Projected Disposable Income – Part 2 • NACTT Academy

Projected Disposable Income – Part 2

After serving as the Associate General Counsel at LTV Steel in Cleveland Ohio, Judge Kay Woods was sworn in as United States Bankruptcy Judge on July 7, 2004 and sits in Youngstown in the Northern District of Ohio.

One of the BAPCPA issues that continues to divide authorities is whether 11 U.S.C. §.707 permits debtors to take the IRS Local Standard deduction when they may have a payment (i.e., a car or mortgage payment) lower than the Local Standard or no payment at all. Resolution of this expense question involves interpretation of the word “applicable” as . . .

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For a system that is supposed to rehabilitate personal finances and set debtors back on their feet, Chapter 13 nationwide is schizophrenic about on- going retirement savings, divided about whether post petition contributions to retirement accounts preclude confirmation of a Chapter 13 plan. Too many courts, in my opinion, come down barring voluntary provisions for old age for the 5...

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