When (or Not) Is the Best Interests of Creditors Test Applicable in a Modified Plan?

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

While the best interests of creditors test is applicable upon modification of a Chapter 13 plan, post-petition acquired property of the estate is not included in such analysis in that such property would not be property of a Chapter 7 estate. (Somers) In re Taylor, 2021 WL 3118824 (Bankr. D. Kan. July 21, 2021)

Case Summary

Leora May Taylor filed a Chapter 13 bankruptcy in August of 2016. The plan provided for monthly payments of $175 that did not provide for any distribution to . . .

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The Kill Switch and The Stay

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Kara K. Gendron, Esquire, Mott & Gendron Law (Harrisburg, PA) A “kill switch” is a device which can be used to disable a machine or program. They have been used for years in a myriad of safety measures, such as shutting down machinery in the event of an emergency, or to prevent the theft of a machine or data. Some...

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Do I Really Have to Tell the Trustee About Newly Acquired Assets?

Herbert L. Beskin

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It has long been a vexing question for Trustees and attorneys alike: do Debtors have to disclose assets acquired post-petition? In a lengthy and well-documented opinion, Chief Bankruptcy Court Judge John Waites of South Carolina has presented his take on this issue and concluded, with some important exceptions, that they do not. The case is In re Thomas L. Boyd,...

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Here’s What Taxpayers Should Consider When Determining If They Need to File

February 3, 2019

As people prepare to file their taxes, there are things to consider. They will want to determine if they need to file and the best way to do so. For tax year 2018, all individual taxpayers will file using the new Form 1040. Forms 1040A and 1040EZ are no longer available. Taxpayers who previously filed these forms will now file...

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Chapter 13 Trustee Duties, Powers, and Limitations

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Jan M. Sensenich

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Jan M. Sensenich graduated from Windham College in Putney, Vermont in 1978 and Vermont Law School in 1983. He served as Core Faculty Member and Director of the Woodbury College Legal Clinic from 1983 to 1987and from 1990 to 1992. Jan was an Associate with Jerome I. Meyers, P.C. from 1987 to 1990 when he opened his own practice concentrating...

Diane Cipollone

The Academy

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Diane Cipollone is an attorney and a qualified expert on mortgage servicing and loan origination matters. While Diane no longer provides expert testimony, she continues to consult with consumer attorneys; trains attorneys, court mediators, housing counselors and fair housing advocates on foreclosure prevention guidelines and federal mortgage regulations; and mentors pro bono attorneys and non-profit housing counselors. She has presented...

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

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Deconstructing the Fair Debt Collection Practices Act: Obduskey Says Lawyers Conducting Nonjudicial Foreclosure Are Not “Debt Collectors”

April 7, 2019

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