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September 17, 2018
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Archives |
Section 522(f) Avoidance of Liens on Co-Owned Property
In an August decision, the Tenth Circuit held that, when avoiding liens under § 522(f), and when the debtor owns only a partial interest in exempt property, you start with that interest and allocate senior liens proportionately. This is now the majority view at the circuit level.This week, Larry Ahern reviews how the calculation works and describes the Tenth Circuit’s decision.
Is There a Light in the Farm Economy?
- Mark your calendar now for the Chapter 12 Conference July 15 and 16, 2019 in Indianapolis
Judge Issues
- Third Circuit Begins Search for Temp Judges on Del. Bankruptcy Court – The U.S. Court of Appeals for the Third Circuit has begun its search for two temporary bankruptcy judges in Delaware, nearly 10 months after Congress passed legislation to provide reinforcement for one of the busiest bankruptcy courts in the nation.
For the Academic Set
U.S. Banking De-Regulation, Financial Engineering, and Bankruptcy Reform: How Banks Took Control over Consumer Insolvency Law
New from the author of Credit Card Nation a review of the legislative history of banking deregulation and bankruptcy reform. It provides a brief explanation of financial engineering, and compares the stringent effects of BAPCPA for consumers with the generosity offered to those financial services firms that created the crisis.
From the Courts
Proposed Amendments Published for Public Comment
- Bankruptcy Rules 2002, 2004, 8012
- Comment period closes February 15, 2019
From the TN Courts
Tennessee Local Rule Amendments Up for Comment
From the Courts
- Bankruptcy Court Miscellaneous Fee Schedule Effective September 1st
- BAPCPA Report – 2017 Report of Statistics Required by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
From the IRS
IRS Urges Taxpayers to Prepare for Natural Disasters
“Check on fiduciary bonds – Employers who use payroll service providers should ask the provider if it has a fiduciary bond in place. The bond could protect the employer in the event of default by the payroll service provider.”
From Our Friends at Credit Slips
From the National Consumer Bankruptcy Rights Center
- Court Puts Trustee Fees Under the Microscope (Chpt 7 case)
NACTT Miami Conference Recordings
Your Choice of DVDs or Audio CDs
$150.00 – Order TODAY Ships TODAY
Couldn’t attend the NACTT 2018 Conference – Order this fabulous resource NOW!
Please Let Us Know . . .
- if your email address changes
- if you change law firms
- if you suddenly stop getting the weekly emails
- if you are a trustee and you have changes in your staff attorneys
For Your Blog
Retirees: Avoid Surprise Tax Bill Do Paycheck Checkup ASAP
“Because of this law change, retirees who receive a monthly pension or annuity check may need to raise or lower the amount of tax they pay in during the year.”
Sanctions and Irony and Fraud, Oh My!
- A Year Later, Equifax Lost Your Data but Faced Little Fallout – Equifax is financially stable and legally in the clear, but lawmakers aren’t backing down.
In Case You Missed It . . .
Critical Case Comment
A debt obligation for a penalty resulting from fraud can be both a debt under § 523(a)(2) and § 523(a)(7) and the obligation is excepted from discharge in a Chapter 13 case.
MORTGAGE MATTERS (Not password protected)
Article: New Home Sales Hit 9 Month Low
FreddieMac: Mortgage Rates Creeping Up
CoreLogic: Home Prices Rising at Reduced Rate
OF INTEREST (Not password protected)
8th Circuit BAP Rules Bad Faith Not Grounds to Deny Amended Exemption of Assets Disclosed Post-Petition (Chpt 7 case)
Montana Had Highest Suicide Rate in the Country: Then Budget Cuts Hit – Suicide has been a persistent problem in Montana — and it’s getting worse. Now, some who have lost loved ones are mobilizing to stop the deaths.
Interesting Chapter 11 case . . . Who Gets to Keep the Money: Sometimes Procedural Arguments Can Matter as Much as Substantive Arguments
Bankruptcy Claims Trading . . . the first empirical study of trading in the financial claims of Chapter 11 debtors to learn more about how claims trading impacts the average Chapter 11 case
JoCo Man Bought a Bank Upon ‘Revelation From God’ – Now $30M in debt, he’s bankrupt
DEBT AND THE ECONOMY (Not password protected)
MILITARY MATTERS (Not password protected)
Watchdog Report: VA benefits backlog is higher than officials say
FOR YOUR HEALTH (Not password protected)
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September 10, 2018
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Archives |
Critical Case Comment
A debt obligation for a penalty resulting from fraud can be both a debt under § 523(a)(2) and § 523(a)(7) and the obligation is excepted from discharge in a Chapter 13 case.
Factoring in Valuation – Consumer Cases that Impact Business Cases
Practitioners should be aware of important consumer decisions that may influence lower courts in the business context and commercial case decisions which may influence consumer cases.
Supreme Court Fellows Set to Begin New Term
- Two of four Fellows are from the bankruptcy world
- Congratulations Ms. Willie and Ms. Jones
From the Courts
- Bankruptcy Court Miscellaneous Fee Schedule Effective September 1st
- BAPCPA Report – 2017 Report of Statistics Required by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
Bankruptcy is Often a Gambler’s Only Sure Bet
“ . . . gamblers may actually have some luck on their side if they take advantage of current bankruptcy laws.” (Chapter 7 related article)
Federal Judges Mourn Passing of Retired Bankruptcy
Federal judges in the Pacific Northwest and beyond are mourning the passing of retired Bankruptcy Judge Thomas T. Glover of the United States Bankruptcy Court for the Western District of Washington.Click here for Obituary
From Our Friends at Credit Slips
From the National Consumer Bankruptcy Rights Center
Attention EVERYONE
NACTT Miami Conference
Complete Audio Only Recordings NOW Available in Downloadable Format
DISCOUNTED PRICE OF $129.99
Sanctions and Irony and Fraud, Oh My!
MORTGAGE MATTERS (Not password protected)
What’s the Frequency: Keeping Up with Tax Installment Changes – If a mortgage servicer knows that property taxes in a particular state or region are always due at the same time, forecasting workload volume and staffing needs can be more easily predicted . . . a few of the interesting changes and requirements of some of the jurisdictions around the country.
MBA Report: Profits Up In 1st Qtr
FreddieMac Forecast: Home Sales Slowing
OF INTEREST (Not password protected)
Are Our Days as Lawyers Numbered? Yes, robots/AI are changing the landscape of the legal world. But will they one day take over completely?
DEBT AND THE ECONOMY (Not password protected)
FOR YOUR HEALTH (Not password protected)
Texas Teacher Thought He Had Great Health Insurance – Now he’s stuck with a $109,000 ER bill.
Know what to do if this happens to you or your client:
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September 3, 2018
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Archives |
Due to the Labor Day Holiday,
The Academy Offers An Abbreviated Update
UpRight Not Right in East Tennessee
Law Solutions Chicago, LLC d/b/a Upright Law has once again been sanctioned. This time in the Eastern District of Tennessee by settlement agreement with the United States Trustee, Chapter 13 Trustee, Gwendolyn Kerney, and Chapter 7 Trustee, Jerrold Farinash.
From the National Consumer Bankruptcy Rights Center
Attention EVERYONE
NACTT Miami Conference
Complete Audio Only Recordings NOW Available in Downloadable Format
DISCOUNTED PRICE OF $129.99
(Audio CD and Video DVDs are also available for mailing at $150/per set)
Forgive Us Our Debts
NACTT Miami speaker and Orlando attorney Anne-Marie Bowen, has just published an exciting new resource for you and your clients. Forgive Us Our Debts is a short, easy read primarily written for Christian debtors and/or potential debtors but as a debtor or creditor attorney, this book is also a resource for you into the mindset of those clients who, for religious reasons, struggle with allowing themselves a chance at a fresh financial start.
From the IRS
IRS to Introduce New Tax Transcript to Better Protect Taxpayer Data
The new transcript replaces the previous format and will be the default format available via Get Transcript Online, Get Transcript by Mail or the Transcript Delivery System for tax professionals as of September 23.Click here for more . . .
For Your Blog
Taxpayers Should Be Prepared for Natural Disasters
With hurricane season underway, it’s a good idea for taxpayers to think about what they can do to be prepared should a hurricane or other natural disaster strike where they live. Here are a few helpful tips for taxpayers to keep in mind.
In Case You Missed It . . .
Notice: Pitfalls and Perils of Rule 7004(h)
“Where the Plan proposes to strip or cram or avoid a lien held by an Insured Depository Institution, Rule 7004 contains much higher requirements for service.”See also: Don’t Skimp on Service When Your Client’s House Is on the Line
IN THE NEWS (Not password protected)
MORTGAGE MATTERS (Not password protected)
OF INTEREST (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
FOR YOUR HEALTH (Not password protected)
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August 27, 2018
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Archives |
Notice: Pitfalls and Perils of Rule 7004(h)
“Where the Plan proposes to strip or cram or avoid a lien held by an Insured Depository Institution, Rule 7004 contains much higher requirements for service.”
See also: Don’t Skimp on Service When Your Client’s House Is on the Line
Position Postings
Chapter 13 Standing Trustee
Location: Reading, PATerm Law Clerk to U.S. Bankruptcy Judge Arthur I. Harris
Location: Cleveland, Ohio
Location: Reading, PATerm Law Clerk to U.S. Bankruptcy Judge Arthur I. Harris
Location: Cleveland, Ohio
Are You Throwing Your Bankruptcy Client to the Predators?
Standard operating procedure for taxing authorities who are in discussion with a tax payer about a tax issue is to “request” that the taxpayer sign an extension of the period in which the taxes can be assessed. The alternative, the taxpayer is told, is an immediate assessment.
From Our Friends at Credit Slips
Attention Trustees/Office Managers
NACTT Miami – Staff Track DVDs Now Available
Order the four staff track sessions TODAY for ONLY $75
(Ships within 24 hours)Training Includes
(Ships within 24 hours)Training Includes
- Understanding Business Entities and the Self-Employed Debtor
- National Data Center Training
- Acing the Annual Audit
- Mortgage Claims Issues
From the IRS
IRS to Introduce New Tax Transcript to Better Protect Taxpayer Data
The new transcript replaces the previous format and will be the default format available via Get Transcript Online, Get Transcript by Mail or the Transcript Delivery System for tax professionals as of September 23.
