Stripping Without A Discharge: As Sexy As Bankruptcy Gets

Stripping Without A Discharge: As Sexy As Bankruptcy Gets

By: John Gustafson, Standing Chapter 13 Trustee

Northern District of Ohio, Western Division

 

I. THE BASICS OF LIEN STRIPPING IN BANKRUPTCY.

There are four basic types of lien strips in bankruptcy: 1) Wholly unsecured mortgages secured only by residential real estate; 2) judgment liens; 3) non-purchase money, non-possessory liens on consumer goods; and 4) other consensual and statutory liens, such as mortgages on non-residential real estate, federal tax liens, etc.  Judgment liens and “household goods” liens are . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Related Articles

Angela scolforo
October 22, 2023
Angela M. Scolforo was appointed as the Chapter 13 Standing Trustee for the Western District of Virginia on April Fool’s Day. She replaced Herbert L. Beskin who served as the Trustee for 20 years, retiring in March of this year. Angela received a B.A. in English from College of the Holy Cross in Worchester, Massachusetts, in1987. She did not immediately go...
October 18, 2020
By Riley F. Tunnell, Esq., Godwin Bowman PC (Dallas, TX) The COVID-19 pandemic is not the product of a single cause. So, our remedial efforts must address a myriad of causes and rapidly developing effects. The CDC believes that delaying the onset of the mass-eviction to a time when we may be better able to manage this virus is a...
Members
February 14, 2021
By Jan Sensenich, Chapter 13 Standing Trustee for the District of Vermont I think it was in junior high school when I first started wearing glasses. I remember not liking the idea of having to wear glasses. I thought I could see just fine. As far as I knew, I was seeing what I needed to see. But I also...
Copy of Hildebrand-2016
In order to modify a plan confirmed under Chapter 12 pursuant to § 1229, the movant must demonstrate that there was a substantial change in circumstances that is sufficient to justify modification of a plan.  (Norton) Farm Credit Services of America PCA v. Swackhammer, 2023 WL 3591920 (8th Cir. BAP May 23, 2023) Case Summary The Swackhammers were farmers who...
moran_cathy
July 17, 2022
Mention keeping time records to a bankruptcy lawyer and you’re likely met with expressions of utter revulsion. All too many assert that the major appeal of being a bankruptcy lawyer is precisely that they don’t have to keep time. Between flat fee deals with clients, and no look fees in Chapter 13, they feel liberated from the clock and the...
Members
Copy of Hildebrand-2016
December 10, 2023
An over-median Chapter 13 debtor, in calculating projected disposable income, may deduct the higher of the projected plan payment for secured debts or the IRS allowance, but the debtor may not deduct the higher payment under the original contract.
Members
Copy of Hildebrand-2016
September 24, 2023
In calculating projected disposable income, 13 debtor may deduct entire mortgage payment notwithstanding amount exceeds the housing allowance as established by the IRS Financial Standards Allowance.
Members
Copy of Hildebrand-2016
Chapter 13 debtor’s failure to provide evidence of a change in financial circumstances justifies the denial of a motion to modify seeking to reduce the dividend and related payments into the plan.  (Cleary) In re DeRoo, 650 B.R. 561 (Bankr. N.D. Ill. May 2, 2023) Case Summary Nicole DeRoo filed a Chapter 13 petition in February of 2022.  Above-median income...
Members
ahern_larry_regular
February 26, 2023
This Part 6 continues1 an analysis of judicial developments with a significant decision on finality of a Chapter 13 confirmation order. In re Bozeman Section 1327 of the Bankruptcy Code provides that a confirmed Chapter 13 plan binds the debtor and creditors to its terms.2 In In re Bozeman,3 the Court of Appeals for the Eleventh Circuit looked at a...
Members

Looking to Become a Member?

ConsiderChapter13.org offers a forum to advance continuing education of consumer bankruptcy via access to insightful articles, informative webinars, and the latest industry news. Join now to benefit from expert resources and stay informed.

Webinars

These informative sessions are led by industry experts and cover a range of consumer bankruptcy topics.

Member Articles

Written by industry experts, these articles provide in-depth analysis and practical guidance on consumer bankruptcy topics.

Industry News

The Academy is the go-to source for the latest news and analysis in the Chapter 13 bankruptcy industry.

To get started, please let us know which of these best fits your current position: