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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 . . .
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 1
Click here for We Don’t Need No Stinkin’ Objections Part 2
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)
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.”
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 . . .
“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).”
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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Archives |
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
IN THE NEWS (Not password protected)
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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Archives |
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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Archives |
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)
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March 12, 2018
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Archives |
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
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February 26, 2018
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Archives |
The Law of Unintended Consequences
We Don’t Need No Stinkin’ Objections
A recent decision of the Eleventh Circuit Court of Appeals struggles with the effect on Chapter 13 of the special protection given to “title pawn” creditors. Prompted by this decision, the purpose of this article is to analyze the case and identify some unintended consequences of the decision. This week, in Part I, Larry Ahern reviews the majority’s opinion in Title Max v. Northington. In Part II, he will discuss some consequences of the decision for Chapter 13 practice, which may not have been intended by the majority.This is one in 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 comments, please send them to the author by clicking here.
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.
Register NOW FOR WEBINAR THIS WEDNESDAY
Title: In re Crawford – How Far Can a Court Go in Placing Conditions on Confirmation of a Plan?
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
Welcome New Judge
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
For Your Blog
Do your clients know about this???
- New Budget Law Includes Last-Minute Tax Relief for Millions of Homeowners. . . on their 2017 tax returns.
“Potentially the most popular one is aimed at millions of people who pay mortgage-insurance premiums on conventional, FHA and VA loans. Roughly 4.1 million owners took write-offs averaging more than $1,500 during 2015 . . . Mortgage-insurance industry officials predict that at least that many will be able claim the benefit on their 2017 tax returns — provided they learn that the deduction has been revived for the year.” [emphasis added]
Debtors’ Prison is Back
- ACLU Just Proved Courts Are Being Manipulated by Private Debt Collectors – A damning new ACLU report uncovers how the private debt collection industry uses courts to do their dirty work (very good, concise summary)
- Some U.S. Borrowers Jailed Over Civil Debts, ACLU Report Shows (same issue as above, more detail)
- Click here to see the whole study: The Criminalization of Private Debt
In Case You Missed It . . .
Discharges and the DoD: The Interplay between Bankruptcy & Security Clearances
For those who practice in bankruptcy law, the “whole person” concept is similar to the broad “totality of the circumstances” analysis that is found throughout bankruptcy opinions.
MORTGAGE MATTERS (Not password protected)
Article: Existing Home Sales See Largest Decline in More Than Three Years – Declining Due to Lack of Housing Inventory
DEBT AND THE ECONOMY (Not password protected)
Fewer Americans are Working. Don’t Blame Immigrants or Food Stamps (fascinating article!)
IN THE NEWS (Not password protected)
Fifth Circuit Report: Third Quarter 2017 – The third quarter of 2017 had one blockbuster opinion reaffirming the finality of exemptions in Chapter 7 and several less remarkable decisions. It was a slow quarter for bankruptcy.
MILITARY MATTERS (Not password protected)
Tax Credits that Help Military Families the Most – Getting tax deductions for uniforms and moving expenses is nice, but tax-free combat pay and enhanced retirement savings help out a lot more.
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February 19, 2018
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Archives |
Website Upgrade
The Academy has been hard at work making much needed upgrades to the infrastructure of ConsiderChapter13.orgEven if you don’t normally have to log into your account, you may have to log in today. Be sure to click the ‘Remember Me’ button and in most* circumstances you should only have to log in when your cookies are cleared or when you click the log out feature.
*Some of you have very strict firewalls which do not allow individual computers to remember logins.
If you experience problems accessing the site or in viewing individual posts, please let us know.
Discharges and the DoD: The Interplay between Bankruptcy & Security Clearances
For those who practice in bankruptcy law, the “whole person” concept is similar to the broad “totality of the circumstances” analysis that is found throughout bankruptcy opinions.
From the Editor
- Dismissal of Case – Debtor’s attorney’s failure to file timely appeal of dismissal was not excusable neglect
- Executory Contracts – Buy-sell agreement for stock was not executory contract
- Pawn and Tax Sale Redemption – Expiration of time for redemption did not prevent treatment of taxes in plan
Register NOW for the Academy’s Next Free Webinar
Title: In re Crawford – How Far Can a Court Go in Placing Conditions on Confirmation of a Plan?
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
Webinar Recording Now Available
The Current Loan Modification Arena
On 1/31/18 Attorney Brent Meyer moderated an excellent one-hour discussion on new and existing loan modification programs throughout the country. Experts Robert Branson and Tammy Branson updated attendees on options available to clients right now and how to navigate the loan modification application process and how to get paid! This is a moderate to advanced level webinar directed primarily to attorneys who represent debtors. Access to webinar recordings is part of your Academy subscription. Not a member? Join NOW!
Need Help With Loan Modifications?
During The Current Loan Modification Arena webinar, the Bransons mentioned their proprietary software which makes loan modification calculations a breeze. Click here to check out how you can purchase this software. Additionally, the Bransons offer educational programs and materials to help you set up your own loan medication program. Click here for more information.
For Your Blog
Sanctions and Irony and Fraud, Oh My!
- (Same case as above) Upright Law, ‘Partners’ Sanctioned for Unauthorized Law Practice
Student Loan Chronicles
- Inside One State’s Effort to Help Borrowers Erase Student Debt in Bankruptcy – Through a program championed by the AG, the Massachusetts Bar Association is matching borrowers with pro bono lawyers
In Case You Missed It . . .
Do Voluntary Retirement Contributions Made During a Chapter 13 Constitute Disposable Income?
“There are three lines of cases regarding the Debtor’s ability to contribute to a voluntary retirement plan post-petition.”
MORTGAGE MATTERS (Not password protected)
Article: US Mortgage Debt At $8.8 Trillion
Article: Mortgage Rates Highest Since 2014
Article: The New Tax Laws And Real Estate
DEBT AND THE ECONOMY (Not password protected)
MILITARY MATTERS (Not password protected)
Attention Trustees. You may also be interested in this one . . .More Than 133,000 Vets May Qualify for This Tax Refund Windfall
OF INTEREST (Not password protected)
Seems like everyone is going bust . . . Linda The Bra Lady Files for Bankruptcy
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February 12, 2018
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Archives |
Critical Case Comment
Precedent setting: Nothing requires a court to dismiss a Chapter 13 case filed by a debtor whose unsecured debts exceed the debt limits of § 109 where the excess debt derives from student loans.
Do Voluntary Retirement Contributions Made During a Chapter 13 Constitute Disposable Income?
“There are three lines of cases regarding the Debtor’s ability to contribute to a voluntary retirement plan post-petition.”
Register NOW for the Academy’s Next Free Webinar
Title: In re Crawford – How Far Can a Court Go in Placing Conditions on Confirmation of a Plan?
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
Bitcoins . . . STILL
- Bitcoin Above $8,000 After Regulators Spare Toughest Reprisals
- See also Bitcoins and Bankruptcy By Phil Lamosfor the definition of bitcoin
Webinar Recording Now Available
The Current Loan Modification Arena
On 1/31/18 Attorney Brent Meyer moderated an excellent one-hour discussion on new and existing loan modification programs throughout the country. Experts Robert Branson and Tammy Branson updated attendees on options available to clients right now and how to navigate the loan modification application process and how to get paid! This is a moderate to advanced level webinar directed primarily to attorneys who represent debtors.Access to webinar recordings is part of your Academy subscription. Not a member? Join NOW!
Need Help With Loan Modifications?