Student Loan Chronicles
For Your Blog
Sanctions and Irony and Fraud, Oh My!
- US v. VALDÉS-AYALA – For at least eight years, Defendant, who was not an attorney, exploited desperation of individuals behind on court-ordered child support payments by assisting them in filing ‘skeleton’ petitions.
In Case You Missed It . . .
Critical Case Comment DON’T WANT TO MISS
Claim that is not timely filed cannot be an allowed claim and trustee is precluded from making distribution to the claim even where no application to disallow the claim has been filed.
“Judge Dees has prevented the payment of the claim even though no one sought to disallow the claim or challenge the payments.”
Scroll to the very bottom of the article page for an important comment and to add your own comments.
MORTGAGE MATTERS (Not password protected)
Article: The Million-Dollar Brownstone No One Owned – On a quiet street in Brooklyn, a real-estate imbroglio proved nearly impossible to solve.
OF INTEREST (Not password protected)
Federal Courts Propose Broad Evidence, Civil, Bankruptcy Rule Changes (Bankruptcy Rules 2002(h), 2004(c))
DEBT AND THE ECONOMY (Not password protected)
FOR YOUR HEALTH (Not password protected)
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August 20, 2018
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Archives |
Critical Case Comment
Claim that is not timely filed cannot be an allowed claim and trustee is precluded from making distribution to the claim even where no application to disallow the claim has been filed.
“Judge Dees has prevented the payment of the claim even though no one sought to disallow the claim or challenge the payments.”
Are You Throwing Your Bankruptcy Client to the Predators?
Standard operating procedure for taxing authorities who are in discussion with a tax payer about a tax issue is to “request” that the taxpayer sign an extension of the period in which the taxes can be assessed. The alternative, the taxpayer is told, is an immediate assessment.
Trustee Passes Away
It is with great sadness and respect that we report the passing away of a Standing Chapter 13 Trustee for the Eastern District of Pennsylvania with offices in Reading. Frederick L. “Fred” Reigle was appointed in 1981. He passed away on July 15th after a lengthy illness.
Standing Chapter 13 Trustee William C. Miller has been appointed interim trustee of the division until a replacement can be appointed.
NACTT Miami – Staff Track DVDs Now Available
Order the four staff track sessions TODAY for ONLY $75
(Ships within 24 hours)Training Includes
(Ships within 24 hours)Training Includes
- Understanding Business Entities and the Self-Employed Debtor
- National Data Center Training
- Acing the Annual Audit
- Mortgage Claims Issues
Passing of Jim Batchelor
Jim Batchelor passed away Saturday morning August 10th after a long battle with cancer. Jim was the recipient of the Civility Award at the 2017 State of the Court luncheon and was a well-respected colleague in the bankruptcy bar in the Western District of Michigan.
No Room for Error? Determining Whether Your “Secured” Creditor Has a Fatally Deficient UCC-1 – Part 2 of 2
Trustees and debtors’ counsel may often think they cannot win in a contest over the secured status of a creditor. Prompted by recent bankruptcy and district court decisions, Larry Ahern reviewed in Part I some rules governing the preparation and filing of financing statements (UCC-1s) and explained how a UCC-1 might be fatally deficient. Now, in Part II, he reviews four recent decisions that illustrate the strictness of the rules governing naming of debtors on UCC-1s.
On the CFPB
CFPB Settles with Defendants in Hydra Group Payday Lending Case
District Court entered an Order effectuating settlement CFPB and Richard Moseley, Sr., Richard Moseley, Jr., and 20 interrelated corporate entities controlled by Moseley, Sr. and Moseley, Jr.
For Your Blog
Sanctions and Irony and Fraud, Oh My!
- Fil-Am Lawyer Pleads ‘Not Guilty’ to Attempted Murder of Ex-Clients (Has Chapter 13 lawyer income really sunk this low? . . . Oh My indeed!! . . . Now, the rest of the story . . . (on good authority but not verified, Academy staff was told that the victims had been in a Chapter 13 which was dismissed. Their attorney (Paul Mendoza Allen) went to their home to demand the balance of his fees. When they said they had no money, he shot them, then tried to flee.)
In Case You Missed It . . .
Ask Ms. Ps & Qs
Dear Readers:I just finished reading a disgorgement . . . Although D’Arata is a chapter 7 case, you might be interested in the Court’s take on appearance counsel.
IN THE NEWS (Not password protected)
Retired and Broke: Bankruptcy filings surging for seniors
MORTGAGE MATTERS (Not password protected)
Article: Fannie Mae Seeks to Offload Large Pool of Reperforming Loans BIDS DUE SEPTEMBER 6th
Article: Americans Now Have More Debt Than Ever Before – Mortgage debt hits highest level in 9 years
Article: Paying Rent in America
Article: Home Remodels Up 30%
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
Many Americans Still Feel the Sting of Lost Wealth – The housing crash hurt the poor and middle class more than the rich, who rode the bull stock market
BY THE NUMBERS (Not password protected)
Stagnating Salaries: Real US wages are essentially back at 1974 levels, Pew reports
CYBERSECURITY (Not password protected)
FOR YOUR HEALTH (Not password protected)
The Illness Is Bad Enough. The Hospital May Be Even Worse – Elderly particularly vulnerable to “post-hospital syndrome,” some experts believe, and that may be why so many patients return.
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August 13, 2018
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Archives |
Ask Ms. Ps & Qs
Dear Readers:I just finished reading a disgorgement . . . Although D’Arata is a chapter 7 case, you might be interested in the Court’s take on appearance counsel.
No Room for Error? Determining Whether Your “Secured” Creditor Has a Fatally Deficient UCC-1 – Part 2 of 2
Trustees and debtors’ counsel may often think they cannot win in a contest over the secured status of a creditor. Prompted by recent bankruptcy and district court decisions, Larry Ahern reviewed in Part I some rules governing the preparation and filing of financing statements (UCC-1s) and explained how a UCC-1 might be fatally deficient. Now, in Part II, he reviews four recent decisions that illustrate the strictness of the rules governing naming of debtors on UCC-1s.Click here for Part 1
New Study
Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society
“Using data from the Consumer Bankruptcy Project, we find more than a two-fold increase in the rate at which older Americans (age 65 and over) file for bankruptcy and an almost five-fold increase in the percentage of older persons in the U.S. bankruptcy system.”See also:
- Older Americans’ Rising Bankruptcy Filings
- ‘Too Little Too Late’: Bankruptcy Booms Among Older Americans
- Growing Number of Americans Over 65 Filing for Bankruptcy Just to Get By, and It Could Signal a Larger Problem in US
- Baby Boomers in Bankruptcy
- Retirees Struggle to Locate Billions in Lost Pensions
For Your Blog
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Discharged or Not? Post-Petition Interest on Pre-Petition Priority Taxes
“The Chapter 13 Debtor who completes the Plan and obtains a discharge is relieved of any further liability associated with the priority tax debt. Interest and penalties continue to accrue during the pendency of the Chapter 13 case and if the case is either dismissed or converted to a proceeding under Chapter 7, the suspension of the accrual of interest and penalties terminates and is excepted from the Chapter 7 discharge.”
IN THE NEWS (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: Wells Fargo Faces Tax Credit Probes
Article: Housing: Still A Seller’s Market
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
BY THE NUMBERS (Not password protected)
CYBERSECURITY (Not password protected)
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August 6, 2018
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Archives |
No Room for Error? Determining Whether Your “Secured” Creditor Has a Fatally Deficient UCC-1 – Part 1 of 2
Trustees and debtors’ counsel may often think they cannot win in a contest over the secured status of a creditor. Prompted by recent bankruptcy and district court decisions, Larry Ahern reviews some rules governing the preparation and filing of financing statements (UCC-1s) and explains how a UCC-1 might be fatally deficient.In Part II, he will review four recent decisions that illustrate the strictness of the rules governing naming of debtors on UCC-1s.
Discharged or Not? Post-Petition Interest on Pre-Petition Priority Taxes
“The Chapter 13 Debtor who completes the Plan and obtains a discharge is relieved of any further liability associated with the priority tax debt. Interest and penalties continue to accrue during the pendency of the Chapter 13 case and if the case is either dismissed or converted to a proceeding under Chapter 7, the suspension of the accrual of interest and penalties terminates and is excepted from the Chapter 7 discharge.”
From the IRS
IRS Offers Guidance on Recent 529 Education Savings Plan Changes
On 7/30/18 the IRS and Department of the Treasury announced their intent to issue regulations on three recent tax law changes affecting popular 529 education savings plans.
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Critical Case Comment
A discharge under § 1328(a) will discharge an obligation of the debtor to a condominium association where the condominium was purchased pre-petition and owned by the debtor post-petition.Click here for Opinion
IN THE NEWS (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: Slump in California Home Sales
Article: Average Closing Costs $5650.00
Article: Poorer Half of US Bolsters Economy
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
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July 30, 2018
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Archives |
Critical Case Comment
A discharge under § 1328(a) will discharge an obligation of the debtor to a condominium association where the condominium was purchased pre-petition and owned by the debtor post-petition.Click here for Opinion
From the Courts
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Who Gets Paid When? A Short Primer on the Order of Distribution in the Era of National and Local Plans
The Federal Rules of Bankruptcy Procedure and Official Forms were amended last year in ways that significantly affected Chapter 13 Trustees and practitioners in many ways. Below, Mr. Ahern follows his 2017 series with Beverly Burden by discussing an important unanswered question for trustees, debtors and creditors: How is the order of distribution to creditors determined?
