In re Traverse and the Chapter 7 Trustee’s Power to Sell Property: UPDATE

By Kenneth Siomos, Attorney Representing Chapter 13 Trustee John H. Germeraad, Petersburg, IL

On January 4, 2015, ConsiderChapter13.org published my article criticizing the First Circuit’s interpretation of a Chapter 7 Trustee’s sale powers under § 363 of the Bankruptcy Code in instances in which a debtor is current on an avoided mortgage.i My main criticism was that the First Circuit was extending a pragmatic, general approach of not . . .

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Rescuing a Troubled Chapter 13: The Unseen Threat

February 24, 2019

By Cathy Moran, Esq. (Redwood City, CA) We all get sucked in, at some time, to try and rescue a Chapter 13 bankruptcy case gone bad. Make sure that you don’t let a bad situation get worse. Get your arms around §109(g). When only a do-over will do, don’t wait around. No Payments for Months The debtor came to me...

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From the Editor – Confirmation

March 8, 2020

By The Honorable William Houston Brown (Retired) Good faith in plan proposal. Plan was proposed in good faith, although petition was filed only 21 days after purchase of vehicle, when plan adequately protected creditor against risk of depreciation. Opinion reviews good faith factors for plan proposal. In re Sharp, 608 B.R. 546 (Bankr. D. Kan. 2019). Compare In re Broder,...

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New and Revised Bankruptcy Forms

November 10, 2019

By William Houston Brown, Editor and Adviser, NACTT Academy for Consumer Bankruptcy Education, Inc. Several Official and Director’s Forms related to bankruptcy filings are revised and some are new, with some already taking effect on October 1, 2019, others to take effect December 1, 2019, and others taking effect February 19, 2020. Several forms have already been updated on April...

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Five More Things Debtors Should Know About the SBRA of 2019

December 22, 2019

By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Part VII Introduction This series focuses on four bankruptcy-related bills that were enacted during the 116th Congress and signed into law on August 23, 2019. One bill, the Small Business Reorganization Act of 2019 (SBRA), will be effective February 19, 2020. It appears in its entirety in Appendix B to...

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Word to the Wise: Failure to Properly Notice a Creditor Is Bad!

M. Jonathan Hayes

April 7, 2024

When the debtor fails to properly schedule a creditor in an asset case, is the now non-dischargeable debt under § 523(a)(3) limited to the amount the creditor would have received had it filed a proof of claim?

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Critical Case Comment – You Gotta Tell SOMEBODY!

Henry E. Hildebrand, III

December 18, 2022

Where a debtor fails to disclose to the Court or the trustee a forbearance on his mortgage that he was to pay directly, the Court would grant the trustee’s motion to modify to recapture as much as possible of the surplus funds the forbearance generated. (Kenney) In re Ilyev, 2022 WL 2965029 (Bankr. E.D. Va. July 26, 2022) Case Summary...

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Max’s Knowledge Nugget

Max Gardner

November 13, 2022

Question: May a servicer charge to generate a payoff quote? Answer: 1026.36(c)(3) Payoff statements. In connection with a consumer credit transaction secured by a consumer's dwelling, a creditor, assignee or servicer, as applicable, must provide an accurate statement of the total outstanding balance that would be required to pay the consumer's obligation in full as of a specified date. The...

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Department of Justice Guidance on Discharging Federal Student Loans in Bankruptcy Expanded to Include FFEL and Perkins Loans

Scott Waterman, Josh Cohen

October 29, 2023

“FFEL and Perkins loans are different than other federally backed student loans as these are owned by private lenders, but guaranteed by the government.”

Assessable Yet Not Assessed Taxes Could Cost You a Malpractice Claim

August 1, 2021

By Cathy Moran, Esq., (Redwood City, CA) Eighteen years elapsed between the close of the 2003 tax year and the Tax Court’s 2021 decision Barnes v. Comm'r, T.C. Memo. 2021-49 (U.S.T.C. May 4, 2021) regarding the debtors’ 2003 tax liability. While the most recent decision in the debtors’ battle with the IRS challenged the discretion of a tax officer in...

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Advising Consumer Clients About Credit Scoring – Some Questions

The Honorable William Houston Brown, Cathy Moran

September 10, 2023

“We have observed consumers who seem to be focused principally on their credit scores, . . . rather than focusing on . . . a more critical immediate focus on their balance sheets . . .”

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