During The Current Loan Modification Arena webinar, the Bransons mentioned their proprietary software which makes loan modification calculations a breeze. Click here to check out how you can purchase this software. Additionally, the Bransons offer educational programs and materials to help you set up your own loan medication program. Click here for more information.
Did You Know?
- Here’s Exactly How Much Credit-Card and Student Debt Makes You Undateable – There appears to be a tipping point where debt and singledom go hand-in-hand
For Your Blog
- Ask Brianna: What If I Really, Really Need My Tax Refund? (Excellent article reiterating everything you want your clients to do!)
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
Forced Vesting – Take It. Please.
“The debtors soon realize the lienholders are never going to start the foreclosure proceedings.”Other Academy resources on vesting:
- No Forced Vesting Over Creditor’s Objection, at Least Not in Massachusetts (Sagendorph from 2/2017)
- From the Editor – Surrender and Vesting (Zair from 10/2016)
- Vesting Property in Disinclined Creditors (Sagendorph from 8/2015)
MORTGAGE MATTERS (Not password protected)
Article: Life After Bankruptcy-Mortgages
Article: 2017 Record Low Foreclosures
Article: Reverse Mortgages-Language Matters
Black Knight: Mortgage Performance Improves In 2017
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
The Death of Clothing (Interesting article – raises questions regarding whether or not the national standards reflect our true spending habits.)
Effort Aims to Ease Filing for Bankruptcy – Lawyers program, startup partner to aid low-income residents
CONSUMER NEWS FOR YOU (Not password protected)
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February 5, 2018
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Archives |
Stay It Isn’t So! Is the Automatic Stay Eroding in the Tenth Circuit?
“Does the automatic stay require action when inaction would otherwise affect estate property?”
Forced Vesting – Take It. Please.
“The debtors soon realize the lienholders are never going to start the foreclosure proceedings.”Other Academy resources on vesting:
- No Forced Vesting Over Creditor’s Objection, at Least Not in Massachusetts (Sagendorph from 2/2017)
- From the Editor – Surrender and Vesting (Zair from 10/2016)
- Vesting Property in Disinclined Creditors (Sagendorph from 8/2015)
Register NOW for the Academy’s Next Free Webinar
Title: In re Crawford – How Far Can a Court Go in Placing Conditions on Confirmation of a Plan?
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
When: Wednesday, February 28, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Mary K. Viegelahn, Trustee will moderate a discussion with Debbie Langehennig, Trustee and Todd Malaise, Debtors’ Attorney on the issue involving excess disposable income beyond the amount necessary to pay all creditors in full and how far can a court go to place conditions on confirmation of a plan, including a discussion on how other courts have ruled on this issue.
From the IRS
(Many IRS items could also be used in your blog.)
How Taxpayers Across the Country Can Have their Taxes Prepared for Free
Millions get their taxes done free through two programs sponsored by the IRS. These help people with lower and moderate incomes:
- The Volunteer Income Tax Assistance: This program is also known as VITA. It offers free tax return preparation to eligible taxpayers who generally earn $54,000 or less.
- Tax Counseling for the Elderly: TCE is mainly for people age 60 or older, but offers service to all taxpayers. The program focuses on tax issues unique to seniors. AARP participates in the TCE program through AARP Tax-Aide.
From the NCLC on the CFPB
A Letter from Rich Dubois, Executive Director, NCLC
“ . . . the Court of Appeals for the District of Columbia ruled yesterday that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional . . .”
Webinar Recording Now Available
The Current Loan Modification Arena
On 1/31/18 Attorney Brent Meyer moderated an excellent one-hour discussion on new and existing loan modification programs throughout the country. Experts Robert Branson and Tammy Branson updated attendees on options available to clients right now and how to navigate the loan modification application process and how to get paid! This is a moderate to advanced level webinar directed primarily to attorneys who represent debtors. Access to webinar recordings is part of your Academy subscription. Not a member? Join NOW!
From the IRS
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February
Did You Know?
(Now available (on various terms) in about half of the courts.)
For Your Blog
Student Loan Chronicles
- Understand Discharge Rates for Defrauded Borrowers – Thousands are submitting borrower defense discharge claims, but only a fraction are seeing any relief.
In Case You Missed It . . .
Separate Classification and Unfair Discrimination – Co-obligors Debts
As a Chapter 13 Trustee faced with numerous proposed plans which discriminate in the payments to non-priority unsecured claims, it does not happen often when the plan proposes to pay the unsecured claims of co-obligors less than the 100% dividend proposed to non-priority unsecured claims.
MILITARY MATTERS (Not password protected)
Army Warns of ‘Emerging Public Health Threat’ (And not just for military)
OF INTEREST (Not password protected)
Most Americans Can’t Afford a Minor Emergency – Just 39 percent of Americans have enough money in savings to cover an unexpected $1,000 bill, according to a new report.
MIAMI! (Not password protected)
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January 29, 2018
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Archives |
Separate Classification and Unfair Discrimination – Co-obligors Debts
As a Chapter 13 Trustee faced with numerous proposed plans which discriminate in the payments to non-priority unsecured claims, it does not happen often when the plan proposes to pay the unsecured claims of co-obligors less than the 100% dividend proposed to non-priority unsecured claims.
From the Editor – Claims
Register NOW for the First Free Academy Webinar of 2018
Title: The Current Loan Modification Arena
When: Wednesday, January 31, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Attorney Brent Meyer will moderate a one-hour discussion on new and existing loan modification programs. Experts Robert Branson and Tammy Branson will update attendees on options available to clients . . . and there ARE options. This is a moderate to advanced level webinar directed primarily to attorneys who represent debtors.
When: Wednesday, January 31, 2018 – 2:00 eastern/1:00 central/12:00 mtn/11:00 pacific
Description: Attorney Brent Meyer will moderate a one-hour discussion on new and existing loan modification programs. Experts Robert Branson and Tammy Branson will update attendees on options available to clients . . . and there ARE options. This is a moderate to advanced level webinar directed primarily to attorneys who represent debtors.
Farmers in Crisis
- Western Wisconsin Led Nation In Farm Bankruptcies In 2017 – Ag Experts Say Low Commodity Prices, High Land Costs Have Farmers Feeling More Financial Stress
From the IRS
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February
Sanctions and Irony and Fraud, Oh My!
In Case You Missed It . . .
“Cure and Maintain” in Chapter 20? Not in Canton, You Don’t!
“Judge Kendig’s conclusion flows from a faulty premise.”
MELTDOWN AND SPECTRE (Not password protected)
Intel Halts Some Chip Patches as the Fixes Cause Problems – The chipmaker’s updates were meant to fix the Meltdown and Spectre design flaws, but have been causing computers to unexpectedly reboot.
MORTGAGE MATTERS (Not password protected)
Black Knight Report: First Look at December 2017 Mortgage Data: 90-Day Delinquencies Jump Again as Hurricane Fallout Continues
Article: Cleveland Digs Out 10 Years Later
OF INTEREST (Not password protected)
Armed with High-Tech Assistance, Legal Aid Attorneys Aim to Assist More People Filing For Bankruptcy
(Interesting article, not what you expect) What Not to Wear…To Court – No shoes, no shirt, no justice!
CAR MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
What Makes This Flu Season So Bad – A dangerous strain paired with less effective vaccines has created a dangerous recipe for illness
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January 22, 2018
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Was It a Return?
“The standard for determining whether a document is a return consists of a four-part analysis known as the Beard test.”
“Cure and Maintain” in Chapter 20? Not in Canton, You Don’t!
“Judge Kendig’s conclusion flows from a faulty premise.”
From the CFPB
- Three Things Companies Hate About the CFPB’s Investigative Demands – CFPB will start soliciting comments on a host of matters—including enforcement, supervision and rule-making.
