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August 19, 2019
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Win Now, Wreck Later: A Tale of Bankruptcy and Mortgage Servicing
2019 Legislation Affecting Bankruptcy Practice
Chapter 12 and Act2/Conference Update
“The presentations and materials are a great start for someone just getting into chapter 12, and for those more experienced practitioners the conference provided a chance to sharpen some skills and get up to date on the latest in Chapter 12.”
This article contains valuable information about materials and the Act2 officers.
Farmers in the News
Drummond Receives Professionalism Award
ABI Commission on Consumer Bankruptcy
Recommendations Related to Exemptions
Post-Petition Changes in Value
A Chapter 7 Trustee’s Sale of Encumbered Property
Judicial Estoppel
Statement of Intention: Deadlines and Consequences
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
Definition of “Tax Return” for Purposes of Nondischargeability
From the IRS
- Taxpayers with Expiring ITINs Should Renew Them Now
Nearly 2 million ITINs will expire on December 31, 2019. If your practice is geographically in a high immigration area, you need to read this. Per immigration expert Richard J. Parker, Esq. of Parker, Butte & Lane, P.C. in Portland, Oregon, “They are most commonly used by people who have requested waivers and so do not have work authorization. It would generally be seen as the spouse of a US Citizen so that a joint tax return can be filed.”
See also, related article: Not Born in the USA? The Perils of Bankruptcy Filings by Undocumented Persons
Student Loan Chronicles
- ‘Severely Derogatory’: U.S. student debt defaults have ‘grown stunningly’
Student Loan Chronicles Part B
CFPB Settles Lawsuit Against ITT Educational Services
The Complaint, filed in the U.S. District Court for the Southern District of Indiana in 2014, alleges that ITT helped to create private loan programs for students at ITT Technical Institute, the school run by ITT until it filed for bankruptcy and ceased operations in 2016. The Bureau alleges that ITT improperly induced students to take out those loans to pay the tuition amounts not covered by loans or other tuition assistance from the federal government. The Bureau’s complaint also alleges that ITT knew the student borrowers did not understand the terms and conditions of the loans and could not afford them, resulting in high default rates and other negative consequences.
The terms of the proposed stipulated order include, among other things, a judgment against ITT for $60 million and an injunction prohibiting ITT from offering or providing student loans in the future.
In a separate action filed by the Bureau on June 14, 2019, a final stipulated judgment was entered against the entity holding the private loans at issue, Student CU Connect CUSO, LLC. Under the terms of that judgment all collection on such loans must cease, all outstanding loans must be discharged, and all negative credit reporting must be corrected.
See also:
U.S. Regulator Settles Lawsuit Against ITT Educational, Will Not Collect $60 Million
Sanctions and Irony and Fraud, Oh My!
Score One for the United States Bankruptcy Court in the Service of the African America Community
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August 12, 2019
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Archives |
Score One for the United States Bankruptcy Court in the Service of the African America Community
Don’t forget to complete your NACTT Indy Evaluation
NACTT Indianapolis EVALUATION TIME – Attention NACTT Indy Attendees: Your Voice is Important
Post-Petition Causes of Action, Inheritances and Windfalls Are Property of the Estate and Must Be Reported to the Trustee – Part 5 of 5
ABI Commission on Consumer Bankruptcy – Recommendations Related to Exemptions
NEW – Commission Member Hildebrand continues looking individually at the recommendations of the Commission.“Applying that convoluted mechanism, debtors get to assert the exemptions of the state in which they reside or, in several jurisdictions that did not ‘opt out’ of the federal exemptions, unless the debtor has moved to that jurisdiction within two years of filing of the bankruptcy petition.”
See also previous recommendations:
Post-Petition Changes in Value
A Chapter 7 Trustee’s Sale of Encumbered Property
Judicial Estoppel
Statement of Intention: Deadlines and Consequences
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
Definition of “Tax Return” for Purposes of Nondischargeability
Farmers in the News
Important CFPB Settlement
“Clearly and Prominently:” Consumer Debt Settlement Disclosures in Wake of CFPB v. Freedom Debt Relief
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
- CFPB and the New York A.G. Settle with Debt Collection Group Douglas MacKinnon, Northern Resolution Group, LLC, Enhanced Acquisitions, LLC, Delray Capital, LLC, and Mark Gray
For Your Blog
- Judges Explain Rule of Law, Why It Matters
What does the rule of law mean, and how does it affect our daily lives?This five minute “Court Shorts” video, explains how fair and consistent adherence to the law protects our rights and well-being in everyday situations like buying a breakfast sandwich, reading mail, and investing in the stock market. Definitely not our ‘normal’ For Your Blog option but a short, interesting reminder of why ‘the Rule of Law’ is important.
IN CASE YOU MISSED IT . . .
Forced Vesting by Any Other Name – Just Might Work
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August 5, 2019
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Archives |
Forced Vesting by Any Other Name – Just Might Work
NACTT Indianapolis EVALUATION TIME – Attention NACTT Indy Attendees: Your Voice is Important
Thank you for your recent participation at the NACTT Indianapolis 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 2020 San Diego Seminar. We look forward to seeing you there next year. Mark your calendar NOW – July 8-11, 2020.
Post-Petition Causes of Action, Inheritances and Windfalls Are Property of the Estate and Must Be Reported to the Trustee – Part 4 of 5
Hot Off the Press – Judgment and Memorandum Opinion
Mortgage servicer was not required to specifically state on its proof of claim that it was servicing the loan on behalf of Freddie Mac. Nor was it necessary for there to be a specific endorsement of the Note or an assignment of the Mortgage to Freddie Mac. The servicer was in physical possession of the Note with an affixed endorsement in blank, and was therefore the holder of a negotiable instrument under the Alabama Uniform Commercial Code. Accordingly, the servicer had standing to file a proof of claim in the Debtors’ Chapter 13 case and to enforce the Note. Furthermore, the post-petition assignment of the Mortgage was not a violation of the automatic stay or an avoidable transfer. Moreover, under Eleventh Circuit law, the Debtors did not have standing to challenge the assignment of their Mortgage.
The Court further found that the Debtors (i) failed to establish by competent evidence that the servicer made any misrepresentations either pre-petition or during the post-petition loan modification process regarding the servicer’s ability to foreclose, (ii) failed to establish that the servicer’s proof of claim was materially defective, and (iii) failed to establish that their loan modification agreement was unenforceable.
Stop and Smell the . . . Well, Corn
I stop and visit with folks a lot. (Surprise…) I had an encounter this year that I found meaningful. It greatly reminded me of my days of representing farmers in 12s and 11s. And it made me stop for a moment and think about how we, as trustees, interact with debtors and how, for the most part, they are just case numbers to us. But they all have stories.Farmers in the News
- House Passes Chapter 12 Farmer Bankruptcy Relief Bill – Bipartisan bill raises debt limit cap to $10 million.
- Farm Loan Delinquencies and Bankruptcies Are Rising – Farm Bankruptcy Filings Rise 13%
- Trump’s $16 Billion Farm Bailout Designed to Help Farmers Hit in Trade War – But report says it will make rich farmers richer.
Safe Deposit Boxes
- Unclaimed Property (a second article about safe deposit boxes and how they become unclaimed property in states’ coffers)
An Oldie But a Goodie – Original Publication 12/9/18
Watch the Clock – Timing of Appeals
From the National Consumer Bankruptcy Rights Center
Student Loan Chronicles
Thousands of Scammed Student-Loan Borrowers Filed Claims for Debt Relief – the feds haven’t approved any in over a year
Sanctions and Irony and Fraud, Oh My!
- Facebook Lost Control of Our Data. Now paying record $5 billion fine
For Your Blog
Have a Capital One Credit Card? Then take these 5 steps
IN CASE YOU MISSED IT . . .
A Well-Deserved Thank You to Attorneys Who Represent Debtors . . .
Ordinary Heroes Deliver Second Chances with Bankruptcy
“With your help, a mother or father can enjoy their child’s soccer game without fear that a tow truck might show up at the game and take their car, or show up at their door when they have guests or a myriad of other embarrassing situations.”
Be sure to check-out the NEW comments at the end of this article.
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July 29, 2019
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A Well-Deserved Thank You to Attorneys Who Represent Debtors . . .
