The ACP: Applicable or Immutable? Part 4 of 4

“. . . the law is so clear that of course it's not allowed. However, some courts have twisted themselves into pretzels to create a creditor right to postpetition unmatured interest.” The article explores this not so simple issue by examining relevant sections of the Bankruptcy Code and case law from various circuit courts.

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.

In the fall of 2021, Michael McCormick provided subscribers with an EXCELLENT, expository, seven-part outline on mortgage escrow.   This information is just as relevant today as when we first published it with one important update . . . When the next escrow analysis is performed and the servicer has received less than 12 payments of escrow (and often zero, as is often the case after the borrower received a forbearance during the COVID pandemic), the escrow balance will be far less than anticipated!!

Property inherited by a Chapter 13 debtor more than 180 days after the filing of the petition is property of the estate under § 1306 and may be considered in properly filed motion to modify as a method to fund increased plan payments.

The NACTT's Inclusion and Acceptance Committee promotes Chapter 13 Trustee internships through the Tom Vaughn Memorial Internship Program, providing significant benefits to interns.