Reaffirmation, Redemption And Surrender Of Personal Property Vs. “Ride Through” In Chapter 7 Cases

Reaffirmation, Redemption And Surrender Of Personal Property Vs. “Ride Through” In Chapter 7 Cases – Part I of III

By James F. Molleur, Esq., Molleur Law Office, Biddeford, Maine
(Republished with permission. Originally published at the Thirty-Ninth Annual Southeastern Bankruptcy Law Institute, March 21, 2013, Atlanta, Georgia)

Section 521(a)(2) Statement of Intention

To begin at the beginning, Section 521(a)(2) defines a debtor’s rights and obligations regarding secured debts upon filing a Chapter 7 bankruptcy petition. Section 521(a)(2) reads as follows:

(a) The debtor shall—

(2) if an individual debtor . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

How My Law Firm Learned to Stop Leaving Money on the Table Part 2 – The “Other Appropriate Relief” of Rule 3001

Mark C. Leffler

May 8, 2022

At my firm, we see a lot of consumers who have some combination of high debt and low income. Many of them arrive for their consultations after having been abused by debt collectors and predatory lenders, harmed by mortgage servicing errors, or subjected to inaccurate and derogatory credit reporting. Until fairly recently, after filing bankruptcies for these folks, we usually...

Members

Dollar Amount Increases in Bankruptcy Code

March 3, 2019

By William Houston Brown, United States Bankruptcy Judge, Retired; Editor/Adviser, The Academy On April 1, 2019, an increase takes effect in those dollar amounts in the Bankruptcy Code that are subject to adjustment every three years.1 The following increases have significance in everything from the eligibility maximums for filing under Chapters 12 and 13 to the debtor’s exemptions. Relevant Official...

From the Other Side

January 19, 2020

By Craig Shopneck, Chapter 13 Standing Trustee for the Northern District of Ohio Retired It was many months ago when Mike Joseph asked, if, as a retired trustee, would I be interested in writing an article for the NACTT Academy. This may seem like a rather straightforward task but before putting pen to paper I needed time to reflect not...

Members

Kristina Stanger and Jessica Hopton Youngberg

November 3, 2019

Kristina Stanger is an attorney and shareholder at Iowa’s Nyemaster Goode, P.C. She is also a combat-experienced Lieutenant Colonel in the Iowa Army National Guard. She is currently one of Iowa’s highest ranking females and is the Chief of Plans and Operations for the Iowa Army National Guard. Jessica Hopton Youngberg is Senior Staff Attorney for Veterans Legal Services in...

Conflicting Interpretations: A Chapter 13 Trustee’s Compensation After Pre-Confirmation Dismissal or Conversion*Part 1 of 3

Brittani Bushman

January 30, 2022

(Used with expressed permission from the MI Bankruptcy Journal and the Steven W. Rhodes Consumer Bankruptcy Conference) I. Introduction Although the Bankruptcy Code has been around for decades, bankruptcy courts continue to be faced with significant disputes regarding the interpretation of its provisions. An emerging issue that has gained traction in recent years involves the compensation of a chapter 13...

Members

A Few of Our Favorite (Chapter 13) Things

December 20, 2020

(To be sung to the tune of Julie Andrews’ version of “These Are a Few of My Favorite Things” from The Sound of Music) Raindrops on roses, and whiskers on kittens, Bright copper kettles and warm woolen mittens– Hey, wait a minute, that’s not what I mean; It’s time that we focus on Chapter Thirteen. We’ve been Trustees for so...

CARES Act Rebates and Domestic Support Arrears

May 10, 2020

By Elizabeth Gunn, Assistant Attorney General, Virginia Division of Child Support Enforcement, Bankruptcy Specialisti In late April, the federal government began issuing economic impact rebate payments to qualifying individuals under the CARES Act. While the CARES Act specifically identified and exempted the rebate payments from reduction or offset against certain debts including federal taxes and student loans in default, the...

Members

Chapter 13 No-Look Fees

The NACTT Emeritus Trustees

December 10, 2023

As a follow-up to The Academy’s December 3, 2023, issue, three Emeritus Trustees weighed in. Last week’s issue included Cathy Moran’s Chapter 13 NoLook Fees: The Horns of a Dilemma and Trustee Hildebrand’s You Gotta Fix Your Own Screw-ups, On Your Own Dime. You may also want to take note of the comments on each article and add your own.

Members

Kellner Retires

September 29, 2019

By Academy Staff Jeffrey M. Kellner graduated from THE Ohio State University in 1975. Between then and entering law school, Jeff worked in Montana for the park service. He graduated from Capital University College of Law in 1985. After law school, he worked for two years as a law clerk for Judge Calhoun in Columbus, OH. He then went to...

Bankruptcy Threshold Adjustment and Technical Corrections Act

Henry E. Hildebrand, III

June 12, 2022

A new day is coming to high debt borrowers seeking to file Chapter 13 but confounded by the debt limits imposed by 11 U.S.C. § 109(e). Although debt limits have been increasing since the effective date of the Code in 1979, consumer debts have been increasing at a far more rapid rate. Starting in 2009, when the housing crisis first...

Members