Tax Form 1099 Needs A Closer Look: Chances Are It’s Wrong

By William J. Purdy, III, Simmons & Purdy (Soquel, CA)

Hundreds of thousands of taxpayers in the past few weeks have looked at or at least thought about, Form 1099-A or Form 1099-C documents they have received.

Some arrived in the tax year a debt was allegedly cancelled.
Others are issued by financial instructions many years after they should have been issued.
Some should never have been issued at all.

Some taxpayers “feel” or . . .

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How To Manage Incompetent, Unprepared, and Negligent Bankruptcy Counsel

The NACTT Emeritus Trustees

February 12, 2023

Previously the Emeritus Trustees (“ETC”) were asked to comment on “How to Manage Unprofessional and Discourteous Attorneys”. We now turn to ETC to share their collective wisdom when addressing the issues raised by incompetent, unprepared, and negligent bankruptcy counsel. Chapter 13 Trustees are required to administer cases in accordance with the duties set forth in 11 U.S.C. Sec. 1302 and...

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What to Do with the Dreaded Timeshare?

August 25, 2019

By Karin N. Amyx, Staff Attorney to the Trustee Carl Davis (Wichita, KS) To me, the word “timeshare” conjures up images of a dark conference room at a resort hotel where unwitting tourists are being goaded into signing usury contracts in exchange for a free meal ticket at the buffet. But what is a timeshare? And how do you deal...

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IRS Updates Guidance for Deductible Business, Charitable, Medical and Moving Expenses

November 17, 2019

11/14/19, the IRS issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA). Revenue Procedure 2019-46, posted today on IRS.gov, updates the rules for using the optional standard mileage rates in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes. The guidance also...

Critical Case Comment – Siegel v. Fitzgerald

Henry E. Hildebrand, III

June 19, 2022

Congress’ enactment of differing fees for U.S. Trustee states and Bankruptcy Administrator states violated the uniformity provision of the Bankruptcy Clause of Article I of the Constitution. (Sotomayer) Siegel v. Fitzgerald, 2022 WL 1914098 (S.Ct. June 6, 2022) Case Summary In 2008, the retail chain, Circuit City Stores, filed a Chapter 11 petition. In 2010, Circuit City’sliquidating plan was confirmed...

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Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9

January 17, 2021

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART VII – CONSUMER CREDITORS' PENALTIES FOR VIOLATIONS OF FORECLOSURE AND OTHER ARTICLE 9 RULES Introduction In this space, we have looked at numerous topics involving the operation of Article 9 of the Uniform Commercial Code (UCC) in bankruptcy; in the current series, we are reviewing Article 9's important rules...

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Ms. Ps & Qs

Nancy B. Rapoport

May 15, 2022

Dear Readers: There are some basic truths. One is that when someone says, “hey, watch this!,” the result is likely to involve blood or stitches. Another is that, when an author describes something with the leadoff word, “interestingly,” it often isn’t. And a third is that one shouldn’t mislead bankruptcy judges. In two wonderfully written cases, bankruptcy judges made this...

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Recent Trends in the Interpretation of Midland v. Johnson and the Applicability of the FDCPA to Bankruptcy Cases

January 3, 2021

By Mark C. Leffler, Boleman Law Firm, PC (Richmond, Hampton, and Va. Beach, VA) Part I: Derby v. Portfolio Recovery Associates Recently, Hon. Keith L. Phillips of the Eastern District of Virginia Bankruptcy Court issued his fourth and final written opinion in the Derby v. Portfolio Recovery Associates adversary proceeding, Adv. Pro. No. 18-03097-KLP, 2020 Bankr. LEXIS 2589 (Bankr. E.D.Va....

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Critical Case Comment – 10th Circuit Says No Default Cures After Month 60

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...

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Critical Case Comment – Playing the System – Good or Bad Thing??

Henry E. Hildebrand, III

October 8, 2023

Chapter 13 debtor that repeatedly fails to maintain payments to the mortgage servicer directly as provided in the original plan and in all amendments is not acting in good faith and has misled the court as to feasibility of the plan justifying dismissal of the case.

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Rescuing a Troubled Chapter 13: The Unseen Threat

February 24, 2019

By Cathy Moran, Esq. (Redwood City, CA) We all get sucked in, at some time, to try and rescue a Chapter 13 bankruptcy case gone bad. Make sure that you don’t let a bad situation get worse. Get your arms around §109(g). When only a do-over will do, don’t wait around. No Payments for Months The debtor came to me...

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