IN THE NEWS (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: Tapping 401K Is Risky
Here Are 5 Reasons Millennial Homeownership Rate Is Low – Urban Institute breaks down the data
Article: Lil Kim Struggles to Save Home in BK
OF INTEREST (Not password protected)
Bankruptcy Law as a Balancing System – Lessons from a Comparative Analysis of the Interaction Between Labor and Bankruptcy Laws
BY THE NUMBERS (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
Mortgage, Groupon and Card Debt – How the bottom half bolsters U.S. economy
CYBER SECURITY (Not password protected)
None of Google’s 85,000 Employees Have Been Successfully Phished in Over a Year — And It’s Because of a Simple $20 Product Anyone Can Use
IN THE ‘OH WOW’ DEPARTMENT (Not password protected)
Health Insurers Are Vacuuming Up Details About You — And It Could Raise Your Rates
Without any public scrutiny, insurers and data brokers are predicting your health costs based on data about things like race, marital status, how much TV you watch, whether you pay your bills on time or even buy plus-size clothing.
Without any public scrutiny, insurers and data brokers are predicting your health costs based on data about things like race, marital status, how much TV you watch, whether you pay your bills on time or even buy plus-size clothing.
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July 23, 2018
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Archives |
WINNER: Cawthon Custer of Albany and Columbus, Georgia, is the NACTT 2018 conference winner of a one-year free subscription to ConsiderChapter13.org
Congratulations Cawthon Custer!!!
Who Gets Paid When? A Short Primer on the Order of Distribution in the Era of National and Local Plans
The Federal Rules of Bankruptcy Procedure and Official Forms were amended last year in ways that significantly affected Chapter 13 Trustees and practitioners in many ways. Below, Mr. Ahern follows his 2017 series with Beverly Burden by discussing an important unanswered question for trustees, debtors and creditors: How is the order of distribution to creditors determined?
Rule 3002.1 and the Tangled Web of HOA Assessments
“Secured creditors relying on the precept that a secured claim passes through bankruptcy unaffected (absent a proceeding focused on the lien) take note.”
From the IRS
Here’s How the IRS Contacts Taxpayers
Everyone should know how the IRS contacts taxpayers
Retired Bankruptcy Judge Passes Away
Judge James F. Queenan
From Our Friends at Credit Slips
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Critical Case Comment
Although a secured creditor with a purchase money security interest in personal property is entitled to adequate protection payments under § 1326(a)(1), the trustee is not obligated to make the payments without a motion, hearing, or court order.
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
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July 16, 2018
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Archives |
Critical Case Comment
Although a secured creditor with a purchase money security interest in personal property is entitled to adequate protection payments under § 1326(a)(1), the trustee is not obligated to make the payments without a motion, hearing, or court order.
From the Ninth Circuit Court of Appeals
Opinion: Goudelock v. Sixty-01 Association of Apartment Owners“The panel reversed the district court’s decision affirming the bankruptcy court’s summary judgment in favor of a condominium association, which sought in an adversary proceeding to determine the dischargeability of a debtor’s personal obligation to pay condominium association assessments that accrued between the date the debtor filed her Chapter 13 bankruptcy petition and the date the condominium unit was foreclosed upon.”See also: Post-Petition Condo Fees Dischargeable
From the IRS
Spread the Word . . . this could be a significant amount of money for veterans.
Veterans Owed Refunds for Overpayments Attributable to Disability Severance Payments Should File Amended Returns to Claim Tax Refunds
- $1,750 for tax years 1991 – 2005
- $2,400 for tax years 2006 – 2010
- $3,200 for tax years 2011 – 2016
District Authority to Opt Out of the “National” Chapter 13 Plan: Does Your Local Plan Improperly Restrict Plan Provisions?
The Rules of Bankruptcy Procedure were amended last year in ways that significantly affected Chapter 13 Trustees and practitioners in many ways. In a series of articles, Beverly Burden and Larry Ahern explained many of these changes.This week, Mr. Ahern follows that series with an issue that tests the interplay of the national rules with local practice, rules, and judicial rulings.
On the CFPB
- CFPB Acting Director Mulvaney announced he has selected Brian Johnson, who currently serves as Principal Policy Director at the Bureau, to assume the responsibilities of Acting Deputy Director. “Brian Johnson is the first person I hired at the Bureau and has been an indispensable advisor,” said Acting Director Mulvaney. “Brian knows the Bureau like the back of his hand. He approaches his role as a public servant with humility and unsurpassed dedication. His steady character, work ethic, and commitment to free markets and consumer choice make him exactly what our country needs at this agency.”
NACTT Miami – Evaluation Time
IF YOU ATTENDED THE SEMINAR, we value your opinion. Please take a few moments to complete this evaluation. Your feedback is important to us and will assist in planning the 2019 Indianapolis Seminar. We look forward to seeing you there.Mark Your Calendar NOW – NACTT 2019 Indianapolis – July 17-19 – Yep, WEDNESDAY – FRIDAY (Pre-mtgs will be on Tuesday the 16th)
From Our Friends at Credit Slips
In Case You Missed It . . .
Permitted Changes to Official Bankruptcy Forms
The use of Official Bankruptcy Forms is required with certain exceptions, and the ability to modify Official Forms is limited. However, there are exceptions. Click here for an analysis done by the AO of permitted changes to official bankruptcy formsSee also: Director’s Forms and Their Use by Phil Lamos
MORTGAGE MATTERS (Not password protected)
Black Knight: Tappable Equity Up $380B In Q1
Article: Millennial Homeownership Stymied
BY THE NUMBERS (Not password protected)
OF INTEREST (Not password protected)
CONSUMER WARNING (Not password protected)
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July 9, 2018
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Archives |
The FDCPA and Bankruptcy One Year After Midland v. Johnson, Part IV Bankruptcy Court Interpretations
The conclusion to the Midland v. Johnson ‘epic’. . . “In Midland v. Johnson, the Supreme Court put an end to FDCPA lawsuits over proofs of claims for stale debts, at least where the claimant tells the truth about the date of last payment. Since the Midland ruling in May of 2017, there have been few decisions from bankruptcy courts on complaints under the Fair Debt Collection Practices Act (FDCPA).”
Click here for Part I
Click here for Part II
Click here for Part III
District Authority to Opt Out of the “National” Chapter 13 Plan: Does Your Local Plan Improperly Restrict Plan Provisions?
The Rules of Bankruptcy Procedure were amended last year in ways that significantly affected Chapter 13 Trustees and practitioners in many ways. In a series of articles, Beverly Burden and Larry Ahern explained many of these changes.
This week, Mr. Ahern follows that series with an issue that tests the interplay of the national rules with local practice, rules, and judicial rulings.
Permitted Changes to Official Bankruptcy Forms
The use of Official Bankruptcy Forms is required with certain exceptions, and the ability to modify Official Forms is limited. However, there are exceptions. Click here for an analysis done by the AO of permitted changes to official bankruptcy forms
See also: Director’s Forms and Their Use by Phil Lamos
NACTT Miami – Evaluation Time
IF YOU ATTENDED THE SEMINAR, we value your opinion. Please take a few moments to complete this evaluation. Your feedback is important to us and will assist in planning the 2019 Indianapolis Seminar. We look forward to seeing you there.
Mark Your Calendar NOW – NACTT 2019 Indianapolis – July 17-19 – Yep, WEDNESDAY – FRIDAY (Pre-mtgs will be on Tuesday the 16th)
From the Courts – Retirements
For Your Blog
- The 130 Best Military Discounts in 2018 – Active-duty service members, veterans, and retirees can save big by asking about deals and freebies.
From Our Friends at Credit Clips
Student Loan Chronicles
- Sixth Circuit Opinion: Follow Brunner until the Circuit Court decides to use a different standard
- Off the Salary Battlefield, Public Sector Struggles with Retention, Student Debt – As Big Law races to pay young lawyers ever-higher starting salaries, the public sector is struggling to pay enough to lawyers burdened by student debt.
IN THE NEWS (Not password protected)
Debtor Must Exhaust Administrative Remedies to Get Damages and Fees from IRS – Given that financial issues are the number one reason for security clearance denials and revocations, it’s no small wonder that one of the most frequent questions my office receives is how to resolve delinquent debt.
MORTGAGE MATTERS (Not password protected)
CoreLogic: Home Prices Up 7.1%
Redfin: Weak Home Sales A Major Threat
DEBT AND THE ECONOMY (Not password protected)
OF INTEREST (Not password protected)
Best Advice to U.S. Dairy Farmers? ‘Sell Out as Fast as You Can’
Upon Further Review, Ninth Circuit Finds No Flag on the Play – Creditor Allowed to Block a Cram-Up Plan Following Claims Purchases
JUST FOR FUN (Not password protected)
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July 2, 2018
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Archives |
Due to the NACTT Annual Conference, this week’s update will be brief and primarily a ‘Greatest Hits’ edition.
Impact of Supreme Court’s Decision on § 523(a)(2)(B)
“The opinion suggests that a statement respecting the debtor’s financial condition, whether a single-asset or overall condition statement, must meet all the requirements of subsection 523(a)(2)(B) to be nondischargeable. Otherwise, even though the statement is false, the debt is dischargeable, notwithstanding subsection 523(a)(2)(A).”
Not Born in the USA? The Perils of Bankruptcy Filings by Undocumented Persons
An excellent article exploring answers to can and should an undocumented person file for bankruptcy protection in America??
Sanctions and Irony and Fraud, Oh My!
From Our Friends at Credit Slips
OF INTEREST (Not password protected)
FOR YOUR HEALTH (Not password protected)
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June 25, 2018
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Archives |
The FDCPA and Bankruptcy One Year After Midland v. Johnson, Part III Does the Bankruptcy Code Implicitly Repeal the FDCPA?
“Given the ease with which time-barred claims may be disallowed, what could explain a debt buyer’s decision to invest in the expensive systems and personnel necessary to file these time-barred proofs of claim in bulk?”
Click here
for Part I
Click here for Part II
Impact of Supreme Court’s Decision on § 523(a)(2)(B)
“The opinion suggests that a statement respecting the debtor’s financial condition, whether a single-asset or overall condition statement, must meet all the requirements of subsection 523(a)(2)(B) to be nondischargeable. Otherwise, even though the statement is false, the debt is dischargeable, notwithstanding subsection 523(a)(2)(A).”
