"Virginia Chapter 13 Trustee"
All plans are subject to review by a Virginia bankruptcy trustee. The duties of the trustee include reviewing
cases for legal compliance, recommending confirmation, modification, conversion or dismissal, and accounting for
all proceeds received from the plan.
| 11 U.S.C. §1302(a): "If the United States trustee appoints an individual under section
586(b) of title 28 to serve as standing trustee in cases under this chapter and if such individual qualifies under section
322 of this title, then such individual shall serve as trustee in the case. Otherwise, the United States trustee
shall appoint one disinterested person to serve as trustee in the case or the United States trustee may serve
as a trustee in the case." |
On March 5, 2004 the Virginia Bankruptcy Courts adopted newly adjusted dollar amounts which apply throughout
the Code. The changes became effective April1, 2004. The adjusted amounts affect the values throughout carious
Code sections, including the eligibility requirement for debtors who file Chapter 13, the value of claims which
the Code treats as a priority claim, the amount of creditor claims need to instigate an involuntary petition,
and the amount of luxury goods and services which may be considered nondischargeable if acquired within 30 days
of filing. These changes to Virginia bankruptcy law were based on the Consumer Price Index published by the US
Dept. of Labor, and increase values to reflect rising prices. These changes became mandatory every three years
beginning in 1994.
Back to Virginia Bankruptcy Court words & phrases.
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