Creditors' Rights and Debtors' Protections at the Intersection of Consumer Bankruptcy and UCC Article 9 • NACTT Academy

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

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 at a number of topics involving financing statements (UCC-1s), all of which touch on the interplay of Article 9 and bankruptcy.1 In . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Is 1328(i) Ultimately Terrible for Debtors?

February 7, 2021

By Ken Siomos, Staff Attorney for Marsha L. Combs-Skinner (Newman, IL) The December 2020 Consolidated Appropriations Act, 2021, more commonly known as the second covid-19 stimulus bill, contains a few bankruptcy related provisions, but none stood out more with respect to Chapter 13 than the newly created § 1328(i). This provision provides that a court may grant a full 1328(a)...

Members

Ordinary Heroes Deliver Second Chances with Bankruptcy

July 28, 2019

By Robert (Bob) Schuman, Owner/Managing Broker, Network Financial Group I’m a mortgage broker. In that role, I see close up the immense relief that a homeowner feels when they file Chapter 13. They are no longer forced to deal with collection calls and a multitude of letters that are aggressive and intimidating, threatening to take their car, foreclose on their...

FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

The Academy

February 18, 2024

FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

When Life Backs Chapter 13 Debtors Into A Corner, § 1329 May Provide A Way Out Of Trouble And A Shorter Path To Discharge

February 17, 2019

By Veronica D. Brown-Moseley, Boleman Law Firm, P.C. (Virginia Beach, VA) Many things can, and often do, change between the time debtors file a Chapter 13 bankruptcy petition and the end of their case. A variety of circumstances impact a debtor’s ability to afford their Chapter 13 plan payments, including but not limited to: medical problems, disability, loss of employment,...

Members

Chapter 13 Trustee Duties, Powers, And Limitations – Part 4

October 25, 2020

By James J. Robinson, Chief United States Bankruptcy Judge, Northern District of Alabama Exactly whose interests does the trustee represent, and when should the trustee object or move to modify? Hope v. Acorn Financial, Inc., 731 F.3d 1189 (11th Cir. 2013). The Eleventh Circuit held that a chapter 13 trustee who was aware of defects with a secured claim before...

Members

Critical Case Comment – A Mixed Bag of Inheritance

Henry E. Hildebrand, III

June 18, 2023

When a debtor fails to disclose a post-petition asset as required by Local Rule and the terms of her plan, the trustee may seek a modification of the plan notwithstanding the expiration of the applicable commitment period; the best interest of creditors test applies only at commencement of the case and not to a plan modification; a trustee’s motion to...

Members

Why Listening Is a Bankruptcy Lawyer’s Superpower

Cathy Moran

February 18, 2024

The initial meeting with a prospective bankruptcy client is the most important work I do as a bankruptcy lawyer. It’s also the hardest.

Members

Chapter 13 Trustee Duties, Powers, And Limitations – Part 3

October 18, 2020

By James J. Robinson, Chief United States Bankruptcy Judge, Northern District of Alabama Can the trustee challenge the debtor’s attorney’s fee? In re Rodriguez Perez, 2018 WL 3655656 (Bankr. D.P.R. 2018). In this case, the chapter 13 trustee asked the bankruptcy court to assess the contract between the debtor and counsel under § 526-528. The trustee alleged that the contract...

Members

Dollar Amount Increases in Bankruptcy Code

March 3, 2019

By William Houston Brown, United States Bankruptcy Judge, Retired; Editor/Adviser, The Academy On April 1, 2019, an increase takes effect in those dollar amounts in the Bankruptcy Code that are subject to adjustment every three years.1 The following increases have significance in everything from the eligibility maximums for filing under Chapters 12 and 13 to the debtor’s exemptions. Relevant Official...

ABI Commission on Consumer Bankruptcy – Student Loans – Suggested Statutory Changes

April 21, 2019

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) Section I. Student Loans, Part I Statutory Suggestions When the Commission asked participants to identify the most important issue in consumer bankruptcy, all three committees were told the same thing: the role of bankruptcy in the field of student loans. All three committees looked at the issue and proposed...

Members