“Cure and Maintain” in Chapter 20? Not in Canton, You Don’t!

By Academy Staff

The concept of a “Chapter 20” has been around as long as the Bankruptcy Code. Debtor files for relief under Chapter 7 and receives a discharge. Then Debtor files a Chapter 13 to “cure and maintain” a mortgage arrearage. Perhaps because the Debtor was in default on the mortgage when the Chapter 7 was filed but Debtor needed some relief in the Chapter 7 before filing a Chapter 13 (possibly because Debtor’s unsecured debts raised debt limit issues under Section 109); maybe by receiving the Chapter 7 discharge, the Debtor is now able to . . .

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By David Cox,1 Cox Law Group, PLLC (Lynchburg, VA) Some Basics about Secured Claim Treatment in Chapter 13 What is a Secured Claim under § 506(a)? Secured by a lien on property of the debtor’s bankruptcy estate. Some value in the property to which the lien may attach. Must be secured by property that is property of the debtor’s bankruptcy...

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From the Editor

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