Ordinary Heroes Deliver Second Chances with Bankruptcy
Post-Petition Causes of Action, Inheritances and Windfalls Are Property of the Estate and Must Be Reported to the Trustee – Part 3 of 5
Meet A Newish Trustee
From the IRS
IRS Attempting to Collect on Virtual Currency
From the Judiciary
Student Loan’ify
New Bankruptcy Program Seeks to Help People Saddled with Student Debt; 2.4 Million Floridians Owe $85.5 Billion
Save the Date: September 25, 1:00 eastern WEBINARSee also:
From the Courts
- In case you missed this . . . United States Department of Justice Executive Office for United States Trustees Report to Congress: Criminal Referrals by the United States Trustee Program Fiscal Year 2018
From the National Consumer Bankruptcy Rights Center
City Did Not Violate Stay by Failing to Rescind Warrant
Student Loan Chronicles
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July 22, 2019
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Due to the Annual NACTT Conference, Shout Out to NACTT Indianapolis Attendees. |
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NEW – Post-Petition Causes of Action, Inheritances and Windfalls Are Property of the Estate and Must Be Reported to the Trustee – Part 2 of 5
A very popular article from last week . . .
Unscheduled Creditor May Not File a Late Proof of Claim
Unscheduled creditor without notice of the bankruptcy case was denied an extension of time to file a proof of claim pursuant to Bankruptcy Rule 3002(c)(6)(A).More from this author:
Tips and Traps: Issuing A Subpoena for Bank Records
Complete Termination of The Automatic Stay Under §362(c)(3)(A) According to the First Circuit
Trustee May Use Any Law Available to Avoid a Transfer
ABI Commission on Consumer Bankruptcy – Post-Petition Changes in Value
From the UST
For Your Blog
Successful Side Hustlers Share Their Best Secrets
Sanctions and Irony and Fraud, Oh My!
- (A popular link from last week) This Is Where Robocalls Are Coming From (And Where They Are Targeting)
IN CASE YOU MISSED IT . . .
Court Supervised Student Loan Modification
“The Order provides for use of online software to assist Debtors with student loan repayment options.”See also original article: Teaching Old Dogs New Tricks: New Ideas for Treatment of Student Loans in Bankruptcy
Watch for a webinar on this topic in September!!
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July 15, 2019
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Archives |
Unscheduled Creditor May Not File a Late Proof of Claim
Post-Petition Causes of Action, Inheritances and Windfalls Are Property of the Estate and Must Be Reported to the Trustee – Part 1 of 5
ABI Commission on Consumer Bankruptcy – Post-Petition Changes in Value
Another issue concerns Chapter 7 trustees who would not take prompt action to abandon exempt or partially exempt assets but, would retain assets in the hope that there might be equity in the future to sell the asset for the full lien amount and exemption. In doing so, the trustee delays the debtor’s ability to use the asset as part of the fresh start.
See also previous recommendations:
A Chapter 7 Trustee’s Sale of Encumbered Property
Judicial Estoppel
Statement of Intention: Deadlines and Consequences
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
Definition of “Tax Return” for Purposes of Nondischargeability
From the Courts
- United States Department of Justice Executive Office for United States Trustees Report to Congress: Criminal Referrals by the United States Trustee Program Fiscal Year 2018
Chapter 12/Farmers in the News
- House Judiciary Committee Advances Farmer Bankruptcy Assistance – Bill expands debt cap to be covered under Chapter 12 bankruptcy to $10 million.
From the National Consumer Bankruptcy Rights Center
Debt for Overpayment of DSO Not Itself DSO
Student Loan Chronicles
Broken Promises: Teachers Sue U.S. Over Student Loans That Weren’t Forgiven
For Your Blog
- Secrets to Credit Score Success – How to keep track of your score, get it as high as possible—and keep it that way
Sanctions and Irony and Fraud, Oh My!
- Biggest Complaints About Debt Collectors – 6 ways a debt collector may be breaking the law
- Struggling to Pay Student Loans? You could be targeted by scammers
IN CASE YOU MISSED IT . . .
Court Supervised Student Loan Modification
“The Order provides for use of online software to assist Debtors with student loan repayment options.”
See also original article: Teaching Old Dogs New Tricks: New Ideas for Treatment of Student Loans in Bankruptcy
MORTGAGES AND DEEDS OF TRUST (Not password protected)
OF INTEREST (Not password protected)
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July 8, 2019
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Critical Case Comment
Court Supervised Student Loan Modification
“The Order provides for use of online software to assist Debtors with student loan repayment options.”
See also original article: Teaching Old Dogs New Tricks: New Ideas for Treatment of Student Loans in Bankruptcy
ABI Commission on Consumer Bankruptcy – A Chapter 7 Trustee’s Sale of Encumbered Property
The Commission heard from several individuals and attorneys that related tales of Chapter 7 trustees negotiating a “carve out” with a lienholder on the debtor’s real property when there was no equity available in the property. This article addresses the Commission’s recommendations regarding prevention of such “carve out.”
Click here to register for the NACTT conference
See also:
Judicial Estoppel
Statement of Intention: Deadlines and Consequences
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
Definition of “Tax Return” for Purposes of Nondischargeability
From the United States Courts
Judiciary Creates Public User Group for PACER
Farmers in the News
- Relief Urged for Family Farmers Facing Bankruptcy – Legislation would ease process of reorganizing debt through Chapter 12 bankruptcy rules.
Don’t register – just show up for the Chapter 12 conference July 15-16 in Indianapolis. Click here for more information.
On the Judiciary
Balls and Strikes: New Bankruptcy Court Chief Judge is also a hall of fame baseball umpire
Student Loan Chronicles
- Student Loan Borrowers with Cancer Are Supposed to Get a Break from Their Bills. That’s not happening – More than nine months after the law took effect, borrowers still can’t get the cancer deferment.
For Your Blog
- Student Debt Relief Phone Calls: Playing nice or simply scams?
- Savvy Senior: Can a debt collector take my Social Security benefits?
IN CASE YOU MISSED IT . . .
What IS a Principal Residence?
IN THE NEWS (Not password protected)
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July 1, 2019
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Happy Independence Day |
In re Fulton: Seventh Circuit Affirms Its Position with Majority of Circuits on Passive Retention of Property as Violation of Sections 362 and 542
What IS a Principal Residence?
From the United States Courts
Judiciary Creates Public User Group for PACER
ABI Commission on Consumer Bankruptcy – Judicial Estoppel
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
Definition of “Tax Return” for Purposes of Nondischargeability
Farmers in the News
Ohio Farmland Underwater – Big Trouble for Corn Industry
OLD Cases
See also previous Academy article:
I Win. I Win. Trustee Holds Record for Having the Oldest Open Chapter 13 Case
By Helen M. Morris, on April 7th, 2019
Student Loan Chronicles
For Your Blog
7 Keys to Keeping Your House: Chapter 13 After You File
IN CASE YOU MISSED IT . . .
The Brunner Student Loan Hardship Test: Alive and Well in The Big Apple
IN THE NEWS (Not password protected)
MORTGAGES AND DEEDS OF TRUST (Not password protected)
OF INTEREST (Not password protected)
(free access to Academy subscribers)
DEBT AND THE ECONOMY (Not password protected)
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How do you measure up??
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June 24, 2019
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Archives |
The Brunner Student Loan Hardship Test: Alive and Well in The Big Apple
Marijuana in Bankruptcy
That Didn’t Take Long: Ninth Circuit’s Cannabis Bankruptcy Decision in Garvin v. Cook Invs. NW is Challenged
By Gretchen D. Holland, Standing Chapter 13 Trustee for the Greenville/Spartanburg Division of South CarolinaAlthough this article is about a Chapter 11 case, it has Chapter 13 implications because the confirmation requirement that a plan be “proposed in good faith and not by any means forbidden by law” is identical in both chapters.
In the Trenches: Secrets to Settlement – Competency in the Courtroom Part 3 of 3
ABI Commission on Consumer Bankruptcy – Statement of Intention: Deadlines and Consequences
“The Commission recommends a harmonization of the conflicting provisions of the Code.”At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice.Click here to register for the NACTT conferenceSee also:Student Loans – Suggested Statutory ChangesStudent Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
Definition of “Tax Return” for Purposes of Nondischargeability
From the National Consumer Bankruptcy Rights Center
A big decision from the 7th Circuit . . .
Reverse Mortgages in the News
- USA Today Blasts Reverse Mortgages, Industry Fights Back – Trade association says reporters jumbled the facts, skimmed over rule changes
Sanctions and Irony and Fraud, Oh My!
- SEC, FBI Reportedly Investigating Live Well Financial Collapse – Creditors’ court documents say authorities are looking into defunct lender and its CEO
- Quicken Loans Agrees to Pay $32.5 Million to Resolve FHA Loan Allegations with DOJ – Mediation finally brings 4-year battle over False Claims Act violations to an end
- Amid Fraud Case, A Bevy of Brooklyn Properties End Up in Bankruptcy Court – Two accused fraudsters and a mysterious real estate investor are linked in a recent series of Chapter 11 filings
Student Loan Chronicles
For Your Blog
Millions of ITINs Set to Expire in 2019; IRS Says Renew Early to Prevent Refund Delays
IN CASE YOU MISSED IT . . .
