By Michael McCormick, Senior Partner, McCalla Raymer Leibert Pierce, LLC (Roswell, GA) H.R. 748, also known as the CARES Act (herein, “the Act”), was enacted into law on March 27, 2020. The Act is meant to address the economic fallout of the Coronavirus pandemic. The Act contains numerous consumer protections, including several pertaining to residential mortgages. Relief from Foreclosure Section...
Critical Case Comment
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By Henry E. Hildebrand, III, Chapter 13 Trustee, Nashville, TN
Santander Consumer USA, Inc. v. Brown, 2014 WL 1245266 (11th Cir. March 27, 2014) (Bucklew)
“Replacement value” standard of § 506(a)(2) applies when a Chapter 13 debtor surrenders a vehicle under § 1325(a)(5)(C).
Case Summary
In July of 2007, Phillip Brown purchased a 37-foot 2006 Keystone Challenger recreational vehicle. In July of 2012, when Brown filed a Chapter 13 petition, the debt was held by Santander. Santander filed a secured claim, asserting that the amount outstanding on the debt was . . .
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