From the IRS
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February
Finally, Some Good News. Well, for the Consumer Bankruptcy Industry
Sanctions and Irony and Fraud, Oh My!
- British Bankruptcy Kerfuffle . . .BBC Investigation Exposes High-Living Debtors Exploiting Weaknesses in Bankruptcy System
FAR BEYOND Sanctions and Irony and Fraud, Oh My!
Creepy parents who chained up kids had previously filed a Chapter 7:
In Case You Missed It . . .
Critical Case Comment
“While it is possible for a Chapter 13 debtor to have two bankruptcy cases at the same time, a debtor is precluded from having two reorganization bankruptcy cases at the same time.”
MELTDOWN AND SPECTRE (Not password protected)
Intel Says Newer Chips Also Hit by Unwanted Reboots After Patch – Intel’s Firmware Fix for SpectreIs Also Causing Higher Reboots on Kaby Lake and Skylake CPUs
MORTGAGE MATTERS (Not password protected)
Article: Fed Fines Five More Banks
Article: Mortgage Applications Up 4.1%
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
BY THE NUMBERS (Not password protected)
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
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January 15, 2018
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Critical Case Comment
“While it is possible for a Chapter 13 debtor to have two bankruptcy cases at the same time, a debtor is precluded from having two reorganization bankruptcy cases at the same time.”
From the Editor – Automatic Stay
Back by popular demand, Judge Brown is at it again. This week he brings Academy subscribers three cases, all regarding the automatic stay.
CLOSE TO HOME Sanctions and Irony and Fraud, Oh My!
Counterfeit Check Cashing Scheme Lands Newark Man in Jail for 6 Years
Although there was no loss, Trustee Greenberg in Fairfield, New Jersey, was directly affected by this counterfeit operation. NJ State Police requested that she make a victim’s impact statement.Do you think six years is a long enough sentence? Click here and let us know your thoughts.
From the Supreme Court
A Stern Warning from the Supreme Court . . .
From the IRS EXTRA
New Mailing Address for Forms 8809 — Faxes No Longer Accepted
All Forms 8809, Application for Extension of Time to File Information Returns,filed on paper are now processed by the Internal Revenue Service Center in Ogden, Utah. These paper forms must be mailed. Faxes will not be accepted.The mailing address is:
Department of the Treasury
Internal Revenue Service Center
Ogden, UT 84201-0209
The IRS will only grant extensions for very specific reasons. For example, records were lost in a disaster or someone responsible for filing the company’s returns has an unavoidable absence.
From the National Consumer Law Center
Private IRS Collectors Waste Taxpayer Money While Squeezing Low-Income Families
Program costs three times the amount collected from financially-strapped taxpayers
Finally, Some Good News. Well, for the Consumer Bankruptcy Industry
Student Loan Chronicles
- Student Loan Crisis Could Be Worse Than Originally Thought – Nearly 40% of those who entered in 2004 could default by 2023 (2023 sounds like a LONG time off . . . um, it’s only FIVE years)
Sanctions and Irony and Fraud, Oh My!
- Aspen Homeowner Sentenced to 16-Yr Prison Sentence for Predatory Lending Scheme – U.S. District Judge Kevin Castel also sentenced co-defendant Timothy Muir, an attorney, to 7 years in prison
In Case You Missed It . . .
A Primer on Drafting Adversary Complaints, Counterclaims, Cross-Claims, and Third-Party Complaints
Click here for “. . . a framework for drafting complaints that will avoid unnecessary procedural motions and issues for the court and which will aid in the claimant’s obtaining the relief which is sought.”Judge Humphrey provides Academy members an excellent tool which can be found under The Toolbox tab in both the Definitions and Debtor Attorney categories.
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
FOR YOUR HEALTH (Not password protected)
Get Ready, Some Medical Experts Are Predicting Worst Flu Season in History
- Medical experts are bracing for one of the worst flu seasons in history.
- The main flu strain for 2017-18 is known as the H3N2 virus, and it is more deadly than the swine flu.
- The flu is now widespread in about 46 states, reports the CDC.
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January 8, 2018
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A Primer on Drafting Adversary Complaints, Counterclaims, Cross-Claims, and Third-Party Complaints
Click here for “. . . a framework for drafting complaints that will avoid unnecessary procedural motions and issues for the court and which will aid in the claimant’s obtaining the relief which is sought.”Judge Humphrey provides Academy members an excellent tool which can be found under The Toolbox tab in both the Definitions and Debtor Attorney categories.
Why Can’t I Get My Chapter 13 Plan Confirmed? (Or Simple Keys on How I Can Satisfy the Trustee So I Can Get Paid)
Attorney Stout describes three easy ways to pave the way for plan confirmation and, hopefully, get paid along the way.
In the Tech Department
- How to Protect Your PC Against the Major ‘Meltdown’ CPU Security Flaw – Everything we know so far
Credit Check Shake-Up
- US Considers Mortgage Credit Check Shake-Up – Critics complain current system is outdated and locks millions out of home ownership
For Your Blog
- Downside of Automatic 401(k) Savings: More Debt – New research finds employees auto-enrolled in retirement plans borrow more than they otherwise would have, offsetting savingsMessage to Clients: DON’T BORROW FROM YOUR 401(k)!
Student Loan Chronicles
- These Towns Will Help Pay Off Your Student Loan Debt If You Move There (May also be a good topic for your blog.)
- DeVos May Make It Harder for Students to Prove They Were Defrauded – Potential rule revisions from the Education Department would force students to meet a higher standard of evidence when seeking loan relief.
Sanctions and Irony and Fraud, Oh My!
- $119,000 Sanctions for Discharge Injunction Violations (Chapter 7 case)
In Case You Missed It . . .
Ask Ms. Ps & Qs
“ . . . an opinion is going to involve some juicy facts when this is the first sentence: “This Motion to Expunge an attorneys’ fee lien asserted by the debtors’ former attorney involves an important tool in the judicial toolbox for addressing the dilemma of counsel who incompetently represent debtors who have a meritorious case.”
MORTGAGE MATTERS (Not password protected)
Attention Mortgage Creditors On the Radar: Legal Experts on the Cases Shaping the Industry (skim down to The Shape of 2018—And Beyond)
Article: California Housing Issues For 2018
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
Nearly Half of All Cancer Deaths Linked to Preventable Risk Factors: Study. . .Not just cigarettes . . .
FOR YOUR HEALTH EXTRA (Not password protected)
Friends, Romaines, Countrymen – Lend Me Your Ears: Stay away from romaine lettuce, Consumer Reports advises
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January 1, 2018
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Archives |
Ask Ms. Ps & Qs
“ . . . an opinion is going to involve some juicy facts when this is the first sentence: “This Motion to Expunge an attorneys’ fee lien asserted by the debtors’ former attorney involves an important tool in the judicial toolbox for addressing the dilemma of counsel who incompetently represent debtors who have a meritorious case.”
Sorry Folks, There is No “Riding Through” This Town!
“ . . . Faced with these equally undesirable alternatives, clever attorneys came up with a fourth option – the ‘ride through’. This alternative, not found anywhere in the Code, could be used where Debtor was not in default under the loan agreement.”
This is one you definitely want to read!
CFPB Releases Report on State of Credit Card Market
Click here for highlights
Click here for entire report
Regarding the Supreme Court
From Our Friends at Credit Slips
For Your Blog
Sanctions and Irony and Fraud, Oh My!