No Take Backs – Critical Case Comment
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June 17, 2019
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Shout Out to the GREAT folks at Even with the rain, it was a great conference. |
Critical Case Comment
Supreme Court Stakes Out Middle Ground on Contempt Standard for Discharge Injunction Violations, Leaves Clues About Automatic Stay Violations
In the Trenches: Secrets to Settlement – Competency in the Courtroom Part 2 of 3
About the Judiciary
- Public Notice Asking for Comments: Potential Reappointment of Judge Laurel Myerson Isicoff as Chief U.S. Bankruptcy Judge for Florida Southern District
From the National Consumer Bankruptcy Rights Center
Rooker-Feldman Bars Motion to Vacate
Positions Open
Location: Eastern District of California (primarily Sacramento and Modesto) and District of Nevada
Application Due Date: June 21, 2019Chapter 7 Trusteeship Open
Location: District of New Jersey, primarily in the Newark and Camden Vicinages
Application Due Date: June 30, 2019
Student Loan Chronicles
For Your Blog
IN CASE YOU MISSED IT . . .
Substantial Contribution Claims
“Statutes ought to be construed, if possible, so that no clause, sentence, or word shall be superfluous, void, or insignificant.”The second issue at hand in this year’s Duberstein moot court problem involves a matter of statutory interpretation—specifically, whether §503(b) of the Bankruptcy Code allows a creditor to recover costs and expenses incurred in making a substantial contribution to the bankruptcy estate in a case under chapter 7.See also: Passive Retention: A Creditor’s Right or an Act to Exercise Control?
As reported in March, we are pleased to publish articles written by law students who benefited from the grant money provided by the National Data Center.
IN THE NEWS (Not password protected)
MORTGAGES AND DEEDS OF TRUST (Not password protected)
OF INTEREST (Not password protected)
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June 10, 2019
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In the Trenches: Secrets to Settlement – Competency in the Courtroom Part 1 of 3
Substantial Contribution Claims
“Statutes ought to be construed, if possible, so that no clause, sentence, or word shall be superfluous, void, or insignificant.”The second issue at hand in this year’s Duberstein moot court problem involves a matter of statutory interpretation—specifically, whether §503(b) of the Bankruptcy Code allows a creditor to recover costs and expenses incurred in making a substantial contribution to the bankruptcy estate in a case under chapter 7.See also: Passive Retention: A Creditor’s Right or an Act to Exercise Control?By John Andreasen and Patrick Lombardi, Law Students at the University of Illinois College of Law and Duberstein Moot Court Team MembersAs reported in March, we are pleased to publish articles written by law students who benefited from the grant money provided by the National Data Center.
From the IRS
All Taxpayers Should Plan Ahead for Natural Disasters
- Update emergency plan
- Create electronic copies
- Document valuables
Farmers in the News
Auctioneers have an up-close view of the pain behind the dairy crisis. They see no sign of better times to come.There is still time to register for the Chapter 12 conference July 15-16. Click here for more information.
ABI Commission on Consumer Bankruptcy – Definition of “Tax Return” for Purposes of Nondischargeability
“So, a critical question has arisen: what is a “return” and when is it too late to file one?”At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the NACTT conference.See also:Report of the ABI’s Commission on Consumer BankruptcyReport – Introduction
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
From the Supreme Court
Supreme Court Declines to “Vaporize” Licensee’s Rights Under Rejected Trademark License Agreement
Sanctions and Irony and Fraud, Oh My!
- Workers Left With No Paychecks – Bankrupt Dexter Book Manufacturer Sold
- Contractor Loses License, Files Bankruptcy — Again. Customers say they were ripped off.
Student Loan Chronicles
- High-Earning Millennials Have a Surprising Student Debt Problem – You might think that HENRYs (High Earners, Not Rich Yet) would be doing just fine after college, but they’re in serious debt just like most other new grads. In fact, in some ways, they face a few added challenges.
IN CASE YOU MISSED IT . . .
Surrender of Collateral in a Plan- What Is the Court to Do if the Debtor Doesn’t Follow Through?
IN THE NEWS (Not password protected)
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June 3, 2019
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Critical Case Comment
Surrender of Collateral in a Plan- What Is the Court to Do if the Debtor Doesn’t Follow Through?
New Bankruptcy Judge Appointed to Bench
See also: Honorable Andrea K. McCord (from 2018)
Bankruptcy Judge Appointed to District Seat
ABI Commission on Consumer Bankruptcy – Definition of “Tax Return” for Purposes of Nondischargeability
“So, a critical question has arisen: what is a “return” and when is it too late to file one?”At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the NACTT conference.See also:Report of the ABI’s Commission on Consumer BankruptcyReport – Introduction
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Dischargeability of Homeowner Association Fees
From the Supreme Court
Sanctions and Irony and Fraud, Oh My!
- CFPB Claims Debt Collection Firm Forster & Garbus Robo-Sued Thousands on Behalf of Citibank, Discover, Others – Attorneys allegedly reviewed cases for only minutes before signing off on lawsuits
Student Loan Chronicles
- Black Borrowers More Likely to Fall Behind on Student Debt – Federal Reserve report highlights extent of debt burden on minority communities
- Can Data Ward Off College Debt? – There’s a Push to Show Which Majors Pay Off
IN CASE YOU MISSED IT . . .
A Confirmed Plan with a Marijuana Wrinkle
IN THE NEWS (Not password protected)
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May 27, 2019
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Archives |
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In Memory of All Who Gave All |
(In observance of Memorial Day, we bring you an abbreviated updated.)
Supreme Court Agrees to Revisit Finality of Orders in Bankruptcy
This week, Larry Ahern addresses the May 20 writ of certiorari in Ritzen Group, Inc. v. Jackson Masonry, LLC (In re Jackson Masonry, LLC), in which the Supreme Court is to decide whether an order denying relief from the automatic stay is “final.” Ahern considers the broader context in which the federal judiciary struggles with finality in bankruptcy proceedings.
Hildebrand headed to the Supreme Court . . . no, not that one . . . in a fun twist to those of us in the consumer bankruptcy world, the next generation – Henry E. “Ned” Hildebrand, IV – represents Jackson Masonry.
Postpetition Borrowing by a Consumer Debtor in Chapter 13
“Although our Nation’s bankruptcy laws are uniform, chapter 13 practice in our Nation’s bankruptcy courts varies to a significant extent in the different judicial districts. One example of this variation is the treatment of postpetition borrowing by a consumer debtor in chapter 13.”
In this Part 1, Judge Fagone and Ciera Dye outline the statutory framework as well as the caselaw.
In this Part 2, Judge Fagone and Ciera Dye look at policy considerations.
Behind on the ABI Commission articles, take this opportunity to catch up.
ABI Commission on Consumer Bankruptcy – Dischargeability of Homeowner Association Fees
As most of you know, the ABI Board of Directors charged the Consumer Commission with recommending improvements to the consumer bankruptcy system which could be “implemented within its existing structure.”In this installment, Trustee Hildebrand looks at suggested changes in dealing with HOA fees.
“While HOA fees and assessments serve a valid purpose, when a debtor seeks to obtain a fresh start, often HOA fees can become a substantial obstacle to that goal.”
At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the NACTT conference.
See also:
Report of the ABI’s Commission on Consumer Bankruptcy
Report – Introduction
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Student Loan Chronicles
- What’s Scarier Than Student Loans? Welcome to the World of Subprime Children – Income share agreements sound like a better deal than today’s student loans, but what will they do to society?
IN CASE YOU MISSED IT . . .
How Guarantors Can Escape Tax on Soured Debt
Tax lawyer Bill Purdy and Cathy Moran shared a client with a small interest in a failed corporation with a huge SBA loan. Could our client escape the tax consequences should we be able to settle his liability on a million dollars in unpaid loan. Was the client looking at a million dollars of cancellation of debt income? Here’s the marvelous result that Bill’s caper through the IRS regs returned.See also:Tax Form 1099 Needs A Closer Look: Chances Are It’s WrongMORTGAGES AND DEEDS OF TRUST (Not password protected)
OF INTEREST (Not password protected)
FOR YOUR HEALTH (Not password protected)
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May 20, 2019
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Archives |
A Confirmed Plan with a Marijuana Wrinkle
How Guarantors Can Escape Tax on Soured Debt on Soured Debt
Tax lawyer Bill Purdy and Cathy Moran shared a client with a small interest in a failed corporation with a huge SBA loan. Could our client escape the tax consequences should we be able to settle his liability on a million dollars in unpaid loan. Was the client looking at a million dollars of cancellation of debt income? Here’s the marvelous result that Bill’s caper through the IRS regs returned.
