By Cathy Moran, Esq., Moran Law Group (Redwood City, CA) On its face, Diaz (Diaz v. Viegelahn, No. 19-50982 (5th Cir. Aug. 26, 2020)) is a pretty straightforward decision that struck down a local form plan as violating a below-median income debtor's right to use her tax refund to finance necessary expenses for maintenance and support. On a deeper level,...
Substitution of Collateral: It Don’t have to be so Difficult!
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By Tony Sottile, Esq., Sottile & Barile, LLC (Cincinnati, OH)
Like many matters we all handle in a bankruptcy context, some we enjoy and some we enjoy… well, a little less. Regardless of the position you have in this area of law – whether you are Debtors’ Counsel, Creditors’ Counsel, a Trustee or a Judge, you likely cringe a little when a Motion to Substitute Collateral comes up.
Here’s what happens to get to this point – the Debtor, post-petition, is in an automobile accident involving a vehicle which is security for a loan with a secured automobile lender . . .
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