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LAWDOG BANKRUPTCY: CHAPTER 12


MORE DETAIL: Chapter 12 Plan
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11 U.S.C. Section 1221
Filing of plan

The debtor shall file a plan not later than 90 days after the order for relief under this chapter, except that the court may extend such period if the need for an extension is attributable to circumstances for which the debtor should not justly be held accountable.

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11 U.S.C. Section 1222
Contents of plan

(a) The plan shall -

(b) Subject to subsections (a) and (c) of this section, the plan may -

(c) Except as provided in subsections (b)(5) and (b)(9), the plan may not provide for payments over a period that is longer than three years unless the court for cause approves a longer period, but the court may not approve a period that is longer than five years.

(d) Notwithstanding subsection (b)(2) of this section and sections 506(b) and 1225(a)(5) of this title, if it is proposed in a plan to cure a default, the amount necessary to cure the default, shall be determined in accordance with the underlying agreement and applicable nonbankruptcy law.

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