See also: Tax Form 1099 Needs A Closer Look: Chances Are It’s Wrong
ABI Commission on Consumer Bankruptcy – Dischargeability of Homeowner Association Fees
As most of you know, the ABI Board of Directors charged the Consumer Commission with recommending improvements to the consumer bankruptcy system which could be “implemented within its existing structure.”
In this installment, Trustee Hildebrand looks at suggested changes in dealing with HOA fees.
“While HOA fees and assessments serve a valid purpose, when a debtor seeks to obtain a fresh start, often HOA fees can become a substantial obstacle to that goal.”
At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the NACTT conference.
See also previous articles:
Report of the ABI’s Commission on Consumer Bankruptcy
Report – Introduction
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
Remedies for Discharge Violation
Ditech in the News
- Mortgage Borrowers Win Protection in Ditech Bankruptcy, Ditech Fights Back – New York court must rule on Ditech’s objection
See also: Webinar: Ditech – What Consumer Bankruptcy Folks Need to Know
From the UST
Multiple Chapter 7 Trustees Wanted
From the IRS
Tax Tips for Taxpayers to Consider When Selling Their Home
From the CFPB
CFPB Gearing Up to Further Relax HMDA and Possibly Other Rules
Farmers in the News
- Illinois Farmer to Trump on China Trade War: “Farmers are the ones that are taking it on the jaw”
Student Loan Chronicles
- Who’s at Fault for Student-Loan Defaults? – For-profit colleges enroll 10 percent of US students but account for 50 percent of student-loan defaults. And low-income students are hit the hardest.
- U.S. Stepping Up Enforcement on Delinquent Student Loans – Treasury collections totaled $2.9 billion in fiscal 2018; Even more recovered in first six months of current fiscal year
IN CASE YOU MISSED IT . . .
Teaching Old Dogs New Tricks: New Ideas for Treatment of Student Loans in Bankruptcy
Probably the most thought provoking article The Academy has run on student loans in a long time. A must read . . .MORTGAGES AND DEEDS OF TRUST (Not password protected)
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May 13, 2019
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Teaching Old Dogs New Tricks: New Ideas for Treatment of Student Loans in Bankruptcy
Probably the most thought provoking article The Academy has run on student loans in a long time. A must read . . .
Postpetition Borrowing by a Consumer Debtor in Chapter 13 – Part 2 of 2
ABI Commission on Consumer Bankruptcy – Remedies for Discharge Violation
“ . . . the Consumer Commission has sought to balance the interests of the creditors in obtaining clearance before they engage in any particular conduct, with the interests of debtors seeking to enforce the discharge injunction.”At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the NACTT conference.
See also previous articles:
Report of the ABI’s Commission on Consumer Bankruptcy
Report – Introduction
Student Loans – Suggested Statutory Changes
Student Loans – Suggested Regulatory and Judicial Changes
A Day in the Life of a Chapter 13 Trustee
“I was recently asked to expound on a ‘Day in the Life of a Chapter 13 Trustee.’ . . . so here goes.”As part of Trustee Burks’ article, she shares a treasure you may not have seen before . . . ‘Effective Communication Guide.’ It’s a very useful document. Please share it with your Judges especially those who believe they cannot speak to you. They CAN on procedural issues.
From the UST
Location: Eastern District of Virginia, primarily Norfolk/Newport News Divisions
Application Due Date: May 31, 2019
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Indiana U.S. Bankruptcy Trustee Appointed as Interim Trustee in Region Including Georgia
From the IRS
Taking Care of Business: Recordkeeping for Small Businesses
From the CFPB
- CFPB Proposes New HMDA Rules – New rules would increase reporting threshold for mortgages
Farmers in the News
Student Loan Chronicles
- Good News for Most Student-Loan Borrowers: Interest Rates Are Going Down – The 2019-2020 academic year marks the first time in three years the rates on federal loans are set to decrease
- Consumer Reports: Student loan forgiveness programs
For Your Blog
IN CASE YOU MISSED IT . . .
Looking Beyond Taggart: Is the Contempt Standard for a Stay Violation the Same as for a Discharge Injunction Violation?
The Ninth Circuit’s In re Taggart decision, previously analyzed by Larry Ahern, was argued before the Supreme Court on April 24. This week, Larry looks to the Sixth Circuit’s recent “good faith” decisions in In re Nicole Gas Production, Ltd. and In re Wohleber and considers whether the outcome of Taggart may also inform the standard for contempt arising from a stay violation.
Click here for a summary of Taggart v. Lorenzen
Click here for Oral argument transcripts — Taggart v. Lorenzen
MORTGAGES AND DEEDS OF TRUST (Not password protected)
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
BY THE NUMBERS (Not password protected)
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May 6, 2019
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Postpetition Borrowing by a Consumer Debtor in Chapter 13 – Part 1 of 2
“Although our Nation’s bankruptcy laws are uniform, chapter 13 practice in our Nation’s bankruptcy courts varies to a significant extent in the different judicial districts. One example of this variation is the treatment of postpetition borrowing by a consumer debtor in chapter 13.”In this Part 1, Judge Fagone and Ciera Dye outline the statutory framework as well as the caselaw.
Looking Beyond Taggart: Is the Contempt Standard for a Stay Violation the Same as for a Discharge Injunction Violation?
The Ninth Circuit’s In re Taggart decision, previously analyzed by Larry Ahern, was argued before the Supreme Court on April 24. This week, Larry looks to the Sixth Circuit’s recent “good faith” decisions in In re Nicole Gas Production, Ltd. and In re Wohleber and considers whether the outcome of Taggart may also inform the standard for contempt arising from a stay violation.Click here for a summary of Taggart v. Lorenzen
Click here for Oral argument transcripts — Taggart v. Lorenzen
ABI Commission on Consumer Bankruptcy – Student Loans – Suggested Regulatory and Judicial Changes
In this, the newest, article regarding the ABI Commission, Hildebrand states:“ . . . , recognizing that effectuating statutory modifications entails an extremely long, grueling and difficult process, made suggestions for non-statutory modifications by regulation and by case law. . . . Commission recommended that the U.S. Department of Education promulgate very clear rules as to the position the Department would take when confronted with an assertion that the repayment of a student loan would work an undue hardship under 523(a)(8).”
At the Indianapolis NACTT meeting (July 16-19), a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the NACTT conference.
See also previous articles:
Report of the American Bankruptcy Institute’s Commission on Consumer Bankruptcy
ABI Commission on Consumer Bankruptcy – Introduction
ABI Commission on Consumer Bankruptcy – Student Loans – Suggested Statutory Changes
From the UST
Chapter 7 Trustees WantedApplication due date for all 3 is: May 17, 2019
- Northern District of New York, primarily in the Utica/Binghamton/Syracuse Division
- Western District of New York, primarily in the Rochester Division
- District of Connecticut, in the Bridgeport/Hartford/New Haven Divisions
On the IRS
Six Things Taxpayers Should Know About the Sharing Economy and Their Taxes
From the CFPB
CFPB Proposes Changes to HMDA Rules
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
For Your Blog
Done with Taxes This Year? Use 2018 Return to Get 2019 Withholding Right
IN CASE YOU MISSED IT . . .A Hot Case. Hot Off the Press.
Are Direct Payments by Debtor on Mortgage Considered Payments “Under the Plan” for Purposes of Discharge?
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April 29, 2019
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Making Sense of the Means Test
Attorney Spanos brings us an excellent reference tool which asks the question ‘are you doing it right?’
“Of significance, line 13b is not the contractual monthly payment pursuant to the contract with the creditor. It is balance owing at the time of filing (as determined by schedule A/B or the proof of claim) divided by 60. This formula differentiates cases where a debtor’s loan will mature sooner, rather than later, and will adjust accordingly the amount that can be deducted.”
A Hot Case. Hot Off the Press.
Are Direct Payments by Debtor on Mortgage Considered Payments “Under the Plan” for Purposes of Discharge?
Report of the American Bankruptcy Institute’s Commission on Consumer Bankruptcy
The Report of the Commission on Consumer Bankruptcy for improvements to the consumer bankruptcy system was made public on April 11, 2019. The full report is available free by download from the ABI’s website.
This article is the Foreward to the Report which explains the creation and charge of the Commission, as well as its procedures in deliberating and reaching consensus on forty-eight discrete recommendations. This Foreward is reprinted with permission of the American Bankruptcy Institute.
Periodically between now and NACTT’s annual meeting in Indianapolis, July 16-19, 2018, we will post articles discussing specific recommendations of the Commission, and at the Indianapolis meeting, a panel of Commissioners will explore recommendations that directly affect Chapter 13 practice. Click here to register for the conference.