- How to Get Away with Bankruptcy Fraud – Los Angeles is the nation’s hub for bankruptcy crime. Scammers prey on struggling homeowners with little fear of getting caught, because criminal enforcement of bankruptcy laws is rare.
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
E-commerce is Louisville’s Mixed Bag – There’s job growth, but wages can’t support a family
FOR YOUR HEALTH (Not password protected)
(You Go Massachusetts!)
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December 25, 2017
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Archives |
On behalf of the Board of Directors and Staff of the Academy, we are pleased to bring you a special Holiday poem by one of our very favorite Trustees . . .
T’WAS AN UGLY SWEATER
By Marie Ann Greenber
There once was a sweater;
It wasn’t that nice.
Nobody would wear it;
Not even the mice.
The sweaters were knit by hand with great care.
They’re ugly still.
Wear them; I dare!
The children were puzzled and scratching their heads.
Dad’s wearing that? They yelled with great dread.
And moms going to let him?
and I’m yelling NO!
Theirs brains must have left them.
Their heads filled with snow.
Then all of a sudden there was a loud sound.
We jumped from our seats and looked all around.
It came from the chimney.
We were ready to flee.
Then down came a girl;
And her name was Aly.
Her sweater was hideous.
Her plan insidious.
She seemed quite rogue –
Perhaps a subscription to Vogue?
She swapped every present and filled every stocking with sweaters so ugly –
A sight oh so shocking.
Put them on and let’s see. She said with great glee.
The ugly sweater is all the rage.
Even Beyoncé wears one on stage.
Who’s is the best? Who wins this contest?
They all shouted ME.
Mine is ugly! You see.
So year after year we all gather here.
To show off our sweater and see who’s is better.
Merry Christmas and Happy New Year!
In Case You Missed It . . .
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??
From The . . . Well . . . I’m Not Sure Where This is Coming From but Possible Freeze Could Affect Trustee Compensation
Sanctions and Irony and Fraud, Oh My!
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December 18, 2017
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Archives |
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.
Bankruptcy Court Refuses to Enforce Arbitration Clause for Claims Inextricably Bound Up with Bankruptcy Process
The Academy is pleased to have a new third year law student contributing author. Look for more great articles from Ms. Wisenberg.
/s/, A Signature; Not a Sword
“This trustee has found a growing number of attorneys who file petitions and other documents without first having an original signature. They are using the simple /s/ procedure not as a signature, but as a sword. . . .In the Eastern District of Virginia an attorney was declared a forger by the bankruptcy court for filing a bankruptcy without an actual signed petition.”
NEW THIS WEEK . . . An Unexpected Development
In response to Trustee Greenberg’s article above, we received the following comment:
The Central District of California has recently done away with the Electronic signing declaration entirely.
See LBR 9011‐1. SIGNATURES
(a) Holographic Signatures. Except as provided below, every signature on a filed document must be handwritten in ink (holographic). If the document is filed electronically then the filer must scan the signature page and insert it into the electronic (.pdf) version of the document filed with the court. Nothing in this local rule precludes the filing of a signature page that has been transmitted to the filer by facsimile or .pdf, provided that the filer promptly obtains the document bearing the signer’s original holographic signature and complies with LBR 9011‐1(d) below. Under no circumstances may a reproduction of the same holographic signature be used on multiple pages or in multiple documents. Each page that bears the signature of a person must actually have been signed by the person whose signature appears on such page.
Anybody else have an alternative signature local rule??? Click here to let us hear from you.
Prime Interest Rate Increases
From the ABA
- ABA Warns Judges of Ethical Problems Over Benches’ Internet Research – A formal opinion issued Friday from the ABA’s ethics committee outlines when judges should, or shouldn’t, use the internet for their own research.
For Your Blog
Sanctions and Irony and Fraud, Oh My!
IN CASE YOU MISSED IT…
In this series of articles, Beverly Burden and Larry Ahern have explained the changes to the Rules of Bankruptcy Procedure and the means by which the amendments bring more uniformity to chapter 13 practice.Click here for Part 1 – Claims: New Bar Dates and Other RequirementsClick here for Part 2 – Objections to ClaimsClick here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of ClaimsClick here for Part 4 – No Math Required? Avoiding Liens Under § 522(f)Click here for Part 5 – New National and Local Plans: Common Elements and Related IssuesClick here for Summary which highlights the changes to each rule and provides a cross-reference to the articles, which give a more in-depth analysis.Click here for Unresolved Issues
December 1, 2017 Rules Changes
In this series of articles, Beverly Burden and Larry Ahern have explained the changes to the Rules of Bankruptcy Procedure and the means by which the amendments bring more uniformity to chapter 13 practice.Click here for Part 1 – Claims: New Bar Dates and Other RequirementsClick here for Part 2 – Objections to ClaimsClick here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of ClaimsClick here for Part 4 – No Math Required? Avoiding Liens Under § 522(f)Click here for Part 5 – New National and Local Plans: Common Elements and Related IssuesClick here for Summary which highlights the changes to each rule and provides a cross-reference to the articles, which give a more in-depth analysis.Click here for Unresolved IssuesIN THE NEWS (Not password protected)
OF INTERESTS (Not password protected)
IN THE “OH MY” CATEGORY (Not password protected)
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
FOR YOUR HEALTH EXTRA (Not password protected)
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December 11, 2017
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/s/, A Signature; Not a Sword
“This trustee has found a growing number of attorneys who file petitions and other documents without first having an original signature. They are using the simple /s/ procedure not as a signature, but as a sword. . . . In the Eastern District of Virginia an attorney was declared a forger by the bankruptcy court for filing a bankruptcy without an actual signed petition.”
Slavery and Bankruptcy in America
Summary/Commentary
Professor Rafael Pardo has written an extensive and fascinating article to be published in an upcoming Vanderbilt Law Review. He has given us a sneak peek. AND Attorney Phil Lamos gives us a brief summary of the study and a present-day commentary. New this week . . .
- Data Analysis: Bankruptcy and Race in America
From the Justice Department
From Our Friends at Credit Slips and Other Info Regarding the CFPB
Student Loan Chronicles
- Survey: 34% of Students in Default Never Made a Payment – 48% expect to have loans forgiven
- Millions of Millennials Don’t Want Gifts This Holiday Season — The Reality Is Much Sadder
Sanctions and Irony and Fraud, Oh My!
OF INTEREST (Not password protected)
MILITARY MATTERS (Not password protected)
The Inconvenience of Being a Woman Veteran – When leaving the service, women are often faced with a slew of challenges as they try to assimilate into civilian life.
MORTGAGE MATTERS (Not password protected)
Article: Attorneys’ Attempt to Paint a Picture in Complicated Foreclosure Case Fails to Clarify Ownership – Underlying mortgage was passed around like the flu
FOR THE ACADEMIC SET (Not password protected)
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December 4, 2017
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December 1, 2017 Rules Changes – Part VI
Unresolved Issues
In this series of articles, Beverly Burden and Larry Ahern have explained the changes to the Rules of Bankruptcy Procedure and the means by which the amendments bring more uniformity to chapter 13 practice. This final article discusses two issues that will continue to be governed by local practice, rules, and judicial rulings.Click here for Part 1 – Claims: New Bar Dates and Other Requirements
Click here for Part 2 – Objections to Claims
Click here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of Claims
Click here for Part 4 – No Math Required? Avoiding Liens Under § 522(f)
Click here for Part 5 – New National and Local Plans: Common Elements and Related Issues
Click here for Summary which highlights the changes to each rule and provides a cross-reference to the articles, which give a more in-depth analysis.
