From the Editor - Property of Estate and Exemptions • NACTT Academy

From the Editor – Property of Estate and Exemptions

By The Honorable William Houston Brown (Retired)

Timing of lien avoidance in Chapter 13. Chapter 13 debtor’s avoidance of judgment lien that impaired homestead exemption would be effective immediately to allow recognition of homestead exemption for purposes of plan confirmation, but would not be effective for other purposes until completion of plan and entry of discharge. This would permit the debtors to treat the creditor holding that avoided lien as unsecured in their plan, but the lien would not be completely avoided until the plan was completed and discharge entered. In the event of dismissal . . .

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IRS Extends April 15, Other Upcoming Deadlines for Alabama Storm Victims, Provides Other Tax Relief

March 10, 2019

Victims of March 3rd tornadoes and severe storms in Alabama have until July 31, 2019, to file certain individual and business tax returns and make certain tax payments. The IRS is offering this relief to any Major Disaster Declaration area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Currently, this only includes Lee County, Alabama,...

In Re Carter: A Hard Case (Maybe) Making Bad Law?

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Possible Solution for Student Loans?

August 16, 2020

By Laila S. Gonzalez, Esq. One thing everyone can agree on is that student loan debt is increasing on an annual basis. Studies have shown than people with high student loan debt wait years longer to buy a home and start a family. Several suggestions have been made as to how to resolve the problem. One suggestion is to eliminate...

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Critical Case Comment – In the Windfalls Category

Henry E. Hildebrand, III

August 28, 2022

Unanticipated post-petition acquisitions, constituting property of the estate, can be captured for the purpose of repaying creditors. In re Powell, 2022 WL 1043502 (Bankr. C.D. Ill. April 7, 2022)(Perkins) Case Summary Clarence and Betty Powell filed a Chapter 13 petition in February of 2020 and their plan was confirmed that October. The plan required the Powells to make monthly payments...

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Critical Case Comment – How Many Cats?

Henry E. Hildebrand, III

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Seventh Circuit Agrees with Ninth and Tenth

The Academy

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Court Supervised Student Loan Modification

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Congress, It’s Time to Get Rid of That Stupid Means Test

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Undersecured Short-Term Mortgages May be Crammed Down

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By Angela M. Scolforo, Staff Attorney to Herbert L. Beskin, Chapter 13 Trustee (Charlottesville, VA) In Hurlburt v. Black,1 the en banc Fourth Circuit Court of Appeals overturned its prior decision in Witt,2 and held that Bankruptcy Code § 1322(c)(2) authorizes modification of some home mortgage loans through bifurcation and cram down. This enables debtors to cram down home mortgage...

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An Argument in Favor of the Mid-Case Audit: B.R. 3002.1 Proposed Changes

Molly Simons

August 28, 2022

If you put your ear to the ground you may hear the rumblings regarding a change to Bankruptcy Rule 3002.1 requiring the institution of a mid-case bankruptcy audit. This mid-case audit would be like the Notice of Final Cure but would be performed by a trustee’s office in the middle of a pending Chapter 13, rather than at the end,...

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