ABI Commission on Consumer Bankruptcy - A Chapter 7 Trustee’s Sale of Encumbered Property • NACTT Academy

ABI Commission on Consumer Bankruptcy – A Chapter 7 Trustee’s Sale of Encumbered Property

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN)

The Commission heard from several individuals and attorneys that related tales of Chapter 7 trustees negotiating a “carve out” with a lienholder on the debtor’s real property when there was no equity available in the property. The way this works is that when property came into a Chapter 7 estate with an underwater first mortgage but also with a totally unsecured second mortgage, the trustee would approach the first mortgage holder and request the opportunity to sell the property if the first mortgage would agree to . . .

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.

The Student Loan Solution

Henry E. Hildebrand, III

October 16, 2022

Recently, news stories, political pundits, social media outlets and the talking heads have become keenly aware of the growing danger imposed by burgeoning student loan debt and the economic chaos it has caused and will continue to cause. Although the crisis appears to dominate our cell phones and news feeds, bankruptcy professionals involved in consumer bankruptcy matters are fully aware...

HELOC Lender’s Rule 3002.1 Charges Pass the Test

Henry E. Hildebrand, III

December 15, 2024

Home equity lender may assess a monthly fee against a debtor’s plan for its compliance with Rule 3002.1 notice of fees charged by HELOC lender’s attorney’s preparation of monthly notices of payment changes and fees authorized by Rule 3002.1. This article is a detailed description of a case Attorney Bonial discusses in Part 2 of Debtor Attorneys Were Gobsmacked!!

Members

Foreclosed and Final – Did the BAP Get It Right?

Henry E. Hildebrand, III

March 30, 2025

Waiting too long can be fatal; a Chapter 13 debtor who waits until just before the expiration of the redemption date on a judicial foreclosure loses the ability to redeem the property.

Members

Digital Door Slammed on Debtor Violates Stay

Henry E. Hildebrand, III

June 1, 2025

Mortgage service provider for a Chapter 13 debtor violates the automatic stay when it denies debtor the ability to make online payments through a portal which gave its customers, the option to make electronic payments.

Members

From the Editor – Dismissal

August 2, 2020

By The Honorable William Houston Brown (Retired) Undistributed funds returned to debtor upon dismissal. Under § 1327(b)’s vesting requirement, unless a confirmed plan provides otherwise, any undistributed funds held by the trustee at dismissal of the case must be returned to the debtor. Although not necessary to rely on § 347(b)(3), the conclusion on effect of vesting at confirmation was...

Members

Avoidance Powers in Chapter 13© – Part 6 of 6

February 3, 2019

By John P. Gustafson, United States Bankruptcy Judge, Northern District of Ohio, Western Division (Toledo, OH) Click here for Part 1 Click here for Part 2 Click here for Part 3

Members

Meet a New Trustee

The Academy

August 4, 2024

Brandi Richardson was appointed as the Chapter 13 Standing Trustee for the Winston Salem Division of the Middle District of North Carolina on October 1, 2023.

Tax Deductions Hidden in Chapter 13

Cathy Moran

April 3, 2022

True. Most people no longer itemize under the current Tax Code. However, the amount of money involved varies and should be considered. The same very important debts that a Chapter 13 plan pays are often tax deductible. And your client is still the person who’s paying, even if the trustee writes the check. Don’t allow them to miss out on...

Members

Court Supervised Student Loan Modification

July 7, 2019

By Robert B. Branson and Tammy Branson, Branson Law PLLC (Orlando, FL) On June 10, 2019, Chief Judge Michael Williamson entered Administrative Order 2019-1 Prescribing Procedures for Student Loan Modification Program “SLP” in the Middle District of Florida, which goes into effect August 1, 2019. The SLP Program was a district-wide effort created with input from all three divisions of...

Members

Take Back Your Time and Stop Letting Clients Run Your Life

Jen Lee

April 27, 2025

"Their chaos doesn’t have to be your chaos."

Members