Click here for Part 2 – Objections to Claims
Click here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of Claims
Click here for Part 4 – No Math Required? Avoiding Liens Under § 522(f)
Click here for Part 5 – New National and Local Plans: Common Elements and Related Issues
Click here for Summary which highlights the changes to each rule and provides a cross-reference to the articles, which give a more in-depth analysis.
From the Bankruptcy Courts
Slavery and Bankruptcy in America
Summary/Commentary
Professor Rafael Pardo has written an extensive and fascinating article to be published in an upcoming Vanderbilt Law Review. He has given us a sneak peek. AND Attorney Phil Lamos gives us a brief summary of the study and a present-day commentary.Bitcoins in the News
This is What Could Pop the Bitcoin Bubble
See also Academy resource: Bitcoins and Bankruptcy by Phil LamosNew Plans
Please check the attached list and send us a link to your plan if it is missing.Attached is the list of Plans. (Note that many of the form links will not open in Firefox but do open in Explorer.)
From our research (so far) ELEVEN Districts will be utilizing the National Form Plan: Northern District of Illinois; Northern District of Indiana; Northern and Southern Districts of Iowa; Western District of Kentucky; Western District of New York; Northern District of Ohio; District of Utah; District of Vermont, Western District of Virginia; and the District of Wyoming.
From the Bankruptcy Courts – New Clerkship Position
United States Bankruptcy Court Montgomery, AL
Term: 2 Years
Clerkship Type: Term Law Clerk-Chambers
Application Deadline: Dec 31, 2017
Term Start Date: Aug 22, 2018
Term: 2 Years
Clerkship Type: Term Law Clerk-Chambers
Application Deadline: Dec 31, 2017
Term Start Date: Aug 22, 2018
From the United States Trustee
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
More Americans Are Worried About Their Finances – Despite record market highs, low wage increases and rising debt have U.S. workers on edge, a new survey finds.
BY THE NUMBERS (Not password protected)
5 Charts Show the Strength of the Recovery – Some of the most basic measures have passed pre-recession peaks to reach new highs.
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November 27, 2017
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New Plans
Please check the attached list and send us a link to your plan if it is missing. Attached is the most recently updated list of Plans*. (Note that many of the form links will not open in Firefox but do open in Explorer.)
From our research (so far) ELEVEN Districts will be utilizing the National Form Plan: Northern District of Illinois; Northern District of Indiana; Northern and Southern Districts of Iowa; Western District of Kentucky; Western District of New York; Northern District of Ohio; District of Utah; District of Vermont, Western District of Virginia; and the District of Wyoming.
Newly added to above list: District of Vermont
*The District of Kansas Plan has been updated.
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
OF INTEREST (Not password protected)
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November 20, 2017
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Archives |
December 1, 2017 Rules Changes Part V
New National and Local Plans: Common Elements and Related Issues
The Rules of Bankruptcy Procedure are being amended this year in ways that will significantly affect chapter 13 trustees and practitioners. In this series, Larry Ahern and Beverly Burden will explain these changes. In this fifth part of the series, the authors discuss chapter 13 plan requirements and the elements common to all chapter 13 plans.Click here for Part 1 – Claims: New Bar Dates and Other RequirementsClick here for Part 2 – Objections to Claims
Click here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of Claims
Click here for Part 4 – No Math Required? Avoiding Liens Under § 522(f)
New Plans
Thank you to those who responded with a link to your District’s Chapter 13 Plan. Attached is the most recently updated list of Plans. Note that many of the form links will not open in Firefox but do open in Explorer. From our research (so far) TEN Districts will be utilizing the National Form Plan: Northern District of Illinois; Northern District of Indiana; Northern and Southern Districts of Iowa; Western District of Kentucky; Western District of New York; Northern District of Ohio; District of Utah; Western District of Virginia; and the District of Wyoming. ***Note that the Southern District of Indiana has been omitted from last week’s list and the Western District of Virginia has been added.***
Please check the attached list and send us a link to your plan if it is missing. Thank you for your assistance.
A Fond Farewell
Beloved Albuquerque Trustee Retiring Soon
By the Numbers
(Good news for consumer bankruptcy industry.)
Bitcoins in the News . . . Again
Special Report: Twice Burned – How Mt. Gox’s Bitcoin Customers Could Lose Again
See also Academy resource: Bitcoins and Bankruptcy by Phil Lamos
Many Older Americans are Living a Desperate, Nomadic Life
Click here for Nomadland at Amazon
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
IN CASE YOU MISSED IT…
Critical Case Comment
No Trustee Percentage Fee Says One Court
A Chapter 13 trustee is not permitted to retain the trustee’s percentage fee on payments made in cases where a Chapter 13 plan is not confirmed; the trustee is under a statutory obligation to return all funds, including the trustee’s percentage fee, to the debtor.
IN THE NEWS (Not password protected)
MILITARY MATTERS (Not password protected)
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: How Canadian Homes Became Debt Traps
MBA Report: Mortgage Applications Up
Article: Hurricane Mortgage Relief
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November 13, 2017
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Archives |
Critical Case Comment
A Chapter 13 trustee is not permitted to retain the trustee’s percentage fee on payments made in cases where a Chapter 13 plan is not confirmed; the trustee is under a statutory obligation to return all funds, including the trustee’s percentage fee, to the debtor.
December 1, 2017 Rules Changes Part IV
No Math Required? Avoiding Liens Under § 522(f)
We regret that parts of Part IV did not post properly last week. It has been reposted as a PDF. We regret any inconvenience.The Rules of Bankruptcy Procedure are being amended this year in ways that will significantly affect chapter 13 trustees and practitioners. In this series, Larry Ahern and Beverly Burden will explain these changes. In part four of the series, the authors describe a nifty tool in the “national plan” that can be used as a part of any local plan or motion to calculate the amount of lien avoidance available under section 522(f).Click here for Part 1 – Claims: New Bar Dates and Other Requirements
Click here for Part 2 – Objections to Claims
Click here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of Claims
The Rules of Bankruptcy Procedure are being amended this year in ways that will significantly affect chapter 13 trustees and practitioners. In this series, Larry Ahern and Beverly Burden will explain these changes. In part four of the series, the authors describe a nifty tool in the “national plan” that can be used as a part of any local plan or motion to calculate the amount of lien avoidance available under section 522(f).Click here for Part 1 – Claims: New Bar Dates and Other RequirementsClick here for Part 2 – Objections to Claims
Click here for Part 3 – Security, Priority & Avoidance: New Rules for “Treatment” of Claims
New Plans
Thank you to those who responded with a link to your District’s Chapter 13 Plan. Attached is the beginning of The Academy’s efforts to comprise an exhaustive list of Plans.
From our research (so far) TEN Districts will be utilizing the National Form Plan: Northern District of Illinois; Northern District of Indiana; Northern and Southern Districts of Iowa; Western District of Kentucky; Western District of New York; Northern District of Ohio; District of Utah; Western District of Virginia; and the District of Wyoming.
Please check the attached list and send us a link to your plan if it is missing. Thank you for your assistance.
By the Numbers
Bankruptcy Filings Spike in October
(Great news for those of us in the consumer bankruptcy business!)Slight increase in total bankruptcy filings reflects changes from September this year and October 2016.
From the Supreme Court
Oral arguments heard 11/6 in Merit Management Group, LP v. FTI Consulting, Inc.
Issue: Whether the safe harbor of Section 546(e) of the Bankruptcy Code prohibits avoidance of a transfer made by or to a financial institution, without regard to whether the institution has a beneficial interest in the property transferred, consistent with decisions from the U.S. Courts of Appeals for the 2nd, 3rd, 6th, 8th, and 10th Circuits, but contrary to the decisions from the U.S. Courts of Appeals for the 7th and 11th Circuits.
