One District’s Response To The Influx Of Loan Modifications In Bankruptcy Cases: District Of New Jersey

By Brian Knapp, Attorney Representing the Chapter 13 Trustee District of New Jersey (Fairfield)

As we now know, loan modifications have an impact on a Chapter 13 Trustee’s ability to administer cases, but they also impact the overall efficiency of the Court and its ability to manage its own docket. In an effort to streamline the process and open the lines of communication between parties, the United States Bankruptcy Court for the District of New Jersey, entered a General Order adopting a Loss Mitigation Program (“LMP”) on July 29, 2011.

The Court determined that a uniform, comprehensive . . .

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