In a non-small business case the debtor may file a plan along with the petition or at any time File A Bankruptcy Plan. The Bankruptcy Code does not provide a deadline for the plan filing. See §1121. In a small business case the plan must be filed within 300 days of the petition filing date. In a non-small business case debtor is the only one who can File A Bankruptcy Plan within 120 days from the petition filing date. This period may not be extended beyond a date that is 18 months after the petition filing date. This is called the period of exclusivity. In a small business case the period of exclusivity is 180 days from the petition filing date. In a small business case the plan must be confirmed within 45 days after it is filed. In a non-small business case the plan must be confirmed within 180 days after it is filed. This period may not be extended to a date that is more than 20 months after the petition filing date.
These time periods can only be extended if the debtor, after providing notice to parties in interest, demonstrates that it is more likely than not that the plan will be confirmed and further, the order extending the time period is entered before the applicable time period has expired.
For help with the process from start to finish, contact on of the best Local Bankruptcy Attorneys Wilkes-Barre bankruptcy lawyer C. Stephen Gurdin. He can help you with everything, from determining which kind of bankruptcy is best for you, to filing properly, to reorganizing your debts and helping you come up with a better re-payment plan, to rebuilding your credit, he has the experience and skill to help you start your financial life over.
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