By Cathy Moran, Esq., (Redwood City, CA) When a married couple books a bankruptcy consultation, you have an immediate problem: There be dragons, as early map makers helpfully provided. Because, as a lawyer friend of mine says: Anytime there are two people sitting across from you, you have a conflict of interest. That pithy expression has stuck with me and...
Critical Case Comment:In re Seafort
Print This Article
Link to Post:
By Kevin R. Anderson, Chapter 13 Trustee District of Utah
In re Seafort, 2012 WL 469723 (6th Cir, Feb. 15, 2012) (Suhrheinrich)
Once a Chapter 13 debtor repays a 401(k) loan, such payments must be contributed to the plan for distribution to unsecured creditors and may not be used to make voluntary retirement contributions.
Case Summary
On the petition date, the Chapter 13 debtors were making 401(k) loan repayments but not 401(k) contributions. When the 401(k) loans were repaid, the debtors proposed to continue making such payments as contributions to their 401 . . .
It looks like you are not signed in or registered! This content is only available to members.
Or Sign In Below:
Related Articles
Critical Case Comment – $67k Windfall to Debtors. Fraudulent??
Critical Case Comment – Pre-Confirmation Payments
From the Editor – Claims
Are Your Loyalties Divided?
Claims Secured by Personal Property
When (or Not) Is the Best Interests of Creditors Test Applicable in a Modified Plan?
What the FICO? Reaffirming Doesn’t Help My Credit Score?
Is Voluntary Dismissal of a Chapter 13 Case an Absolute Right?
Supreme Court Agrees to Revisit Finality of Orders in Bankruptcy
Critical Case Comment – “Extraordinary” Key to Set Aside Dismissal