The Real Truth About Communication Between Bankruptcy Lawyers & Clients
“’Creditors,’ for debtors, means those folks who send a monthly bill, and who call if you are late.‘Creditors,’ for bankruptcy lawyers, means everyone who has a claim of any kind against the client.”
Sanctions and Irony and Fraud, Oh My!
Student Loan Chronicles
In Case You Missed It . . .
The Death of MFDRA
“IRS’s Publication 4681 is a very helpful tool to explore the different ways taxpayers can exclude mortgage indebtedness and other types of 1099 forgiveness.”MORTGAGE MATTERS (Not password protected)
Article: Existing Home Sales Backpedal in May
Report: HELOC’s Up 14% In 1st Qtr
Report: ReFi’s Down To 30%
MBA: Applications Up 5.1%
DEBT AND THE ECONOMY (Not password protected)
OF INTEREST (Not password protected)
Gearing up for retirement? Make sure you understand your tax obligations
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
Smoking Hits All-Time Low in U.S. – The decline has coincided with a greater understanding that smoking is a cause of cancer, heart disease and other health problems.
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June 18, 2018
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Archives |
FDCPA and Bankruptcy: One Year After Midland v. Johnson Part II
“Now, one year after Midland v. Johnson, this multi-part article will seek an understanding of what that decision tells us about the future of FDCPA litigation in bankruptcy cases.”Click here for Part I
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IT’S NOT TOO LATE TO MAKE YOUR PLANS TO ATTEND THE NACTT ANNUAL CONFERENCE IN MIAMI.
Attorney Leffler, along with an esteemed panel will discuss Remedies When Proof of Claim Compliance Fails.
And here’s another Miami “Of Interest” article:
The Death of MFDRA
“IRS’s Publication 4681 is a very helpful tool to explore the different ways taxpayers can exclude mortgage indebtedness and other types of 1099 forgiveness.”
Credit Cards in the News
- Americans Just Paid Off a Ton of Credit-Card Debt – But here’s the bad news
Sanctions and Irony and Fraud, Oh My!
- Paralegal Embezzled $900,000 From Connecticut Firm and Attorney, According to Prosecutors
- See also: Ask Ms. Ps & Qs May 13th, 2018
- $280M Settlement Reached with Ezra Merkin in Madoff Case – Nearly $13 billion, or 74 percent of the estimated $17.5 billion invested in Bernard Madoff’s Ponzi scheme, has been recovered, one official said.
- Debt Collector Accused of Scamming Credit Unions Loses Appeal – Charles V. Stanley remains in jail after allegedly committing more debt collection crimes while out on bail.
For Your Blog
- Worried About Cuts to Social Security? Here’s the bible on navigating this retirement benefit.
Student Loan Chronicles
From Our Friends at Credit Slips on the CFPB
On the CFPB
DannLaw Launches “Scoundrels, Scams and Cheats” Database to Ensure Public Access to CFPB Consumer Complaint Reports“ . . . , the head of the Consumer Financial Protection Bureau told a group . . . that he would soon hide the Bureau’s consumer complaint database from the American people and the media. . . . Marc Dann outlined his law firm’s plan . . . . “I am pleased to announce that DannLaw has downloaded all the information in the CFPB database and uploaded it into one that will remain accessible to the public and the media once Mulvaney carries out his threat,”
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IT’S NOT TOO LATE TO MAKE YOUR PLANS TO ATTEND THE NACTT ANNUAL CONFERENCE IN MIAMI.
Experts Ryan Williams, John Rao, and Micheal Freeman will discuss What’s Left of Consumer Protection
In Case You Missed It . . .
Social Security and Chapter 13 – Can’t We All Just Get Along?
More than 12 years after its enactment, BAPCPA continues to confuse and confound. Could § 362(c)(3) be any more convoluted? Why did Congress define “disposable income” yet continue to require payment of “projected disposable income”? Who thought that hanging paragraphs were a good idea?
IN THE NEWS (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
OF INTEREST (Not password protected)
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
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June 11, 2018
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Archives |
Welcome New Members: Clifford Gramer, Albuquerque, NM
FDCPA and Bankruptcy: One Year After Midland v. Johnson
“Now, one year after Midland v. Johnson, this multi-part article will seek an understanding of what that decision tells us about the future of FDCPA litigation in bankruptcy cases.”
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IT’S NOT TOO LATE TO MAKE YOUR PLANS TO ATTEND THE NACTT ANNUAL CONFERENCE IN MIAMI.
Attorney Leffler, along with an esteemed panel, will discuss Remedies When Proof of Claim Compliance Fails.
Social Security and Chapter 13 – Can’t We All Just Get Along?
More than 12 years after its enactment, BAPCPA continues to confuse and confound. Could § 362(c)(3) be any more convoluted? Why did Congress define “disposable income” yet continue to require payment of “projected disposable income”? Who thought that hanging paragraphs were a good idea?
When Does the Statute of Limitations Commence
Does the statute of limitations for suing a debt collector for violation of the Fair Debt Collection Practices Act commences on the date the violation occurred, or the date the consumer discovered the violation?
Sanctions and Irony and Fraud, Oh My!
- SoCal Lawyer Facing Fraud Case Sentencing Files for Bankruptcy – Bruce Haglund, awaiting sentencing on charges that he helped perpetrate a $5 million Ponzi scheme, filed for Chapter 7
Student Loan Chronicles
- Court Considers Questions on Loan Forgiveness for Defrauded Students – Student borrowers argue the education secretary must follow previous policy to grant full loan relief to former Corinthian Colleges students.
- Student Loan Debt Just Hit $1.5 Trillion – Women hold most of it
- Financial Aid Letters Often Hide Real Cost of College – See if you can decipher these actual letters.
- Women Have $890 Billion in Student Loan Debt – Country’s Biggest Share
From SCOTUS
On the CFPB
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IT’S NOT TOO LATE TO MAKE YOUR PLANS TO ATTEND THE NACTT ANNUAL CONFERENCE IN MIAMI.
Experts Ryan Williams, John Rao, and Micheal Freeman will discuss What’s Left of Consumer Protection
In Case You Missed It . . .
The Law of Unintended Consequences
We Don’t Need No Stinkin’ Objections, Revisited: Lee v. Field
Recent decisions of the Eleventh and Ninth Circuits have prompted us to ask the meaning of the word “objections” as they may be required by the Code or Rules.In an earlier, two-part comment, Larry Ahern reviewed the opinion of the Eleventh Circuit in Title Max v. Northington, and some consequences of that decision, which may not have been intended by the majority.This week, he joins Judge Brown in a look at the more recent Ninth Circuit opinion in Lee v. Field.This is part of a series of comments on statutes and decisions that have consequences beyond the contemplation of the legislators and judges involved. If you have suggestions for future analyses, please send them to Mr. Ahern.Click here for We Don’t Need No Stinkin’ Objections Part 1Click here for We Don’t Need No Stinkin’ Objections Part 2
IN THE NEWS (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
Black Knight: Housing Affordability Stretched
BY THE NUMBERS (Not password protected)
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
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June 4, 2018
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Archives |
Welcome New Members: Sheldon Singer, Kansas City, MO; Michael M. Custer, Albany, GA; and Carol Cross Stone, Longview, TX
The Law of Unintended Consequences
We Don’t Need No Stinkin’ Objections, Revisited: Lee v. Field
Recent decisions of the Eleventh and Ninth Circuits have prompted us to ask the meaning of the word “objections” as they may be required by the Code or Rules.In an earlier, two-part comment, Larry Ahern reviewed the opinion of the Eleventh Circuit in Title Max v. Northington, and some consequences of that decision, which may not have been intended by the majority.This week, he joins Judge Brown in a look at the more recent Ninth Circuit opinion in Lee v. Field.This is part of a series of comments on statutes and decisions that have consequences beyond the contemplation of the legislators and judges involved. If you have suggestions for future analyses, please send them to Mr. Ahern.Click here for We Don’t Need No Stinkin’ Objections Part 1Click here for We Don’t Need No Stinkin’ Objections Part 2
Warning: The “Grant Scam” Is Real
“Recently one of clients received a message from someone who appeared to be a coworker, telling our client about a grant the coworker recently received. Intrigued and looking for ways to pay upcoming tuition bills, our client was put in touch with the co-worker’s “grant agent” . . .”
From the IRS
Law Change Affects Moving, Mileage and Travel Expenses; Higher Depreciation Limits
- No deduction for moving expenses
- No miscellaneous deductions for un-reimbursed employee expenses (uniforms, union dues and the deduction for business-related meals, entertainment and travel)
- 54.5 cents for every mile of business travel driven, a 1 cent increase from 2017
- 18 cents per mile driven for medical purposes, a 1 cent increase from 2017
- 14 cents per mile driven in service of charitable organizations, which is set by statute and remains unchanged
- Depreciation maximum standard automobile cost may not exceed $50,000 for passenger automobiles, trucks and vans placed in service after Dec. 31, 2017. Previously, the maximum standard automobile cost was $27,300 for passenger automobiles and $31,000 for trucks and vans
From Our Friends at Credit Slips
OCC Payday Lending Bulletin
Also from the CFPB: Acting Director Mick Mulvaney issued the following statement in response to bulletin from the Office of the Comptroller of the Currency regarding short-term, small-dollar credit:“I applaud Comptroller Otting’s move to encourage national banks and federal savings associations to offer short-term, small-dollar installment loans. Millions of Americans desperately need access to short-term, small-dollar credit. We cannot simply wish away that need. In any market, robust competition is a win for consumers. The Bureau will strive to expand consumer choice, and I look forward to working with the OCC and other partners on efforts to promote access and innovation in the consumer credit marketplace.”
Student Loan Chronicles
There’s Always a Car
$523 Monthly Payment is New Standard for Car Buyers
Malware is Bad
More Criminalization of Private Debt
In Case You Missed It . . .
Critical Case Comment
An attorney violates § 526(a)(4) if the attorney instructs a client to pay the bankruptcy related legal fees using a credit card.“It is without question that the complexities of the bankruptcy system . . .requires some sophistication and, . . . the assistance of a professional. To preclude any realistic way to pay these fees and costs is ridiculous.”
