A Few of Our Favorite (Chapter 13) Things

(To be sung to the tune of Julie Andrews’ version of “These Are a Few of My Favorite Things” from The Sound of Music)

Raindrops on roses, and whiskers on kittens,
Bright copper kettles and warm woolen mittens–
Hey, wait a minute, that’s not what I mean;
It’s time that we focus on Chapter Thirteen.

We’ve been Trustees for so long that it’s hard to
Not take for granted the ways it can help you.
Let’s take a moment to praise what it brings,
Recounting our Chapter 13’s favorite things:

Stopping foreclosures, and saving the home’s fate;
A plan to pay mortgage arrears that are quite late.
Buying some time for the taxes to pay,
No interest or penalties blocking the way.

Stopping the phone calls that cause you to lose sleep,
Only one payment a month must you now keep.
Cramming down cars to a value that’s fair,
Interest at Till rate is easier to bear.

Thank the Code for,
That big mo-ment,
On the fil-ing day;
Those two words so clear,
And so lovely to hear:
Your own Auto-ma….tic Stay!

Paying the unsecureds fair distribution;
Based on an income and asset solution.
Offering a venue to litigate fairly
Those disputed debts you can pay only barely.

Catching up child support: get back your license;
Adding in new debts: it sometimes make high sense.
Buying some time for the loan mod to seal;
Now you can stay in your house: what a deal!

Protecting co-signers, your friends and relations,
From their getting sued as reward for their patience.
Modify plans when you’re going through changes,
When job loss or sickness your life rearranges.

It’s not perfect,
Sure, we know that;
But it has… its perks;
If you do enough,
It will help save your stuff;
Try Chapter 13…. it…works!

No Author Biography has been linked to this Article.

Related Articles

March 8, 2020
By The Honorable William Houston Brown (Retired) Equal monthly payments and attorney fees. The secured creditor objected to confirmation on basis that the plan improperly deferred its payments until debtor’s attorney fees were paid, and the District Court affirmed confirmation that delayed start of secured equal monthly payments for 21 months. The opinion examines three approaches to the issue: 1)...
Members
October 24, 2021
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) Chapter 13 debtor cannot submit missed payments to the trustee after the 60-month term of the plan has ended in an effort to cure defaults in the plan. (Bacharach) Kinney v. HSBC Bank USA, N.A., 5 F.4th 1136 (10th Cir. July 23, 2021) Case Summary Margaret Kinney filed a...
Members
April 21, 2019
Taxpayers may need to take money out of their individual retirement account or retirement plan early. However, this can trigger an additional tax on top of other income tax they may owe. Here are a few key things for taxpayers to know: Early Withdrawals. An early withdrawal normally is taking cash out of a retirement plan before the taxpayer is...
August 30, 2020
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART II – BASICS OF PERFECTION OF SECURITY INTERESTS Introduction Current circumstances, with a pandemic and a recession, portend a wave of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in UCC Article 9. In this space, we have previously looked...
Members
June 16, 2019
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee for the Middle District of Tennessee Mortgage creditor may not withdraw a notice of fees, costs, and charges filed in a case after the supplement to the claim has been challenged without court approval; the allowance of such a notice will not be permitted where a state statute forbids it. Quicken...
Members
August 15, 2021
By Nancy B. Rapoport, Garman Turner Gordon Professor of Law, Boyd School of Law, and Affiliate Professor of Business Law & Ethics, Lee Business School, William S. Boyd School of Law, University of Nevada, Las Vegas Dear Readers: My guardian angel, Regina Logsdon has asked a great question:what should you do when your “Spidey sense” tells you that your client...
Members
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
January 17, 2021
By Kevin M. Ball, Eastern Michigan University Senator Warren and Representative Nadler introduced identical legislation entitled the Consumer Bankruptcy Report Act (“CBRA”) late in the 116th Congress. Although the bills died without action at the conclusion of that term, the sponsors have indicated their intent to reintroduce them in the 117th Congress. The legislation would bring major changes to the...
Members
NalikoMarkel-150x150
October 23, 2022
The cloud seems to be all anyone wants to talk about these days in the tech field. I presented on it at the annual meeting in San Francisco this past summer and I presented on it at the first annual Region 9 I.T. Conference last month. I’m not tired of talking about it because the cloud is the future for...
Members
ACH-headshot
February 19, 2023
Creditors may now be subject to more preference actions, especially for those cases filed in Indiana. The Seventh Circuit recently overturned long-standing precedent that the preference period on garnishment of attachment would no longer run from the date of service or knowledge of the attachment but when the funds were paid over. The Seventh Circuit Court of Appeals in Mark...
Members