Bankruptcy Weapons to Terminate a Zombie Mortgage

Bankruptcy Weapons to Terminate a Zombie Mortgage – Part 5 of 6

By Professor Andrea Boyack and Judge Robert Berger

click here for part 1, click here for part 2, click here for part 3, click here for part 4, click here for part 6

V. A BANKRUPTCY CODE SECTION 363 APPROACH TO ZOMBIE MORTGAGES

Section 363 of the Code promises a more workable alternative to . . .

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Applying the Principles of “Lady Justice”

Beverly M. Burden

June 16, 2024

“I recently had the opportunity to consider the symbolism of the well-known “Lady Justice” emblem or statue and pondered how the principles attributed to that icon apply to our present bankruptcy system.”

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ABI Commission on Consumer Bankruptcy – What Does It Mean to Surrender?

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By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) One of the most confusing elements in consumer bankruptcy practice is the effect of electing the option given in § 1325(a)(5)(C) or § 521(a)(2). Section 521(a)(2) requires every debtor to file a statement of intent that indicates whether the debtor intends to “surrender or retain” estate property which secured...

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How Guarantors Can Escape Tax on Soured Debt

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By Cathy Moran, Esq. (Redwood City, CA) and William J. Purdy, III, Simmons & Purdy (Soquel, CA) Ever guarantee the debt of another? Ever meet anyone who has? Chances are if you’re in business and the business is a C-corporation, an S-corporation, an LLC, or a partnership, when that business borrows money, the lender will require one or more persons...

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From the Editor – Claims

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By The Honorable William Houston Brown (Retired) Unpaid filing fee in prior case was unsecured claim. The Chapter 13 trustee moved for authority to pay unpaid filing fee from prior case, but Court denied that to the extent the motion sought payment ahead of unsecured creditors. The unpaid filing fee was nothing more than a general unsecured claim in the...

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The Uneasy Co-Existence of Federal and State Consumer Remedies in Bankruptcy Cases – the Fourth Circuit Weighs In

Mark C. Leffler

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“Why do I need the FDCPA if there’s already a remedy under Rule 3001?” This is what the bankruptcy judge asked me when I brought an adversary proceeding against a claims buyer, alleging potential class claims under both the Fair Debt Collection Practices Act (“FDCPA”) and Bankruptcy Rule 3001(c)(2). The defendant had a business practice of filing high volumes of...

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Locked Out: Blocked Mortgage Portals May Be Violation of the Stay

Kara K. Gendron

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A new case has shed light on a common practice by mortgage companies -- denying Chapter 13 debtors access to online payment portals. This case brought to the forefront a significant issue for Chapter 13 debtors across the country—the need for accessible payment methods that allow them to stay current with their mortgage payments and successfully complete their repayment plans.

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Money For Nothing

Pam Bassel

April 28, 2024

It is appropriate that the title of this article is based on the lyrics from Dire Straits’ biggest hit, since that is where many below-median debtors find themselves – in dire straits.

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2 Million ITINs Set to Expire in 2019; To Avoid Refund Delays Apply Soon

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Taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) can get their ITINs renewed more quickly and avoid refund delays next year by submitting their renewal application soon, the Internal Revenue Service said 10/10/19. An ITIN is a tax ID number used by taxpayers who don’t qualify to get a Social Security number. Any ITIN with middle digits 83, 84 ....

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Surprise Sanctions: Case Highlights Critical Need for Due Process in Fee Reductions

Henry E. Hildebrand, III

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Due process requires that before a Court imposes a reduction of unopposed attorney’s fees, notice and an opportunity to be heard is required.

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Three Last Things Trustees Should Know About the Small Business Reorganization Act of 2019 – Part V

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By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Introduction This series focuses on four bankruptcy-related bills that were enacted during the 116th Congress and signed into law on August 23, 2019.1 One bill, the Small Business Reorganization Act of 2019 (SBRA),2 appears in its entirety in Appendix B to this series and was summarized in

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