DEBT AND THE ECONOMY (Not password protected)
OF INTEREST (Not password protected)
Canadian Study: Keeping Up with the Joneses: Neighbors of Lottery Winners Are More Likely to Go Bankrupt – Seeing someone else get rich puts people into spending mode
MORTGAGE MATTERS (Not password protected)
Article: Mortgage Rates Up, Sales Down
Report: MBA Economic Forecast
MILITARY MATTERS (Not password protected)
What Veterans Need to Know About Student Loan Discharges – Veterans with severe physical impairments who borrowed federal student loans will receive a notification on erasing their debt
FOR YOUR HEALTH (Not password protected)
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May 28, 2018
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Archives |
In memory of the men and women who gave their lives for our Country, there will be no weekly update.
If you are looking for something to read, we recommend scrolling back through previous updates (below) and catch up on anything you might have missed.
Some suggestions include:
- The Gig Economy – Classifying Independent Contractors
- IRS Caught Double Dipping
- Crushing Tax Change For Injured Consumers
- We Don’t Need No Stinkin’ Objections
- We Don’t Need No Stinkin’ Objections Part 2 of 2
- Critical Case Comment – An attorney violates § 526(a)(4) if the attorney instructs a client to pay the bankruptcy related legal fees using a credit card.“It is without question that the complexities of the bankruptcy system . . .requires some sophistication and, . . . the assistance of a professional. To preclude any realistic way to pay these fees and costs is ridiculous.”
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May 21, 2018
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Archives |
Critical Case Comment
An attorney violates § 526(a)(4) if the attorney instructs a client to pay the bankruptcy related legal fees using a credit card.“It is without question that the complexities of the bankruptcy system . . .requires some sophistication and, . . . the assistance of a professional. To preclude any realistic way to pay these fees and costs is ridiculous.”
From the Editor
- Dismissal – Employer’s housing loan was not consumer debt for purposes of § 707b)(1)
- Reopening Closed Case – Cause did not exist to reopen case to allow extension to file certificate of financial management course
- Trustee’s Attorney Fees – Fees properly denied for services not necessary to case administration
From the IRS
Tax Reform: Changes to Depreciation Affect Businesses Now
IRS reminds businesses that passage of the Tax Cuts and Jobs Act may affect their depreciation deductions and taxes.Attention Debtor Attorneys: While you may need this information to properly advise your clients, you will certainly want to glance at it for your own business taxes.
From Our Friends at Credit Slips
Illegal Repo Practices
“ . . . of particular note is the end of the article, wherein the repo man profiled says that he will return ransom the defaulted borrower’s personal goods found in the car back to the buyer for a $50 flat fee (with child car seats given back for free).”
Sanctions and Irony and Fraud, Oh My!
- Tom Petters Trustee Alleges Bogus Multimillion Dollar Claim – Bankruptcy judge will decide if the claim of up to $100 million is valid
NCLC Seeks Nominations for Vern Countryman Award 2018
The National Consumer Law Center encourages your nominations for a deserving defender of consumer rights to receive the 2018 Countryman Award, which will be presented at the annual Consumer Rights Litigation Conference. Deadline for receipt of nominations is June 29th.Click here for a list of previous winners.
From the National Consumer Bankruptcy Rights Center
In Case You Missed It . . .
Ask Ms. Ps & Qs
“I’ve heard it said . . . that the best predictor of future behavior is past behavior. . . . So what do you get when you hire an embezzler, fire him, and rehire him?”
DEBT AND THE ECONOMY (Not password protected)
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
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May 14, 2018
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Archives |
Ask Ms. Ps & Qs
“I’ve heard it said . . . that the best predictor of future behavior is past behavior. . . . So what do you get when you hire an embezzler, fire him, and rehire him?”
The Gig Economy – Classifying Independent Contractors
“The issue at hand is how to properly classify a worker who performs discrete services for a company: Is that worker a company employee or an independent contractor?”
Register NOW for This Friday’s Webinar:
Periodic Mortgage Statements – What You Need to Know
May 18 at 2:00 eastern/1:00 central/12:00 mtn/11:00 pacificLEARN FROM THE BEST: Chapter 13 Trustees Debra Miller and Russell Simon will be joined by John Rao of the National Consumer Law Center
Discussion topics will include, not only the new mortgage statements (rule effective April 19th), but also new RESPA party in interest issues, pointers as to what to do when the statements bear no resemblance to the trustee’s records, and reasons for mortgage coding. This webinar is advanced level and directed specifically toward Trustees and Trustees’ staff; however, mortgage creditors/servicers and debtor attorneys will also benefit from this presentation.
Discussion topics will include, not only the new mortgage statements (rule effective April 19th), but also new RESPA party in interest issues, pointers as to what to do when the statements bear no resemblance to the trustee’s records, and reasons for mortgage coding. This webinar is advanced level and directed specifically toward Trustees and Trustees’ staff; however, mortgage creditors/servicers and debtor attorneys will also benefit from this presentation.
PHH Gives Up Challenge to CFPB Constitutionality – Will not pursue case to Supreme Court
NCLC Seeks Nominations for Vern Countryman Award 2018
The National Consumer Law Center encourages your nominations for a deserving defender of consumer rights to receive the 2018 Countryman Award, which will be presented at the annual Consumer Rights Litigation Conference. Deadline for receipt of nominations is June 29th.Click here for a list of previous winners.
Student Loan Chronicles
- Alexandrov & Jiménez Article Finds 2005 Bankruptcy Reforms “Failed Miserably” to Help Students
- Click here for study
- Student Debt Just Hit $1.5 Trillion – It stood at about $600 billion 10 years ago
- Federal Student Loans Are About to Get More Expensive – What you need to know
- The Truth About Student Loan Bankruptcy Discharge – It can be difficult to discharge a student loan by declaring bankruptcy, but it’s not impossible.
From the National Consumer Bankruptcy Rights Center
For Your Blog
- Tips for Taxpayers Who Missed the April Filing Deadline – Great, quick tips to assist your clients who have procrastinated and are now scared to file their return
In Case You Missed It . . .
Should the Stay Stay or Should It Go: Successive Filings and the Termination of the Automatic Stay
“The complexity is multiplied by a split of authority in the case law about what actually happens when the automatic stay is terminated under §362(c)(3).”IN THE NEWS (Not password protected)
Chicago Begins to Rethink How Bankruptcy Lawyers Get Paid – Judges are demanding that lawyers tell their clients that their other debts might not get paid, but their lawyers will.
OF INTEREST (Not password protected)
Cramdown: Can “Dirt-for-Debt” Qualify as the Indubitable Equivalent of a Secured Claim? (Chapter 11 case)
Woman Receives $5,751 ER Bill—For Ice Pack and Bandage – The hospital zeroed out the bill after a reporter asked questions
MORTGAGE MATTERS (Not password protected)
Article: Mortgage Delinquency Keeps Falling, Drops For 19th Straight Quarter – But one generation shows higher delinquency levels than the rest
MILITARY MATTERS (Not password protected)
ScamBusters: Military Members Often Targeted by ID Thieves
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May 7, 2018
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Archives |
Should the Stay Stay or Should It Go: Successive Filings and the Termination of the Automatic Stay
“The complexity is multiplied by a split of authority in the case law about what actually happens when the automatic stay is terminated under §362(c)(3).”Recent Developments in Chapter 12: Summary of December 1, 2017 Rules Changes – Part 2
Before last December’s amendment of the Bankruptcy Rules (discussed in Part I of this series), the Bankruptcy Code itself was amended and likely will have a more significant effect on Chapter 12 plans. Knowing that many Chapter 13 trustees also serve as their districts’ Chapter 12 trustees, Larry Ahern follows his analysis of the amended Rules in Part I with an analysis of that 2017 amendment of Chapter 12.Part III of this series is expected to provide new forms for plan provisions affected by these changes.
Meet the New GA Judge
Honorable Sage M. Sigler was appointed as a Bankruptcy Judge for the Northern District of Georgia on March 28, 2018.
NCLC Seeks Nominations for Vern Countryman Award 2018
The National Consumer Law Center encourages your nominations for a deserving defender of consumer rights to receive the 2018 Countryman Award, which will be presented at the annual Consumer Rights Litigation Conference.Click here for a list of previous winners.
Position Openings
Term Law Clerk-Chambers
Judge: Sage Sigler
United States Bankruptcy Court, Atlanta, GA
Applications Due Date: May 31, 2018U.S. Bankruptcy Judge
Eastern District of Michigan
Application Due Date: May 31, 2018Chapter 7 Trusteeship
Eastern District of Virginia, Norfolk and Newport News Divisions
Application Due Date: May 11, 2018
Judge: Sage Sigler
United States Bankruptcy Court, Atlanta, GA
Applications Due Date: May 31, 2018U.S. Bankruptcy Judge
Eastern District of Michigan
Application Due Date: May 31, 2018Chapter 7 Trusteeship
Eastern District of Virginia, Norfolk and Newport News Divisions
Application Due Date: May 11, 2018
Disbarment and Back: Attorney James Brewer’s Road From Despair
The road to redemption is long and bumpy but can be accomplished. Congratulations Attorney Brewer
Sanctions and Irony and Fraud, Oh My!
Retired U.S. Bankruptcy Judge Dies in Little Rock at 80
“He was a classy guy with more friends than anybody I’ve ever met,” said Hodges, who for years practiced law down the hall from Fussell on the 17th floor of the downtown Little Rock skyscraper now known as the Regions Bank Building, until Fussell became a bankruptcy judge in 1983.
For Your Blog
Here’s How Much Borrowers Pay on Loans After a Bankruptcy – It’s more, of course, but you can lessen the blow by improving your credit score.
From the U.S. Courts
In Case You Missed It . . .
Student Loans and Chapter 13 – Federal Student Loan Debt in Bankruptcy: Recent Movement Towards Income-Driven Repayment Plans in Chapter 13
“This article is one you need to read as student loans and bankruptcy is the next battle and possible solution for Chapter 13 debtors with student loans.”