Student Loan Chronicles
IN CASE YOU MISSED IT…
Judicial Estoppel – The Eleventh Circuit Reexamines the Standard for its Application in Bankruptcy Cases
“. . . This new standard may open the window for additional assets in bankruptcy cases to benefit creditors which might otherwise be lost to the estate.”
MILITARY MATTERS (Not password protected)
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November 6, 2017
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Archives |
Shout Out to the Wonderful Folks
at the Credit Education Coalition Seminar
in Columbus, Ohio
GREAT educational meeting.
The Academy connected with many old
friends and made many new ones.
Thank you for inviting us.
Judicial Estoppel – The Eleventh Circuit Reexamines the Standard for its Application in Bankruptcy Cases
“. . . This new standard may open the window for additional assets in bankruptcy cases to benefit creditors which might otherwise be lost to the estate.”
Meet the New Trustee
The ‘Women of Atlanta’ group continues to grow as Davey is appointed Chapter 13 Standing Trustee, replacing relocating Adam Goodman.
From the Bankruptcy Courts
Student Loan Chronicles
IN THE NEWS (Not password protected)
OF INTERESTS (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: Homes Are Getting Snapped Up at the Fastest Pace in 30 Years – The typical U.S. home lasted just three weeks on the market, according to a new report.
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October 30, 2017
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Critical Case Comment
Where a mortgage servicer fails to provide a detailed accounting when it disputes a trustee’s notice of final cure payment and fails to provide a timely response to the notice, the failure of the mortgage servicer’s counsel to comply with the deadlines set by the court justifies an award of attorney’s fees and an order precluding the introduction of any contrary information in the bankruptcy case or any subsequent case; the mortgage servicer was precluded from introducing any evidence that the mortgage obligation was not current and would be bound by a judicial conclusion that the mortgage was current.
Student Loans and the Elderly: How to Stop Student Loan Collectors and Social Security Garnishment
“The number of Americans age 60 and older with student loan debt quadrupled between 2005 and 2015 to nearly 3 million. And the average amount they owe has nearly doubled from 12-thousand dollars to almost 24-thousand.”
UPDATED Quick Reference Guide to 2017 Changes to Federal Rules of Bankruptcy Procedure Affecting Chapter 13 Cases
Back in July, The Academy first posted Trustee Burden’s Quick Reference Guide which is a summary of certain changes to the Federal Rules of Bankruptcy Procedure effective December 1st. She has now UPDATED this ‘must have’ tool.
New Trustee Has Need for Speed
“Helbling was appointed subsequent to the retirement of Craig Shopneck who served the Cleveland district for fifteen years.”
Farm Bankruptcy Relief Bill Sent to Trump
Previously Run Link: Senate Tries to Aid Bankrupt Farmers
From Our Friends at Credit Slips
For Your Blog
Taxpayers Who are Victims of Domestic Abuse Should Know Their RightsDomestic abuse often includes control over finances. An important part of managing finances is understanding one’s tax rights. Taxpayers have the right to expect the IRS to consider facts and circumstances that might affect the individual’s taxes.
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
- Oakland County Attorney Sentenced to Prison 1 Year After Release From Jail in Fake Mortgage Scheme – Steven Ruza sentenced to 2.5 to 15 years in prison
IN THE NEWS (Not password protected)
- Equifax Could Face Punitive Damages for Failing to Check Court Record – Chapter 13 Judge
- ‘This Is Unacceptable’: ProPublica Story on Bankruptcy in Memphis Prompts City Council Soul-Searching – The story detailed how the city’s poor black residents are steered into bankruptcy plans that are doomed to fail.
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
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October 23, 2017
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Reconversion Fees – To Pay or Not To Pay That Is the Question of the Day
“If a case has previously been a Chapter 7, and there is cause to ask it to be removed from the Chapter 13 world and go back to Chapter 7, we file a Motion to Reconvert. Recently, the Clerk informed us of a new procedure . . .”
Bankruptcy Judge Receives Award
Bankruptcy Judge Mary F. Walrath Receives Prestigious Judge William L. Norton, Jr. Judicial Excellence Award
Newly Updated Conduit List
As of November 1st, the Western District of Texas will be conduit.
We have also corrected an error reflected in the Eastern District of Tennessee. The entire state of Tennessee is conduit.
From the CFPB
From the Bankruptcy Courts
Sanctions and Irony and Fraud, Oh My!
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
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October 16, 2017
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Archives |
December 1, 2017 Rules Changes – Part 2
Objections to Claims
The Rules of Bankruptcy Procedure are being amended this year in ways that will significantly affect chapter 13 trustees and practitioners. In this series, scheduled to run before the December 1 effective date, Beverly Burden and Larry Ahern will explain these changes. In this second part of the series, the authors describe the new rules related to objections to claims and related issues.Click here for Part 1 – Claims: New Bar Dates and Other RequirementsAnother New Critical Case Comment . . . Potentially a Precedent Setting Case
Critical Case Comment
Above-median income debtors are required to contribute to their Chapter 13 plans the amount of any voluntary 401(k) loan repayment after that loan has been satisfied; voluntary contributions to a 401(k) account would be limited to 3% of the debtor’s income.
Southern District of Ohio New Plan
2017 Proposed Revisions to the District Wide Mandatory Form Plan and the Confirmation Order
From the Bankruptcy Courts
Term Law Clerk Opening – Tacoma, WA
Application Deadline: When Filled
For Your Blog
- Researchers Find 450,000 Financial Scams Operating on Social Media – Each successful attack can cost victims tends of thousands of dollars.
Student Loan Chronicles
Sanctions and Irony and Fraud, Oh My!
IN CASE YOU MISSED IT…
Do Secured Claims Need to Be Provided for By The Plan?
“Part 3 of the national form plan has five sections dealing with secured claims, but does not address whether all secured claims must be provided for by the plan.”
IN THE NEWS (Not password protected)
Fees for Defending Fees – Recent Rulings Permit Contractual Circumvention of Supreme Court’s Baker Botts v. Asarco Decision
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: New 30-Year Loan Program for Manufactured Homes Launched in New Hampshire – New Hampshire is one of the first states to pass legislation recognizing manufactured homes located in resident-owned communities as real property
Article: Goldman-Sachs To Buy Genesis Capital
FOR YOUR HEALTH (Not password protected)
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October 9, 2017
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Critical Case Comment
“As long as Chapter 13 debtors are properly allocating tax refunds, earned income credit payments and irregular expenses properly, they cannot be compelled to turn over their tax refunds to confirm their Chapter 13 plan.”
Do Secured Claims Need to Be Provided for By The Plan?
“Part 3 of the national form plan has five sections dealing with secured claims, but does not address whether all secured claims must be provided for by the plan.” Do we see objections on the horizon??
From the CFPB
CFPB Issues Interim Final Rule to Help Mortgage Servicers Communicate with Certain Borrowers at Risk of Foreclosure
Click here for interim final rule on mortgage servicer communication flexibility
Click here for proposed rule on periodic statementsSee also: U.S. Regulator Eases Part of New Mortgage Servicing Rules
And in other CFPB matters . . .
Consumer Protection Bureau Cracks Down on Payday Lenders with Tough Nationwide Regulations
Click here for proposed rule on periodic statementsSee also: U.S. Regulator Eases Part of New Mortgage Servicing Rules
And in other CFPB matters . . .
