"Colorado Chapter 13 Confirmation"
Before a Colorado bankruptcy plan of reorganization becomes effective, the court must approve, or "confirm" the
plan after notice and hearing. Absent confirmation, cases are either dismissed or converted to Chapter 7.
| 11 U.S.C. §1325(a) provides, in part, "Except as provided in subsection (b), the court
shall confirm a plan if - (1) The plan complies with the provisions of this chapter and with the other
applicable provisions of this title; (2) any fee, charge, or amount required under chapter 123 of title 28,
or by the plan, to be paid before confirmation, has been paid; (3) the plan has been proposed in good faith
and not by any means forbidden by law; (4) the value, as of the effective date of the plan, of property to
be distributed under the plan on account of each allowed unsecured claim is not less than the amount that
would be paid on such claim if the estate of the debtor were liquidated under chapter 7 of this title on
such date." A majority of the secured creditors in a Colorado bankruptcy proceeding under Chapter 13 must
also approve the plan. |
NOTE: Spanish language forms and information may be obtained from a various websites, including the United
State Department of Justice, Administrative Office of the U.S. Courts, and other US Court sites. Regarding these
forms, the Colorado Bankruptcy Court advises "While we have no reason to believe that these Spanish language
forms or information have been translated inaccurately, only the English language forms are officially
prescribed by the Judicial Conference of the United States Courts. Accordingly, the Court for the District of
Colorado can not guarantee the accuracy or sufficiency of information contained in Spanish language forms or
informational documents." The Colorado Bankruptcy Court also maintains a pro bono program to assist qualified
debtors with adversary proceedings (not available to file petitions to initiate Ch. 7 or 13 cases).
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