From the Editor – Classification and Cure of Defaults • NACTT Academy

From the Editor – Classification and Cure of Defaults

By The Honorable William Houston Brown (Retired)

Mortgagee not entitled to default interest rate. If state law permits it and contract provides for default interest and if that rate has become payable prepetition, curing the default requires payment of the default rate, but here mortgage provision for default interest rate was not self-operative, giving mortgagee option to declare entire mortgage debt as matured and to demand default rate. In absence of evidence that mortgagee had informed debtor of its prepetition election to accelerate entire debt, the mortgagee was not entitled to 24% default interest. To . . .

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.

From the Editor – Avoidance

September 22, 2019

By The Honorable William Houston Brown (Retired) Tax foreclosure sale avoided as preference. Affirming the District and Bankruptcy Courts, at 571 B.R. 662 and 588 B.R. 394, the Third Circuit held that the Chapter 13 debtors could avoid a pre-petition tax foreclosure sale as a preferential transfer. The township held a properly noticed tax sale at public auction, which resulted...

Members

Critical Case Comment – Frontloading Attorney’s Fees

Henry E. Hildebrand, III

August 6, 2023

Nothing prohibits the confirmation of a Chapter 13 plan which frontloads the payment of attorney’s fees ahead of payments to secured and other creditors.

Members

Debt Buyers Pay a Lot Post-Taggart

Cathy Moran

February 4, 2024

You know it won’t go well for the creditor in a discharge violation when the opinion opens by characterizing the debtor as a single mother and registered nurse who discovers her $20k bank balance is now negative.

Members

2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases – Part 2 Rules Related to SBRA

Lawrence R. Ahern, III

November 13, 2022

Introduction This series reviews developments in bankruptcy procedure during 2022. Amendments to 16 rules and new one new rule take effect December 1, 2022, absent Congressional action. Many reflect changes necessitated by the Small Business Reorganization Act of 2019 (SBRA),1 and have been in place in the same or similar form on an interim basis since that legislation took effect.

Members

Meet the New Trustee

October 3, 2021

Jack N. Zaharopoulos was appointed as the Chapter 13 Standing Trustee for the Middle District of Pennsylvania on May 1, 2021. He succeeded Charles DeHart after his retirement. After graduating from Marquette Law School in Milwaukee in 2002, Zaharopoulos worked at a general practice firm, doing debtor and creditor bankruptcy work, family law, and even some criminal cases. After gaining...

Judicial Year in Review 2021: Revised Rules and Selected Cases – Part 1 Amended Rules

November 7, 2021

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Introduction This year's changes in the Rules of Bankruptcy Procedure are summarized below. They will be followed, in Part 2, by a digest of selected judicial decisions in the past year of interest for their procedural implications. December 1, 2021, Amendments to Bankruptcy Rules 2005, 3007, 7007.1 and 9036 On...

Members

From the Archives – An Oldie but Goodie

Nancy B. Rapoport

April 14, 2024

Ms. Ps & Qs on ‘Wet Signatures’ – Yep, they are important and nope, you can’t blame others for your mistakes.

Members

Taxpayers with Expiring ITINs Should Renew Them Now

August 18, 2019

Taxpayers with expiring individual taxpayer identification numbers should renew their number ASAP. There are nearly 2 million ITINs set to expire at the end of 2019. Taxpayers with an expiring number should renew before the end of this year. This will help avoid unnecessary delays related to their tax refunds next year. ITINs are used by taxpayers required to file...

The Continuing Saga of Chapter 13 Trustee Fees in Pre-Confirmation Dismissals

Thomas D. DeCarlo

June 25, 2023

Courts continue to wrestle with the issue of trustee fees in pre-confirmation dismissals. The Bankruptcy Court for the Northern District of Illinois has now weighed in in In re Johnson, 2023 WL 3406597 (Bankr. N.D. Il. 2023). The facts are pretty typical. Debtor filed for Chapter 13. After 8 months and 8 confirmation hearings, the Court granted Trustee’s request for...

Members

Recent Trends in the Interpretation of Midland v. Johnson and the Applicability of the FDCPA to Bankruptcy Cases – Part II: Thomas v. Midland Funding, LLC

February 7, 2021

By Mark C. Leffler, Boleman Law Firm, PC, Richmond, Hampton, and Va. Beach, Virginia In order to “eliminate abusive debt collection practices by debt collectors . . .”, the Fair Debt Collection Practices Act (“FDCPA”) bars debt collectors from using any “false, deceptive, or misleading representation or means in connection with the collection of any debt . . .” 15...

Members