Consumer Protection Bureau Cracks Down on Payday Lenders with Tough Nationwide Regulations
From the UST
Chapter 7 Panel Trustee Advertisements
Location: Eastern District of California (primarily Redding)
Application Due Date: November 3, 2017
Application Due Date: November 3, 2017
From the Bankruptcy Courts
Term Law Clerk Opening – Tacoma, WA
Application Deadline: When Filled
For Your Blog
The IRS Will NOT Call You to Demand Payment
Phone calls continue to be one of the most common ways thieves try to get taxpayers to provide personal information . . . Sometimes the scammer tells the taxpayer they owe money and must pay right away OR they might say the person has a refund waiting, and then they ask for bank account information over the phone.
Disaster Related From the IRS
IRS Provides Tax Relief to Residents of Puerto Rico and the Virgin Islands
Webinar: Office Security
Another great resource . . . Trustees Deb Miller and Debbie Langehennig present this 42-minute training designed for the entire office, both professionals and support staff. This webinar teaches the importance of having office procedures in place for all types of breach in security such as intruders, workplace violence and receipt of suspicious packages.
Sanctions and Irony and Fraud, Oh My!
IN CASE YOU MISSED IT…
United States Trustee Challenges Practice of Filing Time-Barred Claims
“ . . . the court found that the fixing of a signature to a proof of claim by a person who had no role in the preparation of that proof of claim was inconsistent with the bankruptcy rules and the instructions on the proof of claim; however, . . .”
IN THE NEWS (Not password protected)
MORTGAGE MATTERS (Not password protected)
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October 2, 2017
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Two For One
In a Two for One special, Attorney Moran brings Academy readers two articles addressing mortgage servicing issues and the power of Rule 3002.1.
Mortgage Servicing Under the Microscope
The judge looked closely at the creditor’s accounting records and found the usual fright . . . then holding secured creditor in contempt of stay and confirmation order for its loan servicing blunders.
Chronicles of Bankruptcy Rule 3002.1
A homeowner should emerge from Chapter 13 knowing exactly what she owes on her mortgage; thus we have FRBP 3002.1 said Judge Hannah Blumenstiel.
Ask Ms. Ps & Qs
Ms. Ps & Qs brings readers a doozy! In its attorney/client contract, the firm actually used the adjective “bare-bones.”Have an ethics question? Feel free to submit it by clicking here.
United States Trustee Challenges Practice of Filing Time-Barred Claims
“ . . . the court found that the fixing of a signature to a proof of claim by a person who had no role in the preparation of that proof of claim was inconsistent with the bankruptcy rules and the instructions on the proof of claim; however, . . .”
Big News From Equifax . . . That Has Nothing To Do With The Data Hack
Equifax Makes Bankruptcy Change That Affects Hundreds of Thousands — For years, Equifax policy has treated some Chapter 13 filers differently than the other two credit rating agencies. Equifax now says it will change the policy.
For Your Blog
- 90% of Americans Don’t Like to Cook — and it’s costing them thousands each year
Webinar: Reviewing an Escrow Analysis the Second Year of Bankruptcy
Chapter 13 Trustee Debra Miller and expert Michael McCormick bring a practical outline on how to review those pesky escrow statements and what to specifically look for in the second year of bankruptcy.
From Our Friends at Credit Slips
Sanctions and Irony and Fraud, Oh My!
IN CASE YOU MISSED IT…
Undisclosed Assets, Voluntary Dismissal, And Section 349 – Oh, What A Tangled Webs We Weave
“What happens when a Chapter 13 Debtor does not disclose property of the estate, the Trustee later discovers the property and seeks to administer the property for the benefit of creditors, and the Debtor voluntarily dismisses the case to prevent the Trustee from doing so?”
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
MORTGAGE MATTERS (Not password protected)
Article: New Home Sales Hit 8 Month Low
Article: Housing Market Stalled
IN THE TECH DEPARTMENT (Not password protected)
Apple Cuts Cookies – But There Is More To Come In The Online Advertising Arms Race – Apple’s latest software update has enraged companies who have been using cookies to track users across the web
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September 25, 2017
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Archives |
December 1, 2017 Rules Changes – Part I
Claims: New Bar Dates and Other Requirements
As you know, the Rules of Bankruptcy Procedure are being amended this year in ways that will significantly affect chapter 13 trustees and practitioners. In this series, scheduled to run before the December 1 effective date, Beverly Burden and Larry Ahern will explain these changes individually. Part 1 of the series describes the new rules related to claims bar dates and related issues.Undisclosed Assets, Voluntary Dismissal, And Section 349 – Oh, What A Tangled Web We Weave
“What happens when a Chapter 13 Debtor does not disclose property of the estate, the Trustee later discovers the property and seeks to administer the property for the benefit of creditors, and the Debtor voluntarily dismisses the case to prevent the Trustee from doing so?”
Loss of Purchase-Money Protection in 1325 Cramdowns – Follow-Up
Click here for Part IClick here for Part II
Click here for Part IIIThe Academy received a follow-up question regarding this series and we are pleased to post the Q & A:Q: What is your opinion on a subsequent loan that is cross-collateralized with a 910 loan?
A: While ‘opinion’ is a strong word, here’s the response: “The drafters of Article 9 in 2001 left the question open for courts to follow existing law, or not. See Part 1 of the series. So, if there has not been a decisive ruling in the jurisdiction since 2001, you should be free to argue either way.”
Conduit Trusteeships
Click here for a NEWLY UPDATED list of Trusteeships which primarily (or not) pay mortgage payments through the trustee’s office – i.e. Conduit Changes have been made to South Carolina and the Western District of Texas.
Disaster Related
All of Georgia Now Eligible for Disaster Tax Relief
Hurricane Irma victims in the entire state of Georgia now have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments.
From Our Friends at Credit Slips
From the CFPB
CFPB Amends Rules to Provide Flexibility and Clarity to Certain Mortgage Lenders in Collecting Information – Bureau Also Seeks Public Comment on Proposal for Disclosure of Mortgage DataThe CFPB modified Equal Credit Opportunity Act (ECOA) regulations to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information. Click here for the final rule on ECOA issued 9/20/17.
Chapter 12 In The News
Student Loan Chronicles
- CFPB Takes Action Against National Collegiate Student Loan Trusts, Transworld Systems For Illegal Student Loan Debt Collection Lawsuits – All 800,000 Loans Will Be Independently Audited, Companies Will Pay at Least $21.6 Million and Stop Suing for Invalid or Unverified Debts
Sanctions and Irony and Fraud, Oh My!
IN CASE YOU MISSED IT . . . The Academy has an excellent resource . . .
Webinar: Reviewing an Escrow Analysis the Second Year of Bankruptcy
Chapter 13 Trustee Debra Miller and expert Michael McCormick bring a practical outline on how to review those pesky escrow statements and what to specifically look for in the second year of bankruptcy.
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
UST Director Addresses the 35th Annual Convention of the National Association of Bankruptcy Trustees
State Attorneys General Ask Equifax to Stop Selling Credit Monitoring Services: Company seems to be using breach as sales opportunity, AGs say Equifax said last week hackers accessed data of 143 million
MORTGAGE MATTERS (Not password protected)
Article: Foreclosures Jump in August
Editorial: How Student Debt Affects the Housing Crisis
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
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September 18, 2017
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Archives |
Loss of Purchase-Money Protection in 1325 Cramdowns – Part III
“Prompted by recent bankruptcy court decisions, the purpose of this multi-part article is to review the rules under § 1325 and the UCC and help practitioners understand this arcane area.”In Part I, Larry Ahern reviewed the underlying rules governing PMSIs in consumer transactions.
In Part II, he discusses two recent cases that favored the debtor (one in a surprising way).