IN THE NEWS (Not password protected)
Bankruptcy Venue Reform: Are the District of Delaware and the Southern District of New York at Risk?
OF INTEREST (Not password protected)
Tax Sale Certificate Transfer Was Avoidable Preference (Chapter 7 case)
MORTGAGE MATTERS (Not password protected)
Article: No Housing Affordability Crisis Yet
Announcement: Freddie Mac Announces 3% Down Program
White Paper: Home Equity Conversion Mortgages
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April 30, 2018
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Archives |
Critical Case Comment
Where a student loan creditor and servicer do not comply with a provision of the confirmation order requiring the student loan creditor to properly apply payments and to permit the debtor to participate in the Income Driven Repayment plan or Public Service Forgiveness plan, attorney’s fees are appropriate and can be awarded against the servicer of the student loan. (Waites)
Student Loans and Chapter 13 – Federal Student Loan Debt in Bankruptcy: Recent Movement Towards Income-Driven Repayment Plans in Chapter 13
“This article is one you need to read as student loans and bankruptcy is the next battle and possible solution for Chapter 13 debtors with student loans.”
Sanctions and Irony and Fraud, Oh My! A Feature Article
It’s NOT Your Money
Ya’ know how sometimes you are tempted to borrow cash from your kid’s piggy bank for a birthday card, or a tip, or Girl Scout cookies, or any number of other things that you either didn’t plan for or snuck up on you? Even if you borrow the money, you KNOW it is not YOUR money!Apparently, attorneys sometimes forget this rule. Not only are you forbidden from taking clients’ money, you can’t even borrow it.
Position Openings
Term Law Clerk-Chambers
Judge: Sage Sigler
United States Bankruptcy Court, Atlanta, GA
Applications Due Date: May 31, 2018U.S. Bankruptcy Judge
Eastern District of Michigan
Western District of Wisconsin
Application Due Date: May 8, 2018Two Openings for Chapter 7 Trusteeships
Eastern District of Virginia, Norfolk and Newport News Divisions
Application Due Date: May 11, 2018
Judge: Sage Sigler
United States Bankruptcy Court, Atlanta, GA
Applications Due Date: May 31, 2018U.S. Bankruptcy Judge
Eastern District of Michigan
Western District of Wisconsin
Application Due Date: May 8, 2018Two Openings for Chapter 7 Trusteeships
Eastern District of Virginia, Norfolk and Newport News Divisions
Application Due Date: May 11, 2018
The road to redemption is long and bumpy but can be accomplished. Congratulations Attorney Brewer
Disbarment and Back: Attorney James Brewer’s Road From Despair
For Your Blog
IRS Warns of New Twist on Phone Scam
Crooks Direct Taxpayers to IRS.gov to “Verify” Calls
In Case You Missed It . . .
Ask Ms. Ps & Qs
Attorneys can’t be complicit in knowing that their client’s testimony is wrong and not doing anything about it; however, client perjury is a slippery slope.
IN THE NEWS (Not password protected)
How a Florida Supreme Court Case Could Affect Attorney Pay – Twelve law firms and legal aid groups weigh in with friend-of-the-court briefs in a case where a homeowner beat back a foreclosure lawsuit.
MORTGAGE MATTERS (Not password protected)
Article: Raising Rent on Subsidized Housing
Article: Home Prices and Mortgage Rates Rise
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
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April 23, 2018
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Archives |
Ask Ms. Ps & Qs
Attorneys can’t be complicit in knowing that their client’s testimony is wrong and not doing anything about it; however, client perjury is a slippery slope.
Sanctions and Irony and Fraud, Oh My! A Feature Article
It Makes No Sense to Act Ugly to the People Charged with Your Safety
The Bankruptcy Court for the Eastern District of VA, imposed sanctions against a veteran attorney by barring him from practicing law before that court for six months. He is also banned from even entering the Courthouse.
Click here for Memorandum Opinion
SCOTUS Blog
Argument Analysis: When Neither Baseball Nor Vermeer Analogies Persuade Court
Continuing the less-than-truthful theme from Ms. Ps & Qs, the Supreme Court heard argument:
“This case is about whether a debtor’s false statement about a single asset can be a statement ‘respecting the debtor’s … financial condition.’”
“This case is about whether a debtor’s false statement about a single asset can be a statement ‘respecting the debtor’s … financial condition.’”
From mediatbankry.com
Appeal Deadline in Consolidated Bankruptcy Cases: Supreme Court Adopts Minority View (Hall v. Hall)
This is an excellently written analysis of an important case regarding ‘immediate’ appeal.
From Our Friends at NCBRC
Credit Cards and Signatures
A continuation of last week’s links regarding signatures . . . From our friends at Credit Slips . . .
There’s Always a Car
Senate Repeals Auto-Loan Guidance in Precedent-Shattering Vote
In Case You Missed It . . .
Critical Case Comment
Chapter 13 debtor may void a valueless lien even where the creditor does not file a proof of claim.“Although the Court ignored the appearance of the word “allowed” in § 506(a), this is a common sense result. To require the claim to be allowed before it could be valued would have enabled wholly unsecured “lienholders” to simply refuse to file a claim in order to attempt to preserve their liens, which in turn would have forced debtor’s attorneys to file proofs of claims on behalf of these creditors for the sole purpose of having the liens voided.” Commentary by Chapter 13 Trustee Jody Bledsoe, Eastern District of North Carolina.
IN THE NEWS (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: Over Half of U.S. Metros Surpass Pre-Recession Peak Prices in Q1 – Some metros up more than 60%
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
Russian Hackers Mass-Exploit Routers in Homes, Govs, and Infrastructure – The hacks steal passwords and clear the way for future attacks, officials warn
DEBT AND THE ECONOMY (Not password protected)
FOR YOUR HEALTH (Not password protected)
Toe Ointment, A $937 Bill, And A Hard Truth About American Health CareDoes the above headline make you shake your head in wonderment at why a 10-minute visit with a P.A. and a drop of Neosporin costs $937? Then help Vox Media . . .Hospitals Keep ER Fees Secret. Share Your Bill to Help Change That
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April 16, 2018
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Archives |
Welcome New Members: Bradley Tamm, Honolulu, HI, and Pamela Stewart, Houston, TX
Critical Case Comment
Chapter 13 debtor may void a valueless lien even where the creditor does not file a proof of claim.“Although the Court ignored the appearance of the word “allowed” in § 506(a), this is a common sense result. To require the claim to be allowed before it could be valued would have enabled wholly unsecured “lienholders” to simply refuse to file a claim in order to attempt to preserve their liens, which in turn would have forced debtor’s attorneys to file proofs of claims on behalf of these creditors for the sole purpose of having the liens voided.” Commentary by Chapter 13 Trustee Jody Bledsoe, Eastern District of North Carolina.
Recent Developments in Chapter 12: Summary of December 1, 2017 Rules Changes – Part I
Last December’s amendment of the Bankruptcy Rules significantly affected Chapter 13 practice, but those changes also had an impact on Chapter 12 practice. Knowing that many Chapter 13 trustees also serve as their districts’ Chapter 12 trustees, Larry Ahern highlights the changes that apply to Chapter 12 and provides a cross-reference to a series of earlier articles, which provide more in-depth analyses in the context of Chapter 13, written with Beverly Burden, Standing Trustee for the Eastern District of Kentucky.
From the IRS
If you have clients in the military, this is important – you need to read . . . Could mean a significant amount of cash in their pockets . . .
Combat Zone Tax Benefits Now Available to Armed Forces Members Who Served in the Sinai Peninsula; IRS Accepting Retroactive Tax Refund Claims Back to 2015
New New U.S. Bankruptcy Judge
Eastern District of MichiganChapter 13 Trusteeship Opening
Southern District of Texas, Corpus Christi
Application Due Date: April 23, 2018Systems Engineer/Courtroom Technology Administrator
Bankruptcy Court, Western District of Virginia
Application Due Date: April 19, 2018Term Law Clerk
United States Bankruptcy Court, McAllen, TX
Application Due Date: Sep 1, 2018Term Law Clerk
U.S. Bankruptcy Judge Joseph Meier
Boise, ID
Application Due Date: May, 27, 2018
Eastern District of MichiganChapter 13 Trusteeship Opening
Southern District of Texas, Corpus Christi
Application Due Date: April 23, 2018Systems Engineer/Courtroom Technology Administrator
Bankruptcy Court, Western District of Virginia
Application Due Date: April 19, 2018Term Law Clerk
United States Bankruptcy Court, McAllen, TX
Application Due Date: Sep 1, 2018Term Law Clerk
U.S. Bankruptcy Judge Joseph Meier
Boise, ID
Application Due Date: May, 27, 2018
From the Supreme Court
Sanctions and Irony and Fraud, Oh My!
- Bernie Madoff’s Beachfront Mansion Is Selling for $21 Million– Currently owned by Vornado chairman Steven Roth
From Our Friends at NCBRC
Credit Cards and Signatures
For Your Blog
Just For Fun
Remember the days when lawyers were actually civil?Letter Exchange Between Law Firm and Cleveland Browns
In Case You Missed It . . .
Don’t Skimp on Service When Your Client’s House Is on the Line
“The issue stood out when, for reasons that are yet inexplicable, the trustee and my office each filed a Notice of Final Cure Payment with respect to the same loan on the same day.”
MORTGAGE MATTERS (Not password protected)
MBA: Mortgage Apps Decrease for Second Consecutive Week – Refi Apps Remain at Lowest Share Since 2008
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
FOR YOUR HEALTH (Not password protected)
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April 9, 2018
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Archives |
Welcome New Members: Michael Graml of Erie, PA, and Lawrence Young of York, PA.
Don’t Skimp on Service When Your Client’s House Is on the Line
“The issue stood out when, for reasons that are yet inexplicable, the trustee and my office each filed a Notice of Final Cure Payment with respect to the same loan on the same day.”