See also previous articles:
ABI Commission on Consumer Bankruptcy – Introduction
ABI Commission on Consumer Bankruptcy – Student Loans – Suggested Statutory Changes
NACTT Indianapolis Speaker Named ABI Prez
From the Supreme Court
Court Hears Arguments on Limiting Contempt For Pursuing Invalid Debts
Click here for a summary of Taggart v. Lorenzen
Click here for Oral argument transcripts — Taggart v. Lorenzen
Graying of Debtors
Older Workers Helped Fuel Recent U.S. Growth. Can it last?
McDonald’s is Partnering with AARP to Hire Older Employees – Would you like fries with your retirement?
Low Savings, High Medical Costs, Fraying Safety Net Keep Seniors Working
The fact that more and more older individuals are filing bankruptcy is one that will be addressed at the NACTT conference in Indianapolis. A team of experts has been assembled to address: Graying of Debtors – Effectively representing older clients and economic factors increasing seniors’ filings. Speakers are: Krispen Carroll, Prof. Bob Lawless, William T. Rule, Ph.D., and David Cox.
From the Courts
- Notice of Vacancy – Bankruptcy Judgeship – Youngstown, Ohio
Chapter 12 in the News
Bipartisan Group of Lawmakers Aim to Ease Chapter 12 Bankruptcy Rules
Ditech Bankruptcy in the News
- Victims of Reverse Mortgage Scam Want Protection from Ditech Bankruptcy – Request the creation of a committee to protect consumer interests
See also: Webinar: Ditech – What Consumer Bankruptcy Folks Need to Know
From the CFPB
- A Kinder, Gentler CFPB? Bureau announces new enforcement rules – CFPB issues new policies on Civil Investigative Demands
Student Loan Chronicles
- Sudden Death: Can the most damaging kind of for-profit closure be prevented?
For Your Blog
IN CASE YOU MISSED IT . . .
A very popular item from last week . . .
Less Than 100% Dividend, Can a Chapter 13 Plan be Paid Off Early?
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IN THE NEWS (Not password protected)
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April 22, 2019
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Less Than 100% Dividend, Can a Chapter 13 Plan be Paid Off Early?
From the Supreme Court
Argument Preview: Justices to consider sanctions for violating bankruptcy discharge
ABI Commission on Consumer Bankruptcy – Introduction
- In this, the first in a series, Trustee Hildebrand explains the background and processes of the Consumer Commission. “A significant number of suggestions were included in the report and the Academy intends to review these recommendations, hoping to solicit feedback from Academy members.”
ABI Commission on Consumer Bankruptcy – Student Loans – Suggested Statutory Changes
- “The Commission did not believe it appropriate to make student loans freely dischargeable . . . The Commission did, however, recommend that we return to a time-based exception from discharge . . .”
Hot Off the Press – ABI Report
The Final Report of the ABI Commission on Consumer Bankruptcy has now been released. The Report is available for download at ABI.org. Click here, complete the short form (name and email address) and you will be sent a link to the 274-page report.
You may also click here for a summary
See also: Many People are Too Broke for Bankruptcy – New Report Suggests Some Fixes
Author and Titan of Bankruptcy Dies at 95
George M. Treister, author of ALIABA’s Fundamentals of Bankruptcy Law, a Yale graduate, influenced bankruptcy in so many way.
Click here to leave a sympathy message for the family
Farmers in the News
Trends Show Chapter 12 Bankruptcies Not Rising at an Alarming Rate
Recorded Webinar Available – Ditech – What Consumer Bankruptcy Folks Need to Know
Tara Twomey and Thad Bartholow did an excellent job teaching attendees: how/where to file claims; the bar date; the entire list of entities involved; why your client may not have received notice and what to do about it; what the proposed plan does and doesn’t say; and more.
This resource is FREE to subscribers or is available for $25 per view for non-subscribers. Click here to subscribe!
From the CFPB
Could Debt Collectors Send You Texts, Emails? – Consumer groups fear CFPB may allow it.
IN CASE YOU MISSED IT . . .
Tax Form 1099 Needs A Closer Look: Chances Are It’s Wrong
Tax attorney Bill Purdy says: “Don’t take IRS form 1099 at face value.”
“Financial intuitions use dart boards, Ouija boards, soothsayers, the entrails of an owl, and basically any number they feel like using for the fair market value.”
More from this author: Crushing Tax Change for Injured Consumers
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April 15, 2019
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Passive Retention: A Creditor’s Right or an Act to Exercise Control?
As reported in March, we are pleased to publish the first of several articles written by law students who benefited from the grant money provided by the National Data Center.
“ . . . Whether it is a motor vehicle or other collateral, this type of dispute is the prompt to the Duberstein Moot Court Competition and leads to the questions of whether passive retention of property is a violation of the automatic stay.”
Tax Form 1099 Needs A Closer Look: Chances Are It’s Wrong
Tax attorney Bill Purdy says: “Don’t take IRS form 1099 at face value.”
“Financial intuitions use dart boards, Ouija boards, soothsayers, the entrails of an owl, and basically any number they feel like using for the fair market value.”
More from this author: Crushing Tax Change for Injured Consumers
Hot Off the Press – ABI Report
The Final Report of the ABI Commission on Consumer Bankruptcy has now been released. The Report is available for download at ABI.org. Click here, complete the short form (name and email address) and you will be sent a link to the 274-page report.
You may also click here for a summary
Beginning next Monday, ConsiderChapter13.org will publish a series of explanatory articles related to topics of interest to you addressed in the report.
Webinar Now Available
Ditech – What Consumer Bankruptcy Folks Need to Know
On April 3rd, The Academy d/b/a ConsiderChapter13.org produced an excellent webinar regarding the bankruptcy of Ditech and its affiliates.
Tara Twomey and Thad Bartholow did an excellent job teaching attendees: how/where to file claims; the bar date; the entire list of entities involved; why your client may not have received notice and what to do about it; what the proposed plan does and doesn’t say; and more.
This resource is FREE to subscribers or is available for $25 per view for non-subscribers. Or click here to subscribe!
See also: Ditech Bankruptcy Loophole Could Cause Adverse Effect for Some Homeowners
Discounted Registration Price ENDS Tomorrow – April 16th! Save $200 by registering right now!!
Click here to see the fabulous program offered – The Honorable Kevin R. Anderson joins Lundin and Hildebrand for the annual case law update.
Register NOW for NACTT Indianapolis
Think Indy isn’t fun? Think they don’t have GREAT restaurants? THINK AGAIN . . .
- Click here for Indy’s Top 25 Local Restaurants
- Check out this list of Restaurants near JW the Marriott Indianapolis by OpenTable
- Click here for a fun list of 47 Unconventional Things to do in Indianapolis
- FREE – Click here for 20 FREE Things to do in Indy
On the IRS
- Middle-Class Homeowners Hit by New Tax Law: “This is going to wipe us out”
Sanctions and Irony and Fraud, Oh My!
Student Loan Chronicles
- Student Loan Debt Could Affect Your Job in 13 States – While some states have laws to punish those in student loan default, enforcement varies widely.
- ‘Lousy System’: U.S. official who resigned explains how the student debt crisis got so bad
- 21 States to DeVos: Stop blocking our efforts to crack down on student-loan companies
- (Proposed Texas legislation you need to be aware of) Is Old Debt Coming Back to Haunt You? Why you may no longer have to worry about it
For Your Blog
IN CASE YOU MISSED IT . . .
Deconstructing the Fair Debt Collection Practices Act: Obduskey Says Lawyers Conducting Nonjudicial Foreclosure Are Not “Debt Collectors”
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April 8, 2019
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Deconstructing the Fair Debt Collection Practices Act: Obduskey Says Lawyers Conducting Nonjudicial Foreclosure Are Not “Debt Collectors”
I Win. I Win. Trustee Holds Record for Having the Oldest Open Chapter 13 Case
From the Editor
This week Judge Brown looks at two cases – one on the ever popular topic of attorney fees and the other on confirmation:
- Attorney Fees – Chapter 13 debtor’s attorney not entitled to recovery under § 330 of fees that were incurred in defending prior attorneys’ sanctions motion.
- Confirmation – Debtors could not deduct ownership costs for vehicle secured by non-purchase money lien.
Discounted Registration Price EXTENDED through April 16th! Save $200 by registering right now!!
Click here to see the fabulous program offered – The Honorable Kevin R. Anderson joins Lundin and Hildebrand for the annual case law update.
Register NOW for NACTT Indianapolis
Click here for registration forms only
Think Indy isn’t fun? Think they don’t have GREAT restaurants? THINK AGAIN . . .
