Spending every dollar they make, and then some, is often how our Chapter 13 clients got into financial trouble. Yet Chapter 13, as practiced, validates the practice of continuing to spend 100% of each month’s income during the life of the plan. In doing so, we, as a society, squander the chance to use Chapter 13 to teach new budgeting...
From the Editor – Claims
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By The Honorable William Houston Brown (Retired)
Recordation of divorce judgment created secured claim. In Chapter 13 case, the debtor objected to former spouse’s secured claim, with pre-bankruptcy divorce judgment awarding former marital home to the husband but ordering equalization payments to the wife. No security was mentioned in the judgment, but its recordation created a lien under Wisconsin law. Although the lien was subject to prior liens, the former spouse had partially secured claim. In re Thompson, _________B.R._________, 2020 WL 632664 (Bankr. E.D. Wisc. Feb. 7, 2020).
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