Exemptions and Other Pitfalls – Part 6 of 6

By Pam Bassel, Standing Chapter 13 Trustee and Heena Hirani, Staff Attorney, North Richland Hills, TX

(Produced and first published for the State Bar of Texas 31st Annual Advanced Consumer Bankruptcy Course February 4-5, 2016)

From the Perspective of a Chapter 7 and a Chapter 13 Trustee1

PAYMENTS UNDER THE CHAPTER 13 PLAN

In the typical Chapter 13 bankruptcy proceeding, the Debtor proposes a Plan to reorganize the secured or priority debt on which he/she is delinquent while making the on-going payments . . .

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Comparison of Annual Change in Chapter 13 Case Filings During the Beginnings of the 2008 and the 2020 Recessions

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By The Honorable Kevin R. Anderson, United States Bankruptcy Court for the District of Utah Coming off the longest economic expansion in U.S. history, Chapter 13 filings were at their lowest levels since 2007. With the country entering a sudden and unanticipated recession in February of 2020, we expected to see Chapter 13 filing rates increase; however, the opposite occurred....

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Yet Another Reason Why the Means Test is “Broken”

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Max’s Knowledge Nugget

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Question: May a servicer charge to generate a payoff quote? Answer: 1026.36(c)(3) Payoff statements. In connection with a consumer credit transaction secured by a consumer's dwelling, a creditor, assignee or servicer, as applicable, must provide an accurate statement of the total outstanding balance that would be required to pay the consumer's obligation in full as of a specified date. The...

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Who Is the Person Sitting at That Workstation? Contractor? Employee? Exempt?

Merideth Akers

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Who is the person sitting at that workstation? Is it Noah Non-exempt? Is it Emma Exempt? Or, is it Connie Contractor? It is vital that I know who the person is sitting at that workstation. Do I have to pay the person sitting at that workstation overtime pay? Can I reduce the person’s pay for leaving an hour early? Do...

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By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Introduction This series has focused on the four bankruptcy-related bills that were enacted during the 116th Congress and signed into law on August 23, 2019. One bill, the Small Business Reorganization Act of 2019 (SBRA), will be effective February 19, 2020. It appears in its entirety in Appendix B to...

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A Few of Our Favorite (Chapter 13) Things

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(To be sung to the tune of Julie Andrews’ version of “These Are a Few of My Favorite Things” from The Sound of Music) Raindrops on roses, and whiskers on kittens, Bright copper kettles and warm woolen mittens– Hey, wait a minute, that’s not what I mean; It’s time that we focus on Chapter Thirteen. We’ve been Trustees for so...

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Lawrence R. Ahern, III

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"Finality" in Bankruptcy When is an order within a bankruptcy case "final"? When must a party to the proceeding appeal within 14 days? When may a party either seek interlocutory review or sit back and wait until something more occurs to make the order final? Final orders are appealable. In civil actions, this is a relatively easy proposition to apply...

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Pump the Brakes: Bad Faith Debtors Are Not Gaming the System

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By Kathryne M. Shaw,1 Boleman Law Firm, P.C. (Virginia Beach, VA) Click here for Part 2 The bankruptcy system requires good faith on the part of a debtor in exchange for the promise of a fresh start, and responsible members of the bankruptcy bar constantly work to ensure that no one “games” this powerful system. So, how does a debtor...

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Critical Case Comment – No Such Thing as “Technical” Violation of the Stay

Henry E. Hildebrand, III

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Bankruptcy Court found violation of automatic stay to be “technical”, thus no damages. Ninth Circuit BAP did not agree. Continuing to pursue state court fraudulent transfer action after transfer or filed for Chapter 7 relief violated the automatic stay; even if the violation of the stay is “technical”, damages, including attorneys’ fees and costs, should be assessed against the violator....

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CFPB Releases Report on Debt Settlements and Credit Counseling

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July 10, 2020, the CFPB released a report examining recent trends in debt settlement and credit counseling. Many Americans struggle with their debts, especially during times of crisis. Today’s report documents changes over time in how consumers have used these debt relief options for unsecured debt. Using the Bureau’s Consumer Credit Panel (CCP), a nationally representative sample of approximately five...