- Click here for Indy’s Top 25 Local Restaurants
- Check out this list of Restaurants near JW the Marriott Indianapolis by OpenTable
- Click here for a fun list of 47 Unconventional Things to do in Indianapolis
- FREE – Click here for 20 FREE Things to do in Indy
W.Va. Bankruptcy Judge Nominated to U.S. District Court
Judge Volk Nominated to U.S. District Court
From the National Consumer Bankruptcy Rights Center
From ProPublica on the IRS
Student Loan Chronicles
- Student Loan Relief for Public Servants: 38,460 applied, only 262 accepted
- How Student Loans Impact Your Taxes – Student loan borrowers could qualify for education tax breaks and may want to rethink filing status.
Farmers in the News
- Caution Is Watchword for Local Farmers – With 2019 trade environment murky, every factor matters
Regarding Retirement
For Your Blog
IN CASE YOU MISSED IT . . .
Critical Case Comment
When the wages of an insolvent spouse are deposited into the couple’s entireties account, both spouses are fraudulent transferees; wage deposits spent on non-necessary expenditures are recoverable from the joint account by determining the proportion to the overall share of wages in the account as a whole. (Ambro) In re Titus, 916 F.3d 293 (3rd Cir. February 20, 2019)
MORTGAGES AND DEEDS OF TRUST (Not password protected)
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April 1, 2019
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Critical Case Comment
This one is for the creditors!!!When the wages of an insolvent spouse are deposited into the couple’s entireties account, both spouses are fraudulent transferees; wage deposits spent on non-necessary expenditures are recoverable from the joint account by determining the proportion to the overall share of wages in the account as a whole. (Ambro) In re Titus, 916 F.3d 293 (3rd Cir. February 20, 2019)
From the Editor
This week Judge Brown looks at four cases. He brings us one synopsis on lien modification and three relating to debtor attorneys:
REMINDER – INCREASES GO INTO EFFECT TODAY!! (APRIL 1ST)
Dollar Amount Increases in Bankruptcy Code
Sanctions and Irony and Fraud, Oh My!
- Is Manafort-Style Mortgage Fraud More Common Than We Think? Mortgage fraud is on the rise as more consumers use false claims to jump hurdles to homeownership
IN CASE YOU MISSED IT . . .
Arbitration in Bankruptcy: Reading Opinions & Tea Leaves in Recent Supreme Court & Lower Court Actions – Part IV – The Lower Courts Struggle with Arbitration Guidelines
What’s an Attorney to Do? Considerations for Counsel on all Sides of the Arbitration Question
Click here for Part II
Click here for Part III
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March 25, 2019
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Duberstein Bankruptcy Moot Court
In partnership with The Academy, the National Data Center awarded two $5,000 scholarships to teams wishing to participate in the Duberstein competition. Sixty-two teams in all participated in the Honorable Conrad B. Duberstein National Bankruptcy Moot Court Competition this year. Duberstein is the only bankruptcy-focused national advocacy competition and is sponsored by the American Bankruptcy Institute and hosted by St. John’s University Law School in New York.
The National Data Center grants were awarded to teams from the University of Illinois and the University of Texas. Both schools advanced to the Sweet Sixteen at the national competition, Illinois advancing one team and Texas sending through two teams this year. One University of Texas Law School team then advanced to the Final Four, finishing 3rd in the competition and also receiving an outstanding brief award.
CONGRATULATIONS TO BOTH TEAMS UNIVERSITY OF ILLINOIS AND UNIVERSITY OF TEXAS AND THEIR COACHES, DEBBIE LANGEHENNIG AND PROF. BOB LAWLESS!!!!
In coming weeks, watch for articles written by law student team members.
Arbitration in Bankruptcy: Reading Opinions & Tea Leaves in Recent Supreme Court & Lower Court Actions – Part IV – The Lower Courts Struggle with Arbitration Guidelines
What’s an Attorney to Do? Considerations for Counsel on all Sides of the Arbitration Question
In this series of articles for the Academy, Larry Ahern reviews the effect of arbitration clauses in bankruptcy proceedings. Today, he concludes the series with some suggestions and resources for parties on all sides of the arbitration question.
Click here for Part I
Click here for Part II
Click here for Part III
See also: Forced Arbitration Is Unjust and Deeply Unpopular. Can Congress End It?
From the Editor
Judge Brown was chained to his desk this week and shares three case synopsis, each on discharge issues:
New from the Supremes
Supreme Court Defines ‘Debt Collector’ Under Fair Debt Collection Practices Act
From the IRS
Tax Time Guide: Contribute to an IRA by April 15 to claim it on 2018 tax returns
Want to learn more about Chapter 12?
Register Now for the Chapter 12 Conference
Register NOW! |
REMINDER – INCREASES GO INTO EFFECT APRIL 1ST
Dollar Amount Increases in Bankruptcy Code (Not password protected)
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March 18, 2019
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Trustee May Use Any Law Available to Avoid a Transfer
From the Editor
Judge Brown was back at his desk this week and takes a look at two cases dealing with confirmation:
Ensure You Understand Insurance in Bankruptcy
From the IRS
There is NO MORE Form 1040A or 1040EZ – Six New Schedules Some Taxpayers Will File with New Form 1040
Passing of District Court Judge
Pioneering Judge Mary Lou Robinson Dies at 92
A popular link from last week . . .
Bending the FDCPA to the Breaking Point
3rd Cir. Broadens Scope in Ruling Creditor is a Debt Collector
From the National Consumer Bankruptcy Rights Center
What is Bankruptcy Fraud?
Key Concepts Concerning Bankruptcy Fraud: the Wagoner Rule and the In Pari Delicto Defense
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Dollar Amount Increases in Bankruptcy Code
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March 11, 2019
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Tips and Traps: Issuing A Subpoena for Bank Records
Arbitration in Bankruptcy: Reading Opinions & Tea Leaves in Recent Supreme Court & Lower Court Actions – Part III – The Lower Courts Struggle with Arbitration Guidelines
Click here for Part IISee also:Arbitration in Bankruptcy — Discharge, the Easy Case
From the IRS
Here’s How a Name Change Affects a Tax Return
- When someone legally changes their name, there are tax consequences they need to know about., especially at tax time.
IRS Extends April 15, Other Upcoming Deadlines for Alabama Storm Victims, Provides Other Tax Relief
- Victims of March 3rd tornadoes and severe storms in Alabama have until July 31, 2019, to file certain individual and business tax returns and make certain tax payments.
Farmers in the News
‘We Need It Now': U.S. Farm Country Pins Hopes on China Trade Deal
Want to learn more about Chapter 12?
Register Now for the Chapter 12 Conference
Register NOW! |
NEW Chapter 7 Trustee Positions Available
Due Date: March 22, 2019Location: District of Maryland, primarily the Northern Division (including Baltimore and Salisbury)
Due Date: March 22, 2019
Payday Lenders in the News
Move to Pull Consumer Protection Rule Heightens Debate Over Payday Lending
Bending the FDCPA to the Breaking Point
3rd Cir. Broadens Scope in Ruling Creditor is a Debt Collector
From the National Consumer Bankruptcy Rights Center
Vocabulary Term of the Week
- The Suitability and Logic of ‘Suitability Logic’ in Valuations – Article describes new trends in lender valuation processes
For Your Blog
- Debt Collectors: Make Sure They’re Legit, and They Can’t Scream, Curse or Threaten You
In Case You Missed It . . .
Dollar Amount Increases in Bankruptcy Code (Not password protected)
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March 4, 2019
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Complete Termination of The Automatic Stay Under §362(c)(3)(A) According to the First Circuit
Why Bankruptcy Judges in North Carolina Still Appoint Trustees (Not password protected)
This is a panel you won’t want to miss!
Register NOW for NACTT IndianapolisClick here for registration forms only
Dollar Amount Increases in Bankruptcy Code (Not password protected)
Farmers in the News
- USDA Has Paid Out $7.7 Billion to Help Farmers Hit by Trump’s Tariffs – “Under the trade dispute, soybean exports to China alone have plummeted by 22 million tonnes, or over 90 percent,” said the USDA.
- Economists Don’t See Farm Crisis – Bankruptcies, Loan Delinquency Rates Don’t Reflect Ag Economy in Distress
Want to learn more about Chapter 12? Attend the Chapter 12 Conference.
