By Academy Staff
Rules 3012 and 3015.1 and the new National Form Plan (and its Local form progeny) introduced a number of new powers that Debtors can exercise through the Plan. Debtors can value secured claims and strip liens under § 506; determine the amount of priority claims (other than claims owed to governmental units); and avoid liens that impair exemptions under § 522 - all without filing Adversary Proceedings or separate Motions and without separate hearings absent creditor objections.
But with great power, comes great responsibility. The affected creditor must be “served” with a copy of the Plan. Service . . .
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