Unredeemed Pawned Property and Chapter 13 Plan Confirmation: Must a Pawnbroker Object?

From their spring edition of The Quarterly our friends at NACTT have shared a timely piece from creditor attorney Thomas Humphries.

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Thomas Humphries is an attorney with the firm of Sirote & Permutt, PC in Birmingham Alabama. Thomas represents the mortgage banking industry and various creditors in bankruptcy proceedings throughout the State of Alabama. Thomas’s practice includes the defense of mortgagees and mortgage servicers from claims, including wrongful . . .

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Critical Case Comment

January 26, 2020

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee for the Middle District of Tennessee (Nashville) When a case converts from Chapter 13 to Chapter 7 prior to the confirmation of a plan, the Chapter 13 Trustee is not permitted to divert funds from the debtor to the debtor’s attorney. In re Lettie, 597 B.R. 637 (Bankr. E.D Wis. 2019)...

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By Henry E. Hildebrand, III and Sloan Hastings Section 521(a)(7) requires a chapter 7 debtor to file a statement of intention for “debts secured by the property of the estate.” The debtor must choose to (1) reaffirm the debt, (2) surrender the collateral, or (3) redeem the collateral. Reaffirming the debt contractually binds the debtor to pay the debt even...

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Absolute Right to Dismiss? Sixth Circuit Says “Yes”

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By Academy Staff Section 1307(b) provides: On request of the debtor at any time, if the case has not been converted under Section 706, Section 1112, or Section 1208, the court shall dismiss a case under this chapter. This seemingly straightforward provision has generated significant litigation and produced multiple conflicting decisions. Does a Debtor have a right to dismiss a...

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Negotiating Plan Confirmation with Secured Creditors – Issues Involving Balloon Payments and Other Mortgage Loans Subject to Modification Under § 1322(c) – Part 2 of 3

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Critical Case Comment

Henry E. Hildebrand, III

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In re Galloway, 2022 WL 1017951 (Bankr. N.D. Ill. April 5, 2022) A Chapter 13 trustee’s final audit and notice of completion of payments is not necessary or a precondition to the court granting a discharge to a debtor who has satisfied the requirements of § 1328. (Judge Thorne) Case Summary Tara Galloway filed a Chapter 13 petition in May...

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Section 1329(c), as it currently exists, forecloses the ability of Chapter 13 debtor to modify a confirmed plan to alter the plan payment amount while maintaining an extended plan, previously approved under the CARES Act. (Hanan) In re Nelson, 2022 WL 6795096 (Bankr. E.D. Wis. October 11, 2022) Case Summary Immediately after the onset of the COVID-19 pandemic, Congress sought...

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IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts. On July 26th, the IRS announced that it has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report...

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Critical Case Comment – Service Counts

Henry E. Hildebrand, III

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