Who Gets Paid When? A Short Primer on the Order of Distribution in the Era of National and Local Plans

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN)

Introduction

In a series of articles last year, Lexington Trustee Beverly Burden and I attempted to explain many of the changes in rules and forms last December and in our final article we highlighted some unanswered questions. In a panel discussion with Kansas City Bankruptcy Judge Dennis Dow, at the Annual Meeting of the NACTT, Beverly and I discussed a number of those unanswered questions. This comment discusses one of those issues, which has been the subject of recent case law: How is the . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

From the Editor

March 24, 2019

By Wm. Houston Brown, United States Bankruptcy Judge (Retired) Discharge - Paying more than original loan balance would be undue hardship. The 59-year old debtor employed in aging and disability services couldn’t maintain a minimal living standard without discharge of substantial portion of student loan debt. The Court identified factors included in “minimal standards” in modern American society and found...

Members

CFPB Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies

January 19, 2020

January 9, 2020, the Bureau filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and engaging in deceptive conduct. The Bureau’s action is against a mortgage lender called Chou Team Realty, LLC, which does business as Monster Loans (Monster Loans); an allegedly sham mortgage brokerage...

Duty to Disclose Substantial and Unanticipated Changes in Debtor’s Financial Condition

Angela M. Scolforo

December 11, 2022

In the case of In re Ilyev, 17-12987-KHK (Bankr. E.D. VA July 26, 2022), Judge Kenney granted the Chapter 13 Trustee’s motion to modify the plan to require the Debtor to repay some of the $29,250 of disposable income he retained by not making his mortgage payments during an 18-month Covid forbearance. The Debtor never disclosed to the Trustee, or...

Members

Escrow 101 and 102

Michael J. McCormick, Esq.

August 13, 2023

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!!

Members

May the Chapter 13 Trustee Keep Fees Paid Before Dismissal?

Lawrence R. Ahern, III

April 10, 2022

Larry Ahern this week begins a two-part examination of whether a Chapter 13 trustee may retain fees paid without a confirmed plan before dismissal. Part 1 is a detailed analysis of McCallister v. Evans, a recent case accepting the trustee's position considering a division in the caselaw and analyzing in detail the relevant statutes. May the Chapter 13 Trustee Keep...

Members

Debt Buyers Pay a Lot Post-Taggart

Cathy Moran

February 4, 2024

You know it won’t go well for the creditor in a discharge violation when the opinion opens by characterizing the debtor as a single mother and registered nurse who discovers her $20k bank balance is now negative.

Members

Escrow 101 – Part 1 of 3

August 29, 2021

By Michael J. McCormick, Esq., McCalla Raymer Leibert Pierce, LLC (Roswell, GA) Escrow 101 – Part 2 Escrow 101 – Part 3 Escrow 102 – Part 1 Escrow 102 – Part 2

Members

From the Editor

September 27, 2020

By The Honorable William Houston Brown (Retired) Debtors’ attorney fees not authorized under Equal Access to Justice Act (EAJA). Although the Chapter 13 debtors had prevailed before the Ninth Circuit, In re Sisk, 962 F.3d 1133 (9th Cir. 2020), their application for attorney fees as prevailing parties under EAJA was denied. That Act did not authorize awards of attorney fees...

Members

In the Greatest Hits Department . . .

The Academy

May 26, 2024

The Case of the Naked Client: In December of 2023 Cathy Moran brought readers this great exhortation to debtor attorneys to be very careful when completing a petition. What ISN’T there may be as important as what is there!

Members

Chapter 13 No-Look Fees

The NACTT Emeritus Trustees

December 10, 2023

As a follow-up to The Academy’s December 3, 2023, issue, three Emeritus Trustees weighed in. Last week’s issue included Cathy Moran’s Chapter 13 NoLook Fees: The Horns of a Dilemma and Trustee Hildebrand’s You Gotta Fix Your Own Screw-ups, On Your Own Dime. You may also want to take note of the comments on each article and add your own.

Members