Clouds of uncertainty have hovered over Chapter 13 debtors who find that they need to sell appreciated property before the case is over. Does appreciation occurring after filing go to creditors on the theory that the appreciation is property of the estate? Or does the vesting of property at confirmation entitle the debtor to any […]
First Principles For First Meetings
Once again, I sat in a 341 meeting where the trustee purported to deliver vital information to the assembled debtors. She had a captive audience of anxious listeners. She had ostensible power of life and death over their financial future. They needed to know what she had to say. But as communication, it failed. Badly. […]
PACE Loans- New Subprime Debts
Presentation November 2017 NCLC Consumer Litigation Conference 1 NCLC PACE Presentation final
Win Now, Wreck Later: A Tale of Bankruptcy and Mortgage Servicing
My Google Alert popped up a lovely win for a Chapter 13 homeowner , but all I could see was the train wreck that lies ahead. The bankruptcy court ruled that the confirmed (and completed) plan trumped a late-filed mortgage proof of claim. Payment of the amount provided in the plan cured the prepetition arrearage. […]
Secrets To Home Loans For Chapter 13 Debtors
Every bankruptcy debtor yearns to rebuild their credit. Whatever drove them to bankruptcy did no favors to their creditworthiness. The need for a new loan can be imperative to a homeowner in Chapter 13 who needs a better interest rate, a recomputed loan term, or just needs out of Chapter 13 with a discharge. Here’s […]
Filing Bankruptcy Petitions: Playing Connect the Dots
I almost took the client at her word and filed schedules that told half the story. Well, maybe it was 3/4 of the story, but the client who, to my consternation, seemed to enjoy nit picking the draft schedules, told me about the cabin on the lake that they rent out, but omitted from the […]
Find Solution That Works, Bankruptcy or No
Good income, substantial priority tax debt, other debt within the limits: sounds like a Chapter 13 bankruptcy, doesn’t it? Yet the clients were in my office for a second opinion, convinced they couldn’t sustain over five years the payments their attorney provided in their Chapter 13 plan. Their attorney’s approach reminded me of the Greek […]
