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Pedro successfully petitions for a Chapter 1 3 consumer reorganization, and his plan is approved by the court over the objection of the creditors who
Pedro successfully petitions for a Chapter consumer reorganization, and his plan is approved by the court over the objection of the creditors who do not think that Pedro will make the payments as agreed. The creditors are right, and within six months, Pedro has missed multiple payments. Which of the following statements is true?
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The creditors can file an involuntary petition under Chapter to collect the debts.
Only the trustee, and not the creditors, can request modification of the plan.
Pedro has committed a felony and is subject to imprisonment.
The creditors must petition the court to modify the plan to include higher payments.
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