secured by your residence. #4 is really about when should the plan pay the secured debt (typically they start with Month 1 of the plan). #6 just tells me that #2 and #3 may be messing with the amounts and that's why they don't think the plan is feasible.

These are things that your attorney handles. Trustees are sometimes actually wrong with some of this language, but they must object to things they either don't understand or that are actually wrong.

Relax. Your attorney has this!

[southernma82]

Trustees have some standard objections and yours are pretty much standard. Some of the language is regarding how you treat a mortgage (#2) and that you either didn't show that you were surrendering the property or you didn't list it properly as secured debt with an interest rate. The Trustee will sometimes complain about adjustable rate mortgages and want that language in the plan. As for #3... that seems like a mistake unless the secured card is secured by your residence. #4 is really about when should the plan pay the secured debt (typically they start with Month 1 of the plan). #6 just tells me that #2 and #3 may be messing with the amounts and that's why they don't think the plan is feasible.

These are things that your attorney handles. Trustees are sometimes actually wrong with some of this language, but they must object to things they either don't understand or that are actually wrong.

Relax. Your attorney has this!

Ok. It sounds normal so thats good. I was worried. I guess I don't need to worry. Thats why I have a lawyer.