Register NOW! |
UST Has Multiple Trustee Positions Posted
Application Due: March 19, 2019Chapter 7Location: Northern District of Ohio, (Eastern Division, Akron)
Application Due: March 11, 2019Location: Northern District of Ohio, (Western Division, Toledo)
Application Due: March 11, 2019
About Income Tax Changes
Tax Refunds Down 17%: IRS
Payday Lenders in the News
For Your Blog
‘Where’s My Refund?’ Remains Easiest Way to Check Tax Refund Status
Student Loan Chronicles
- Government’s Trillion-Dollar Student Loan Office Is a Train Wreck – A “damning” inspector general report reveals shady tactics on the business side of the American education system
- U.S. Student-Loan Delinquencies Hit Record – Past-due debt reached $166 billion in the fourth quarter, but may be understated
- Public-Interest Lawyers Who Sued Over Student-Loan Forgiveness Are One Step Closer – A judge said the government’s changing approach to whether some borrowers qualify was ‘arbitrary and capricious’
- End of the Road for Argosy – Trump administration cuts off Title IV student aid for Argosy University campuses and blocks deal to go nonprofit after chain fails to make payments to thousands of students.
Sanctions and Irony and Fraud, Oh My!
- In the “You Can’t Make This Stuff Up” Department – In Retrospect, Expert’s ‘How To Make Child Pornography’ Exhibit Might Have Been A Bad Idea
- Meet the Wives Whose Husbands Committed White-Collar Financial Crimes – These women are bouncing back financially after their partners committed fraud and embezzlement
- (Small bankruptcy connection) Fake Invoices and Gambling Debts: How a county bureaucrat stole $6.7 million
In Case You Missed It . . .
Critical Case Comment
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February 25, 2019
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Critical Case Comment
Rescuing a Troubled Chapter 13: The Unseen Threat
Meet an AO Trustee
!!! IT’S TIME IT’S TIME IT’S TIME !!!
“This year’s program is filled with a range of relevant and timely topics of interest to consumer practitioners. Members of the ABI Commission on Consumer Bankruptcy will discuss recommendations related to Chapter 13 and how those recommendations may impact the Chapter 13 practice. These and other talented speakers will address topics on critical issues involving mortgages, graying of debtors, factors impacting discharge rates, modifications, Chapter 13 duties, powers and limitations, negotiating with secured claimholders, class actions, security clearances, loss mitigation, presentation skills, new bankruptcy rules and local plans, strategies for addressing student loans, and three hours of sessions related to ethics. The always-popular case law update is returning again this year, featuring the Honorable Keith M. Lundin, the Honorable Kevin R. Anderson, and Trustee Henry E. Hildebrand III.” – Program Chair Linda B. GoreRegister NOW for NACTT Indianapolis
Click here for registration forms only
From the Supreme Court
- Argument Analysis: Meandering argument suggests justices likely to narrow bankrupts’ power to rescind licenses in bankruptcy
UST Has Multiple Trustee Positions Posted
Application Due: March 19, 2019
Application Due: March 1, 2019
Application Due: March 11, 2019Location: Northern District of Ohio, (Western Division, Toledo)
Application Due: March 11, 2019
About Income Tax Changes
There’s Always a Car
- How Scary Are Subprime Auto Loans? Unlike subprime mortgages during the financial crisis, they don’t pose a risk to the system.
For Your Blog
As Refunds Dip Again, Treasury Cites Last Year’s Tax Cut
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
When Life Backs Chapter 13 Debtors Into A Corner, § 1329 May Provide A Way Out Of Trouble And A Shorter Path To Discharge
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February 18, 2019
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When Life Backs Chapter 13 Debtors Into A Corner, § 1329 May Provide A Way Out Of Trouble And A Shorter Path To Discharge
Arbitration in Bankruptcy: Reading Opinions & Tea Leaves in Recent Supreme Court & Lower Court Actions – Part II: More Supreme Court Action on Arbitration
In this series of articles, Larry Ahern selects several recent decisions addressing the effect of arbitration clauses. He starts with three cases presented to the Supreme Court in 2018, including one decided after Part I of this series was published.Stay tuned for Part III – Mr. Ahern will consider what guidance may be found in the caselaw to date, especially as it relates to core proceedings, like student loan dischargeability disputes.
Note Correction to Part I of this Series
Part I has been corrected since its original publication on January 21. In the Conclusion, the phrase “to extend that commitment” has been amended to read “not to extend that commitment.” Thanks to Mark Leffler for noting the typographical error.
See also:
Applying a U.S. District Court’s Local Mediation Rule in Bankruptcy Court: Iowa & Minnesota Examples
Mediation as “Entirely-Voluntary”: An Unexamined Value That’s Not Worth Keeping
Farmers and Chapter 12
In Debt and Out of Options, Thousands of Dairy Farmers Turn to GoFundMe for Bailout
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Want to learn more about Chapter 12?
On July 15 & 16 (just prior to the NACTT Conference) the Association of Chapter 12 Trustees (Act2) will host a day and a half seminar on all things Chapter 12.
Register NOW! |
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Study of Continued Interest
Personal Bankruptcy Decisions Before and After Bankruptcy Reform
UST Has Multiple Trustee Positions Posted
Application Due: March 19, 2019Location: Eastern District of Texas, (Tyler, Marshall, Lufkin and Beaumont Divisions)
Application Due: March 1, 2019Chapter 7Location: Northern District of Ohio, (Eastern Division, Akron)
Application Due: March 11, 2019Location: Northern District of Ohio, (Western Division, Toledo)
Application Due: March 11, 2019
About Income Tax Changes
CFPB In The News
CFPB Cripples New Rules for Payday Loans
For Your Blog
Fastest Way to Check Tax Refund Is ‘Where’s My Refund?’ Tool at IRS.Gov
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Meet Another Trustee
MORTGAGES AND DEEDS OF TRUST (Not password protected)
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February 11, 2019
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Archives |
Acquisition of Post-Confirmation Property in Chapter 13: What Remains of the Estate?
Chapter 12 and the Challenge of the New Farm Crisis (Reprinted with permission from the ABI Journal, Vol. XXXVIII, No. 2, February 2019)
“The Most Powerful – Yet Most Underutilized – Chapter of the Code”
“If your firm does small business chapter 11 or 13 cases, but you have never handled a chapter 12 case, it is worth consider¬ing. There are a lot of farmers and fishermen out there. Their businesses tend to be highly leveraged, and they operate under tremendous financial and physical risks. Very few of them realize what Congress did to help them three decades ago.”
See also:
Farmer Bankruptcies Swell to Decade High in Farm Belt
Farmers Nearing Crisis Push Back on Trump Trade Policies – Low prices, trade wars and higher interest rates are depressing farm incomes.
And note Act2’s new Twitter account – @farmfreshstart
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Want to learn more about Chapter 12?
On July 15 & 16 (just prior to the NACTT Conference) the Association of Chapter 12 Trustees (Act2) will host a day and a half seminar on all things Chapter 12.
Register NOW!And note Act2’s new Twitter account – @farmfreshstart |
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Meet Another Trustee
UST Has Multiple Trustee Positions Posted
Location: Southern District of Ohio, Dayton
Application Due: March 19, 2019
Location: Eastern District of Texas, (Tyler, Marshall, Lufkin and Beaumont Divisions)
Application Due: March 1, 2019
Location: Northern District of Ohio, (Eastern Division, Akron)
Application Due: March 11, 2019
Location: Northern District of Ohio, (Western Division, Toledo)
Application Due: March 11, 2019
Worth repeating . . .
Eviction Diversion Programs and Chapter 13 Bankruptcy
About Income Taxes
- Why Millions of People Are Getting Hit with a Surprise Tax Bill This Year – An effort to make the tax bill look better ended up making it look worse.
For Your Blog
- Credit Errors Upend Lives of Thousands of Consumers – Lawsuits accuse Equifax of not properly investigating disputes, despite laws and settlements about the issue dating back decades.
- Stuck in Student Loans? Don’t blow your tax refund — here are 4 smart ways to spend it
Student Loan Chronicles
- Student Loan Debt Burdens Boomers as Well as Millennials – Baby boomers 60 or older are the fastest-growing category of student loan debtors, Guardian Life reports.
Sanctions and Irony and Fraud, Oh My!
- Developer Behind $58M Ponzi Scheme Sells Manhattan Properties at Auction – Michael D’Alessio could lose more than $50M in assets to the Feds
- A Chapter 13 case. You WANT to read this one . . .Belleville Resident Pleads Guilty to Falsifying a Record in Bankruptcy Proceeding
In Case You Missed It . . .
Critical Case Comment
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February 4, 2019
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Archives |
Critical Case Comment
Avoidance Powers in Chapter 13 – Part 6 of 6
Click here for Part 2 of 6
Click here for Part 3 of 6
Click here for Part 4 of 6
Click here for Part 5 of 6
Eviction Diversion Programs and Chapter 13 Bankruptcy
The NACTT annual conference will be one of the best, EVER. DON’T MISS IT. All your favorites* will be offered but new topics such as the successfulness, or not, of loss mitigation programs will be discussed.
*Note that the Annual Case Law Update will be Friday AFTERNOON. Reminder, the conference is Wednesday, Thursday and Friday.
