§1323 — Title 11 Bankruptcy | U.S. Code

Summary

The person who filed the repayment plan can change it any time before the court approves it, but the changed plan must still follow the rules in section 1322. Once the filer formally files the change, the new plan replaces the old one. A creditor with a secured claim (someone who lent money and holds collateral) who already accepted or rejected the plan is treated the same about the changed plan unless the change alters that creditor’s rights; if their rights do change, they may change their earlier acceptance or rejection.

Title 11, §1323

Bankruptcy — Source: USLM XML via OLRC

(a)The debtor may modify the plan at any time before confirmation, but may not modify the plan so that the plan as modified fails to meet the requirements of section 1322 of this title.

(b)After the debtor files a modification under this section, the plan as modified becomes the plan.

(c)Any holder of a secured claim that has accepted or rejected the plan is deemed to have accepted or rejected, as the case may be, the plan as modified, unless the modification provides for a change in the rights of such holder from what such rights were under the plan before modification, and such holder changes such holder’s previous acceptance or rejection.

Notes & Related Subsidiaries

Historical and Revision Notes

senate report no. 95–989

The debtor is permitted to modify the plan before confirmation without court approval so long as the modified plan, which becomes the plan on filing, complies with the requirements of section 1322. The original acceptance or rejection of a plan by the holder of a secured claim remains binding unless the modified plan changes the rights of the holder and the holder withdraws or alters its earlier acceptance or rejection.

§1323 Modification of Plan Before Confirmation

Summary

Title 11, §1323

Notes & Related Subsidiaries

Historical and Revision Notes

senate report no. 95–989

Citations & Metadata