Chapter 13 Practice in the Time of COVID-19

By Alex Schmidt, Law Clerk to the Honorable John P. Gustafson., Northern District of Ohio at Toledo

As the United States begins the process of coming to grips with COVID-19, those who work in the consumer bankruptcy world are going to have to roll with the punches thrown by a global pandemic that is already creating financial chaos throughout the country. Though specifics regarding the disease’s impact evolve by the day, one thing that is clear is that bankruptcies will be filed, potentially in large numbers. Accordingly, debtor’s attorneys, creditor’s attorneys, and trustees should . . .

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The Long Reach of R. 3002.1

Cathy Moran

August 20, 2023

What are the consequences of a secured lender’s failure to comply with R. 3002.1 in a prior case when the debtor files again? Significant, it seems. . . . since their attorney said he “didn’t see the need” to do so. [Can you guess, now, how this comes out?]

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The Continuing Saga of Chapter 13 Trustee Fees in Pre-Confirmation Dismissals

Thomas D. DeCarlo

June 25, 2023

Courts continue to wrestle with the issue of trustee fees in pre-confirmation dismissals. The Bankruptcy Court for the Northern District of Illinois has now weighed in in In re Johnson, 2023 WL 3406597 (Bankr. N.D. Il. 2023). The facts are pretty typical. Debtor filed for Chapter 13. After 8 months and 8 confirmation hearings, the Court granted Trustee’s request for...

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

July 7, 2019

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...

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Tips and Traps: Issuing A Subpoena for Bank Records

March 10, 2019

By Beverly M. Burden, Chapter 13 Trustee (Lexington, KY) I recently had to issue subpoenas to banks to get the records of a non-debtor (long story involving an attorney’s mishandling of escrowed funds held on behalf of a chapter 13 debtor). Here are some tips for others like me who do not often need to use subpoenas. These tips apply...

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2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases – Part 1 Amended Statute and Rules Amendments Not Related to SBRA

Lawrence R. Ahern, III

November 6, 2022

Introduction This year sees changes in the Code and numerous new and amended Rules of BankruptcyProcedure that are to be effective December 1. The statutory amendments and the changes in therules that do not relate to cases under subchapter V of Chapter 11 are summarized below. They will be followed, by a digest of other new and amended rule and...

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Members of the Armed Forces Are Entitled to Certain Tax Benefits

June 23, 2019

Members of the military and their families often qualify for special tax benefits. For example, members of the armed forces don’t have to pay taxes on some types of income. In addition, special rules could lower the tax they owe or allow them more time to file and pay their federal taxes. Here are some of these special tax benefits:...

Put Me In Coach, I’m Ready To Play

Merideth Akers

August 14, 2022

You may recognize the title of this article as being the chorus line from the John Fogerty song entitled, “Centerfield.” The song is about a baseball player ready to enter the game. We are at the mid-point of the Major League Baseball season. Coaches will be instructing and motivating their teams in hopes of winning games and eventually winning the...

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Escrow 102 – Part 4 of 4

October 17, 2021

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

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Senior Headaches Caused by Junior Liens: Lien Stripping Under § 522(f)

Arya Omshehe, The Honorable John P. Gustafson

October 13, 2024

“In evaluating lien avoidance, we often default to the most common scenario: a first mortgage, perhaps a second mortgage, and the debtor’s homestead exemption. The question then becomes, is the total of these obligations more than the value of the property? If so, the judicial liens are avoided. If not, the judicial liens are either partially avoidable or fully secured.But that’s not quite how it works.” What a treat!!!! With no tricks. Judge Gustafson and Law Clerk Omshehe bring subscribers an in-depth look at the sexy topic of stripping.

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No Room for Error? Determining Whether Your “Secured” Creditor Has a Fatally Deficient UCC-1

March 22, 2020

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Click here for Part I Click here for Part II Part III - Description of Collateral Introduction The . . . It looks like you are not signed in or registered! This content is only available to members. Join Now Or Sign In Below: Username or Email Password Remember me...

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