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
By Filed Under: Bankruptcy Practice
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
By Filed Under: Bankruptcy Practice
Presentation November 2017 NCLC Consumer Litigation Conference 1 NCLC PACE Presentation final
Win Now, Wreck Later: A Tale of Bankruptcy and Mortgage Servicing
By Filed Under: Bankruptcy Practice
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
By Filed Under: Bankruptcy Practice
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. […]
Cars & Bankruptcy: What You Must Know To Get It Right
By Filed Under: Bankruptcy Practice
It’s time for a summary and refresher on dealing with car loans in bankruptcy. Somehow, my staff hit a wall this week on what information we needed about cars and car loans. Then, we stumbled on what to do with that information. So, here’s my roadmap to cars in bankruptcy. Fasten your seat belt: here we […]
Crushing Tax Change For Injured Consumers
By Filed Under: Bankruptcy Practice, Opinionated, Tax
Under the new tax law, most damage awards a consumer recovers stand to go, in large part, to the IRS. So even if you are successful in vindicating your legal rights, the expenses of getting the award aren’t deductible from the gross award. The taxing authorities end up getting a large hunk of […]