Conduit Trusteeships
Click here for a NEWLY UPDATED list of Trusteeships which primarily (or not) pay mortgage payments through the trustee’s office – i.e. Conduit Changes have been made to South Carolina and the Western District of Texas.
Disaster Related
Harvey’s Hit to Mortgages Could Be Four Times Worse Than Predicted—and Then There’s Irma
- As many as 300,000 borrowers could become delinquent on their loans after Hurricane Harvey, Black Knight Financial Services says.
- That is four times the original prediction because new disaster zones were designated and more homes flooded.
- The sheer volume of homes hit by Hurricane Irma will likely cause an increase in mortgage delinquencies as well, though the storms are difficult to compare.
From the UST
Trusteeship Opening
Standing Trustee for the Southern District of New York – Manhattan, White Plains and PoughkeepsieApplication Deadline: September 22, 2017
From the Bankruptcy Courts
Term Law Clerk Opening – Toledo, Ohio
Application Deadline: September 29, 2017
Career Law Clerk Opening – Columbus, Ohio
Application Deadline: September 22, 2017
For Your Blog
Student Loan Chronicles
- Trump’s Education Department Delays Student Loan Forgiveness – Tens of thousands of former students who say they were swindled by for-profit colleges are being left in limbo as the Trump administration delays action on requests for loan forgiveness, according to court documents obtained by The Associated Press.
Sanctions and Irony and Fraud, Oh My!
- (Same case as above) Wealth Manager Doug Jennings Pleads Guilty to Bankruptcy Fraud, Tax Evasion – Rancho Santa Fe couple pleads guilty to charges in a multi-million dollar bankruptcy fraud and tax evasion case.
IN CASE YOU MISSED IT . . .
When Mortgage Lenders Monkey With Your Client’s Loan
Spoiler Alert: Borrowers are an expendable resource in home loan servicing only to be exploited for fees and charges.
OF INTEREST (Not password protected)
An Employee of a Stock Broker is not a Stock Broker for Bankruptcy Purposes (Chpt 7 case)
United States v. Coleman – In a criminal case, the Sixth Circuit considers the relationship between “fringe” protestor legal arguments and mental competency
United States v. Coleman – In a criminal case, the Sixth Circuit considers the relationship between “fringe” protestor legal arguments and mental competency
MORTGAGE MATTERS (Not password protected)
Article: Is Major RESPA Battle Between Zillow and CFPB Imminent? – Company’s stock hangs in the balance
Article: Mortgage Rates Hold at 2017 Lows
Article: Mortgage Delinquency Rates Fall in June – downward trend is expected to continue
MILITARY MATTERS (Not password protected)
FOR YOUR HEALTH (Not password protected)
Get Up at Least Once Every 30 Minutes – Failure to do so may shorten your life, study finds
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September 11, 2017
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Florida, Georgia, Alabama, Texas, Louisiana, and Puerto Rico: Our thoughts and prayers are with you. Our hearts go out to all those touched by this series of hurricanes – both directly or indirectly. |
Disaster Related
- IRS Urges Taxpayers to Prepare for Hurricanes, Floods and Other Disasters
For September’s National Preparedness Month, the IRS offers advice to taxpayers who may be affected by storms, fires, floods or other disasters reminding them that the agency is here to help, including offering a special toll-free number (866-562-5227) to taxpayers in federally-declared disaster areas that’s staffed with IRS specialists trained to handle disaster-related issues.
Loss of Purchase-Money Protection in 1325 Cramdowns – Part II
In Part I, Larry Ahern reviewed the underlying rules governing PMSIs in consumer transactions.In this Part II, he will discuss two recent cases that favored the debtor (one in a surprising way).
Next week, in Part III, Christina Parrish will set up a complex fact situation and provide a roadmap for the debtor to show that a PMSI no longer exists, when a subsequent transaction operates to extinguish the PMSI, thereby allowing a “cram-down.”
From the UST
Trusteeship Opening
Standing Trustee for the Southern District of New York – Manhattan, White Plains and PoughkeepsieApplication Deadline: September 22, 2017
From the Bankruptcy Courts
Term Law Clerk Opening – Toledo, Ohio
Application Deadline: September 29, 2017
Career Law Clerk Opening – Columbus, Ohio
Application Deadline: September 22, 2017
Well Known Appellate Judge Suddenly Retires
Student Loan Chronicles
- Trump Sets 2.1% Pay Raise for Troops, 1.9% for Federal Workers (“Federal Workers” including Trustees????)
Student Loan Chronicles
- Education Dept. Ends Partnership with CFPB – Dept. of Ed. quietly ended a collaboration with the CFPB to share information
Sanctions and Irony and Fraud, Oh My!
- CFPB Takes Action Against Zero Parallel for Steering Consumers Toward Bad Deals – Bureau Orders Zero Parallel and Its Owner to Pay $350,000 and Stop Their Abusive Practices
IN CASE YOU MISSED IT . . .
Loss of Purchase-Money Protection in 1325 Cramdowns – Part I
Prompted by recent bankruptcy court decisions, this article reviews the rules under § 1325 and help practitioners understand this arcane area. This week, in Part I, Larry Ahern reviews the underlying rules governing PMSIs in consumer transactions.
IN THE NEWS (Not password protected)
OF INTEREST (Not password protected)
When is it Too Late to Reopen a Bankruptcy for Distributing Newly Discovered Assets — Never?! (Follow up to article posted 7/31/17)
MORTGAGE MATTERS (Not password protected)
Article: Attention Michigan Practitioners
$40M In Aid Available For Michigan Homeowners Facing Foreclosure
$40M In Aid Available For Michigan Homeowners Facing Foreclosure
MILITARY MATTERS (Not password protected)
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September 4, 2017
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Corpus Christi, Houston, Orange, Rockport, San Antonio, Beaumont, Spring, Refugio, Clodine, Aransas Pass, Dickinson, Rosenberg, Pearland, Fulton, Katy, Alvin, Friendswood, League City, Pasadena, Seabrook, Lumberton, Webster, Port Arthur, and all the towns and cities in between, our thoughts and prayers are with you. Our hearts go out to all those touched by Harvey – directly or indirectly. |
Harvey Related
- Fannie Mae, Freddie Mac Suspend Foreclosures and Evictions in Wake of Hurricane Harvey – GSEs halt foreclosure efforts in affected areas for 90 days
An interesting side story . . .
From the UST
Trusteeship Opening
Standing Trustee for the Southern District of New York – Manhattan, White Plains and PoughkeepsieApplication Deadline: September 22, 2017
Conduit Trusteeships
Click here for a list of Trusteeships which primarily (or not) pay mortgage payments through the trustee’s office – i.e. Conduit
In the “Greatest Hits” Category
Quick Reference Guide to 2017 Changes to the Federal Rules of Bankruptcy Procedure Affecting Chapter 13 Cases
Trustee Burden shares a jewel of a resource. This Quick Reference Guide is a summary of certain changes to the Federal Rules of Bankruptcy Procedure to be effective December 1, 2017.
IN CASE YOU MISSED IT . . .
Loss of Purchase-Money Protection in 1325 Cramdowns – Part I
Prompted by recent bankruptcy court decisions, this article reviews the rules under § 1325 and help practitioners understand this arcane area. This week, in Part I, Larry Ahern reviews the underlying rules governing PMSIs in consumer transactions.
IN THE NEWS (Not password protected)
Court Gets It Wrong on Exempt Property as Disposable Income (or did they get it right? – click here to weigh in)
MORTGAGE MATTERS (Not password protected)
JUST FOR FUN (Not password protected)