From the IRS
Here’s What Taxpayers Should Consider When Determining If They Need to File
From the National Consumer Bankruptcy Rights Center
Court Rejects Nonstandard Provision for Retention of Tax Refund
For Your Blog
- The 53 Best Customer Rewards Programs – From fast food restaurants to pharmacies, these are the most recommended store rewards programs around. Score freebies, coupons, and other perks!
Student Loan Chronicles
- Fall Behind on Your Student Loans? You could lose your license to work. Texas lawmakers want to change that.
Sanctions and Irony and Fraud, Oh My!
- A Chapter 13 case. You WANT to read this one . . . Belleville Resident Pleads Guilty to Falsifying a Record in Bankruptcy Proceeding
- Man Sentenced in 2002 for 9-Year Fraud Scheme Faces More Prison Time for Hiding Financial Activities
- More Than 770 Million Emails and Passwords Exposed in Massive Breach – Some cybersecurity experts are calling this one of the largest breaches ever
- More than 8,000 Investors Were Misled by this $1.2B Ponzi Scheme – Here’s how to spot a fraud
In Case You Missed It . . .
Pump the Brakes: Bad Faith Debtors Are Not Gaming the System Part 2
Click here for Yet Another Arrow in the Quiver of the “Less Than Honest Debtor”? – The District Court of Kansas has lowered the bar of acceptable conduct by Debtors to a new, unimaginable low. “The policy implications of this holding are greatly distressing.”NOTE: Commentary Posted at End of Article (scroll to the bottom of the article page and look for ‘Comments’)
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January 28, 2019
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Archives |
Pump the Brakes: Bad Faith Debtors Are Not Gaming the System Part 2
“This decision has understandably created concern among those who care about the integrity of Chapter 13, leading some to suggest that the Code and Rules don’t do enough to prevent bad faith debtors from reaping the benefits of the discharge.”Click here for Part 1
Click here for Yet Another Arrow in the Quiver of the “Less Than Honest Debtor”?
– The District Court of Kansas has lowered the bar of acceptable conduct by Debtors to a new, unimaginable low. “The policy implications of this holding are greatly distressing.”NOTE: Commentary Posted at End of Article (scroll to the bottom of the article page and look for ‘Comments’)
Avoidance Powers in Chapter 13 – Part 5 of 6
Click here for Part 2 of 6
Click here for Part 3 of 6
Click here for Part 4 of 6
The Government Shutdown and Chapter 13 Plan Arrearages -What Do We Do Now?
From the IRS
From the National Consumer Bankruptcy Rights Center
From the Courts
For Your Blog
Sanctions and Irony and Fraud, Oh My!
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Bureau asks Congress for “clear authority to supervise” military lending compliance
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January 21, 2019
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Archives |
Martin Luther King Jr. – A look back at the life of an American icon
Arbitration in Bankruptcy: Reading Opinions & Tea Leaves in Recent Supreme Court & Lower Court Actions
Avoidance Powers in Chapter 13 – Part 4 of 6
Click here for Part 2 of 6
Click here for Part 3 of 6
Meet Another of the New Trustees
Northern District of MS Welcomes New Judge
Investiture Ceremony Honors Local Bankruptcy Court’s Newest Judge
From the National Consumer Bankruptcy Rights Center
From the Courts
For Your Blog
Student Loan Chronicles
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January 14, 2019
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Archives |
Pump the Brakes: Bad Faith Debtors Are Not Gaming the System Part 1 of 2
From the Editor
Bankruptcy Protections Limited for Repeat Filers
Avoidance Powers in Chapter 13 – Part 3 of 6
Click here for Part 2 of 6
Meet One of Our Newest Trustees
From the National Consumer Bankruptcy Rights Center
9th Circuit Clarifies Appellate Attorney’s Fees in Sanctions Case
From the Supreme Court
- Can You Be Held in Contempt for Obeying a Court Order? The U.S. Supreme Court Will Decide
- SCOTUSblog: Is Foreclosure Debt Collection?
For Your Blog
Affected by the Shutdown? The Do’s and Don’ts
Sanctions and Irony and Fraud, Oh My!
- ‘Restitution comes first:’ Judge cuts twins’ prison sentence for $18 million Ponzi scheme
- Consumer Diary: Collection agency amasses complaints
IN THE NEWS (Not password protected)
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January 7, 2019
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Archives |
Yet Another Arrow in the Quiver of the “Less Than Honest Debtor”?
Avoidance Powers in Chapter 13 – Part 2 of 6
working backward from the rest of the Code to Chapter 13.Click here for Part 1 of 6
Passing of Former Clerk
Passing of Bankruptcy Judge – Update
- Coroner: Bankruptcy judge’s death a suicide
- Posted 11/26/18: Federal Bankruptcy Judge Hon. Laurel E. Babero Dies in Courthouse
From the Courts
Courts Endure Rough Storm Season
From the IRS
IRS Issues Standard Mileage Rates For 2019
Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 58 cents per mile driven for business use, up 3.5 cents from the rate for 2018,
- 20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018, and
- 14 cents per mile driven in service of charitable organizations.
However, it is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses.
Student Loan Chronicles
- Navient Audit: Borrowers May Have Paid More for Student Loans
- (Not just another saga but a potential primer on how to succeed) A Teacher’s Long Road to Student Loan Forgiveness (and a $4,500 Surprise)
For Your Blog
Sanctions and Irony and Fraud, Oh My!
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December 31, 2018
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Archives |
Avoidance Powers in Chapter 13 – Part 1 of 6
From Credit Slips
A couple of humorous posts we think you will enjoy:
Student Loan Chronicles
- More Than 41,000 Public Service Workers Sought Federal Student Loan Forgiveness – Government Approved 206
Sanctions and Irony and Fraud, Oh My!
- Westerville Lawyer Suspended for Sexual Affair with Client. . . and failing to file a bankruptcy
- Gary Frank Saga Hits New Phase – His firm is sold for a pittance as he faces loan fraud charges
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December 24, 2018
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Archives |
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December 17, 2018
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Archives |
Amendments to Remaining Rules of Procedure Related to Bankruptcy Appeals Effective December 1, 2018
This month saw amendments to 16 bankruptcy rules, as well as a new rule and Appendix in Part VIII. Some of these changes are of more interest to the Chapter 13 community than others and were the subject of analyses by Larry Ahern published here before their December 1 effective date, including Rule 8011, dealing with electronic filing and service.His analyses continue this week with the remaining changes in Part VIII.See also:
- Electronic Filing Comes of Age – Part I: Revised Bankruptcy Rule 5005
- Electronic Filing Comes of Age – Part II: Revised Bankruptcy Rule 8011 and Civil Rule 5
- Late-Filed Secured Claims After the 12/01/2017 Rule Changes
- December 1 Approaches (Again): Home Equity Lenders Get a Break and Other Changes to Rule 3002.1
Give Me Back My Car! Recent Cases Highlight Circuit Split over Whether Failure to Return Repossessed Property Violates the Automatic Stay
Cars & Bankruptcy: What You Must Know to Get It Right
From the Courts
In a new, five-minute video, federal judges offer insights into their thinking about the separation of powers and describe how healthy tensions among the branches have a stabilizing effect on democracy.Current Rules of Practice & Procedure
Detailed information regarding the December 1, 2018, amendment.
For Your Blog
Taxpayers Can Now Instantly Get Tax Info on Instagram
Sanctions and Irony and Fraud, Oh My!
MORTGAGE MATTERS (Not password protected)
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DEBT AND THE ECONOMY (Not password protected)
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December 10, 2018
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Archives |
Watch the Clock – Timing of Appeals
American College of Bankruptcy Elects Chapter 13 Trustee Marie Ann Greenberg as a Fellow
From the IRS
Strong Passwords Help Protect Accounts Against Cybercriminals
- Passwords like – “uE*s3P%8V)” – are out. Longer, personal phrases people can remember – for example, SunWalkRainDrive – are now preferred.
Employers Should Be Aware of W-2 Scam, Protect Employee Information
Farms in the News
Student Loan Chronicles
- She Took Out $20,000 In Loans For Her Son’s College – Then he went blind
Sanctions and Irony and Fraud, Oh My!
- After Microsoft Complaints, Indian Police Arrest Scammers at 26 Call Centers – Indian police raid 26 call centers, make 63 arrests
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December 3, 2018
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Archives |
Late-Filed Secured Claims After the 12/01/2017 Rule Changes
Eastern District of Wisconsin Bankruptcy Appoints Judge
Farms in the News
- Penny for Your Corn? Stingy trade-war aid irks U.S. farmers
From the National Consumer Bankruptcy Rights Center
For Your Blog
- When to Contact Your Student Loan Servicer – Sometimes borrowers need to be proactive about reaching out to their servicer
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