Response to ProPublica Article Discussing Racial Patterns in Bankruptcy Filings and Outcomes – Part 3 of 3
Part 3 of Attorney Hutchens detailed response looks at the possibilities of changing the Bankruptcy Code and ways to reduce the cost of filing bankruptcy.Click here for Part 1 of 3
Click here for Part 2 of 3New This Week: ProPublica’s ‘Too Broke for Bankruptcy’ Wins ASNE Award – The series showed that the bankruptcy system routinely fails those it is meant to aid.
Click here for Part 2 of 3New This Week: ProPublica’s ‘Too Broke for Bankruptcy’ Wins ASNE Award – The series showed that the bankruptcy system routinely fails those it is meant to aid.
New U.S. Bankruptcy Judge
Eastern District of MichiganChapter 13 Trusteeship Opening
Southern District of Texas, Corpus Christi
Application Due Date: April 23, 2018Systems Engineer/Courtroom Technology Administrator
Bankruptcy Court, Western District of Virginia
Application Due Date: April 19, 2018Term Law Clerk
United States Bankruptcy Court, McAllen, TX
Application Due Date: Sep 1, 2018Term Law Clerk
U.S. Bankruptcy Judge Joseph Meier
Boise, ID
Application Due Date: May, 27, 2018Chapter 7 Trusteeship Opening
Middle District of Georgia, Albany Division
Application Due Date: April 16, 2018
Eastern District of MichiganChapter 13 Trusteeship Opening
Southern District of Texas, Corpus Christi
Application Due Date: April 23, 2018Systems Engineer/Courtroom Technology Administrator
Bankruptcy Court, Western District of Virginia
Application Due Date: April 19, 2018Term Law Clerk
United States Bankruptcy Court, McAllen, TX
Application Due Date: Sep 1, 2018Term Law Clerk
U.S. Bankruptcy Judge Joseph Meier
Boise, ID
Application Due Date: May, 27, 2018Chapter 7 Trusteeship Opening
Middle District of Georgia, Albany Division
Application Due Date: April 16, 2018
There’s Always a Car
- The 0% Auto Loan Era Is Fading into America’s Rearview Mirror – Average rate has risen to highest since 2009, Edmunds says
Sanctions and Irony and Fraud, Oh My!
From Our Friends at NCBRC
From the CFPB
- Mortgage Servicing FAQs – The questions and answers pertain to compliance with Regulation X and Regulation Z, effective April 19, 2018.
Student Loan Chronicles
- How You Can Requalify for Public Service Loan Forgiveness – Student loan borrowers may have another shot at loan forgiveness thanks to a new law.
For Your Blog
- Midlife ‘Wealth Shock’ May Lead To Death, Study Suggests – Big financial loss may shorten your life, study suggests
In Case You Missed It . . .
IRS Claims in Cases Converted from Chapter 7 to Chapter 13 – Technically Not Allowed? (Spoiler: They Are Allowed)
Have you noticed a drop in claims from the IRS in converted cases? MORE IRS issues . . . read this then check your computer software.The article titled Crushing Tax Change For Injured Consumers By William J. Purdy, III, Simmons & Purdy (Soquel, CA) could have been titled IRS Double Dipping . . . Again. If you missed this article, you need to read it!
MORTGAGE MATTERS (Not password protected)
Article: NYC Foreclosures Continue to Climb to Near-Recession Highs – Staten Island, Brooklyn log major increases
Hot Item from Last Week: Article: Florida Passes Bill to Stop Bankruptcy Debtors From “Having Their Cake and Eating It Too”
MILITARY MATTERS (Not password protected)
Free house! Court Throws Out Iraq Vet’s Foreclosure After Bank Missed Deadline – An appellate panel’s decision allows a Central Islip couple to keep their home, ‘free and clear’ of its mortgage.
OF INTEREST (Not password protected)
Debt And The Economy (Not password protected)
America’s Debt Load Is Reaching a Tipping Point – Interest rates are likely to go up three times this year — making the cost of borrowing even more of a burden.
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April 2, 2018
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If you haven’t registered for NACTT Miami yet, why not?
Think it’s too hot? After the winter we’ve had, SUNSHINE sounds awesome.
Think the discounted deadline has passed? Think again . . . DISCOUNTED REGISTRATION EXTENDED THROUGH THIS FRIDAY (April 6th)
Think it’s too expensive? Think again . . .
Miami Cheap – Suggestions for Your Per Diem Dining Pleasure
The Fontainbleau Miami Beach Hotel has many excellent restaurants, and if you have a car, Miami is a foodie’s dream. This article is not about either of those options.This is about some of the less expensive food options that are within walking distance of the hotel.
IRS Claims in Cases Converted from Chapter 7 to Chapter 13 – Technically Not Allowed? (Spoiler: They Are Allowed)
Have you noticed a drop in claims from the IRS in converted cases? MORE IRS issues . . . read this then check your computer software.Last week’s article titled Crushing Tax Change For Injured Consumers By William J. Purdy, III, Simmons & Purdy (Soquel, CA) could have been titled IRS Double Dipping . . . Again. If you missed this article, you need to read it!
Response to ProPublica Article Discussing Racial Patterns in Bankruptcy Filings and Outcomes – Part 2 of 3
Part 2 of Attorney Hutchens response to ProPublica’s articles discussing racial patterns in bankruptcy filings focuses on ProPublica’s methodology and the fact that socio-economic conditions are the largest contributors to the disparities found by ProPublica, Not race. Click here for Part 1 of 3
Position Openings
Chapter 13 Trusteeship Opening
Southern District of Texas, Corpus Christi
Application Due Date: April 23, 2018
Southern District of Texas, Corpus Christi
Application Due Date: April 23, 2018
Systems Engineer/Courtroom Technology Administrator
Bankruptcy Court, Western District of Virginia
Application Due Date: April 19, 2018
Bankruptcy Court, Western District of Virginia
Application Due Date: April 19, 2018
Term Law Clerk
United States Bankruptcy Court, McAllen, TX
Application Due Date: Sep 1, 2018
Chapter 7 Trusteeship Opening
Middle District of Georgia, Albany Division
Application Due Date: April 16, 2018
Sanctions and Irony and Fraud, Oh My!
- Portland-Area Man Wins Reported Seven-Figure Whistleblower Settlement from Wells Fargo Formerly enslaved by the Khmer Rouge, Duke Tran lived the American dream until a big bank fired him.
- Personal Injury Attorney Reprimanded for Punching Man in Face (not bankruptcy related but a great headline)
- Lawyer Sanctioned $50K For Alleged ‘Inappropriate Diatribes’ And ‘Unhinged Attack’ On Expert (not bankruptcy related)
From the CFPB
- Mortgage Servicing FAQs – The questions and answers pertain to compliance with Regulation X and Regulation Z, effective April 19, 2018.
- RFIs – Each week since the end of January, the CFPB has (and will continue to) issued RFIs (Request for Information). ConsiderChapter13.org has not spotlighted these RFIs; however, if you are interested click here and scroll down for a listing of the RFI’s.
Student Loan Chronicles
- (This one is important) Consumer Bankruptcy Committee Issues Observations and Recommendations Re: Student Loans
For Your Blog
- Step-by-Step Instructions for Using the IRS Withholding Calculator – The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup.” This is even more important this year because of recent tax law changes.
In Case You Missed It . . .
ABI Commission on Student Loans
(This one is important) Consumer Bankruptcy Committee Issues Observations and Recommendations Re: Student Loans
MORTGAGE MATTERS (Not password protected)
CoreLogic: Home Prices Climbing
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
In re Blankenship (Chapter 7)
FOR YOUR HEALTH (Not password protected)
Particularly for those of you with teenagers . . .Juul’s So Cool, Kids Smoke It in School
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March 26, 2018
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Shout Out to the folks in Hot’lanta. The Academy is just back from the Southeastern Bankruptcy Law Institute. SBLI is a great regional conference with super fun attendees. ALEXA MARTINI from the Sellers Law Firm, LLC is the winner of a free subscription to ConsiderChapter13.org.
The Academy welcomes new members Vance Truman of Medina, OH; Dean Sutton of New Jersey; and Louise Harrell of Jackson, MS.
Response to ProPublica Article Discussing Racial Patterns in Bankruptcy Filings and Outcomes – Part 1 of 3
Back in September, ProPublica published two articles discussing racial patterns in bankruptcy filings. Their analysis considered statistics from across the country, but they focused on one judicial district in particular: the Western District of Tennessee. In this three part series, Law Clerk Ricky Hutchens examines, point by point, the reporters conclusions.
“Beyond all the legal and strategic reasons to choose Chapter 13 over Chapter 7, there is the debtor himself. Debtors are, after all, people.”
Crushing Tax Change For Injured Consumers
(Used with permission, originally published by BankruptcyMastery.com 2018)
“ . . . the vast bulk of all other legal recoveries ARE taxable under IRS Section 104. However, in the past, one could deduct the costs to obtain the award under the miscellaneous expense deduction.” But no more.
From Our Friends at Credit Slips
- Stormy Daniel’s Three-Way (Contract) & Donald Trump’s Performance Problem (Sorry folks, couldn’t resist this title)
Morgan King Live Event – San Francisco – May 4-6
Discharging IRS & State Taxes in Consumer & Small Business Cases
REGISTER NOW
In partnership with The Academy, Morgan King is offering a $200 discount to Academy members.
Please email Regina for the discount code. Register now to receive the conference hotel rate at the Marriott at Fisherman’s Wharf.
Varying Views of the Same Issue
- How Often Do Medical Problems Lead to Bankruptcy? Poor health is a less common cause of bankruptcy than commonly thought, but it brings other economic woes, study finds.
- Getting Sick Can Be Really Expensive, Even for the Insured – Beyond medical costs, a trip to the hospital can mean a permanent reduction in income for many Americans, new research shows
- February 2018 Study: American Economic Association: The Economic Consequences of Hospital Admissions
- June 2017 Study: The Economic Consequences of Hospital Admissions
Student Loan Chronicles
- (This one is important) Consumer Bankruptcy Committee Issues Observations and Recommendations Re: Student Loans
For Your Blog
In Case You Missed It . . .
