Another Tip From Aki Koyama

Practice tip “Real Property and Adequate Protection Payments”: If you are cramming down real property and wish to offer adequate protection payments to the mortgage lender to head off a motion for relief from stay, please do not use the adequate protection payment section in Section I(D) of the mandatory plan form.  This section is reserved solely for adequate protection payments pursuant to Section 1326(a)(1)(B) and (C) e.g. car creditors.  If you wish to have the Trustee disburse adequate protection payments to a mortgage lender, please provide NOTICE of the intent to enter into a stipulation immediately under Class 3 of the plan and file a separate stipulation with the court.

Aki Koyama

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