By Henry E. Hildebrand, III, Chapter 13 Standing Trustee for the Middle District of Tennessee (Nashville) Rule 3002.1 gives the Bankruptcy Court authority to impose sanctions, including punitive sanctions, as part of the rules-granted authority to award “other appropriate relief.” (Rodriguez) Blanco v. Bayview Loan Servicing LLC (In re Blanco), 2021 WL 4190170 (Bankr. S.D. Tex. September 14, 2021) Case...
From the Editor – Chapter 13 Issues
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By The Honorable William Houston Brown (Retired)
Disposable Income: Step up payments required after completion of 401(k) loan. Sustaining the trustee’s objection to confirmation and citing the majority position, when the debtors would complete repayment of a 401(k) plan loan within twenty-four months, they were required to increase plan payments, since the funds previously used to repay the loan would become disposable income. Repayment of the loan is a known or virtually certain change in financial circumstances under Hamilton v. Lanning. The debtors’ argument that they needed the extra funds . . .
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