CFPB Issues Final Rule Amendment Regarding Timing for Transition to Modified or Unmodified Periodic Statements
We are pleased to provide a synopsis of this final rule.Click here for Press Release (Not password protected)Click here for Final Rule Effective Date April 19, 2018 (Not password protected)
MORTGAGE MATTERS (Not password protected)
DEBT AND THE ECONOMY (Not password protected)
IN THE NEWS (Not password protected)
Debt Collectors Hijack Justice System – ‘It’s easier to settle when the debtor is under arrest’
OF INTEREST (Not password protected)
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
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March 19, 2018
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Section 105 and Lack of Good Faith
Trustee Langehennig takes a look at cases post Marrama.
CFPB Issues Final Rule Amendment Regarding Timing for Transition to Modified or Unmodified Periodic Statements
We are pleased to provide of synopsis of this final rule.
Click here for Press Release (Not password protected)
Click here for Final Rule Effective Date April 19, 2018 (Not password protected)
Morgan King Live Event – San Francisco – May 4-6
Discharging IRS & State Taxes in Consumer & Small Business Cases
Some of What You Will Learn:
- Which transcripts to get, understanding tax transcripts, transcript red flags
- What is a “tax return”?
- Tax evasion & fraud
- How to interview the clientand communicate with the IRS
- The problems of using automated online tax discharge analysis
- Marketing & building your tax solution practice
- Stripping tax liens
- Litigating tax issues in bankruptcy court
- Non-bankruptcy solutions (OIC, CDPA)
In partnership with The Academy, Morgan King is offering a $200 discount to Academy members.
Please email Regina for the discount code. Register now to receive the conference hotel rate at the Marriott at Fisherman’s Wharf.
From the Academy Archives
Planning for Attorney Disability or Death
Back in ‘09, now retired Judge Pat E. Morgenstern-Clarren (N.D. Ohio) brought Academy members a great reminder that the only certainty in life is that there are no certainties.This article on planning for your future is still just as relevant today.
Do you have a plan for your practice if you become disabled? What will happen to your clients if you suddenly pass away?
TAKE THE TIME NOW – MAKE A PLAN.
From the U.S. Courts
U.S. Bankruptcy Courts – Judicial Business 2017
Nationwide, debtors filed 790,830 bankruptcy petitions in 2017, 2% fewer than in 2016. Lowest total since 2007, which was the first full fiscal year after BAPCPA.
Women’s History Month
Senior Judge Carolyn Dimmick (U.S. District Court, W.D. of WA) earned her law degree in 1957 when female lawyers and their opportunities were rare.In honor of Women’s History Month, a new video profile explores the highlights and challenges of Judge Dimmick’s groundbreaking and highly distinguished career.
From the U.S. Courts
Judicial Conference Receives Status Report on Workplace Conduct Review – Nearly 20 reforms and improvements have been implemented or are under development to help address workplace conduct concerns in the federal judiciary.
Academy Members Inducted into American College of Bankruptcy – Congratulations to Judges Flatley and Waites
From the IRS
Winter Storm Extension: Many Businesses Have Extra Time To Request A 6-Month Extension – 3/13/18 IRS granted businesses affected by severe winter storms additional time to request six-month extension to file their 2017 federal income tax returns.
Student Loan Chronicles
- ‘Morally Suspect’ Way the Government Collects Student Loans – A tax credit aimed at helping working low and moderate-income Americans can be seized to repay defaulted student loans
Sanctions and Irony and Fraud, Oh My!
- Dance Moms Star Abby Lee Miller Set for Early Release from Prison… After Being Sentenced to a Year Behind Bars for Bankruptcy Fraud
For Your Blog
If you haven’t warned your readers about IRS/tax scams, please do so. This is happening in every community. Below are a few links you may be interested in sharing.
In Case You Missed It . . .
The Law of Unintended Consequences
We Don’t Need No Stinkin’ Objections Part 2 of 2
A recent decision struggles with the effect on Chapter 13 on the special protections given to “title pawn” creditors by state law. The purpose of this commentary is to analyze the case and identify some unintended consequences of the decision. In Part I, Larry Ahern reviewed the majority’s opinion. This week, in Part II, he discusses some consequences of the decision, which may not have been intended by the majority.Click here for Part 1
MORTGAGE MATTERS (Not password protected)
IN THE NEWS (Not password protected)
Odd title but important article: Bankruptcy Court Reluctantly Allows Creditor To Shuck “Lil’ Sweet Pea” Accounts
OF INTEREST (Not password protected)
Winn-Dixie Closing Almost 100 Stores as Part of Bankruptcy Filing — see if your store is on the list
Amazon Didn’t Kill Toys ‘R’ Us – Here’s what did
MILITARY MATTERS (Not password protected)
JUST INTERESTING (Not password protected)
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March 12, 2018
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The Law of Unintended Consequences
We Don’t Need No Stinkin’ Objections Part 2 of 2
A recent decision struggles with the effect on Chapter 13 on the special protections given to “title pawn” creditors by state law. The purpose of this commentary is to analyze the case and identify some unintended consequences of the decision. In Part I, Larry Ahern reviewed the majority’s opinion. This week, in Part II, he discusses some consequences of the decision, which may not have been intended by the majority. Click here for Part 1
IRS Caught Double Dipping
Apparently, Attorney Moran’s article was an eye opener. This article has broken all previous ConsiderChapter13.org unique open records.YOU NEED TO SEE THIS ONE . . .Not an Academy member, JOIN NOW – Use the form attached and receive THREE months completely free.
If you read the article last week, be sure to check out the comments at the bottom of the page. Ms. Moran has added information regarding a related case.The Academy has also heard from Academy member Jeanne E. Hovenden of Chesterfield, Virginia, who reports catching the same issue in a case!
Let us know if you have seen this same issue.
From the CFPB
CFPB Giving Servicers “More Latitude” in Dealing with Borrowers in Bankruptcy – Issues Final Rule on Communication with Certain Borrowers
Click here for Press Release
Click here for Final Rule
Effective Date April 19, 2018
Credit Cards in the News
From the U.S. Courts
Just the Facts: Consumer Bankruptcy Filings, 2006-2017
In the 12-year span from October 1, 2005 to September 30, 2017, about 12.8 million consumer bankruptcy petitions were filed in the federal courts. Of those, 8.7 million–68 percent–were filed under Chapter 7, and 4.1 million– 32 percent–were filed under Chapter 13 (see Table 1).
Life in the Sweatbox
Professors Foohey, Lawless, Porter, and Thorne are at it again. Their latest study has just been released.The study looks at “The time before a person files bankruptcy is sometimes called the financial “sweatbox.” Using original data from the Consumer Bankruptcy Project, we find that people are living longer in the sweatbox before filing bankruptcy than they have in the past. We also describe the depletion of wealth and well-being that defines people’s time in the sweatbox.”
From the NCLC
The National Consumer Law Center has made some really cool info available . . . free: Consumer Protection in the States: A 50-State Evaluation of Unfair and Deceptive Practices Laws
Appendix C is a State-By-State Summary of State Unfair and Deceptive Practices Statutes
How Chicago Ticket Debt Sends Black Motorists into Bankruptcy
NEW ON THIS ISSUE THIS WEEK
- She Owed $102,158.40 in Unpaid Tickets, but She’s Not in the Story – Still, we want to tell you a little bit about her, and about some of the other people we interviewed, because they helped inform our ticket debt investigation.
- Florida Legislature Votes to Ease Payday Loan Restrictions – Florida may ease some of the restrictions now in place for so-called payday loans.
From the Supreme Court
From the IRS
Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law
Click here for new calculator
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
- Wife of Mamtek’s Cole Shut Down by Judge Dow* During Court Hearing (*Judge Dow will be joining the esteemed list of speakers at the NACTT 2018 seminar in Miami!) REGISTER NOW
MORTGAGE MATTERS (Not password protected)
Article: Home Purchases Post Bankruptcy
Article: When Your Home Is Your…Car
MBA Article: Lending Standards Tightening
Black Knight Article: Affordability Threatened with Increased Rates
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
Customers Ripped Off by Wine Store Now Being Sued – Customers had to beg and threaten the wine store for refunds; now a bankruptcy trustee is suing them to get the money back
MILITARY MATTERS (Not password protected)
‘We Took a Broken System and Just Broke It Completely’ – Trump touted a project to make veterans’ health care seamless, but some doctors say it’s a disaster.
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March 5, 2018
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Archives |
IRS Caught Double Dipping
Let us know if you have seen this same issue.
Special Counsel and Chapter 13 Bankruptcy
“So, you think the Bankruptcy Code does not impact your practice.”NOT PASSWORD PROTECTED. This a great resource to share with your non-bankruptcy colleagues about how the Bankruptcy Code intertwines with their area of the law.
Mullins Retires
Life in the Sweatbox
Professors Foohey, Lawless, Porter, and Thorne are at it again. Their latest study has just been released.The study looks at “The time before a person files bankruptcy is sometimes called the financial “sweatbox.” Using original data from the Consumer Bankruptcy Project, we find that people are living longer in the sweatbox before filing bankruptcy than they have in the past. We also describe the depletion of wealth and well-being that defines people’s time in the sweatbox.”
Vacant Judgeship
Big News from the Department of Education on Student Loans
Responses must be received by May 22, 2018
Click here for Comment Portal
In Case You Missed It . . .
How Different Are Millennials from Their Parents and Grandparents? TransUnion Report Decodes Millennials’ Financial Health
A recent TransUnion report evaluated Millennials as consumers, focusing on their credit participation and performance, ability to manage debt and expenses, and financial planning trends. Ms. Wisenberg summaries this 25-page study.
MORTGAGE MATTERS (Not password protected)
Article: Ocwen To Acquire PHH Mortgage
Article: Home Sales Tank in January
Article: Home Prices Leveling Off??
DEBT AND THE ECONOMY (Not password protected)
IN THE NEWS (Not password protected)
Break Up the Credit-Reporting Racket – Why do three companies control Americans’ most sensitive personal information? There’s no good answer to that question.
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
This is the kind of study I like: Alcohol and Coffee Can Help You Live Past 90, Study Says
