Reaffirmations Impose Impossible Demands on Bankruptcy Counsel

When BAPCA gutted the ipso facto clause, reaffirmation was left as the only way a debtor could be assured of retaining his wheels.

Car lenders took sides back then, then changed sides, on whether they would automatically repossess a vehicle when the debt was not reaffirmed. Some wanted the in terrorem effect of losing the car to spur reaffirmations and the full panoply of legal . . .

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By Cathy Moran, Esq., (Redwood City, CA) To actually effect abandonment of unadministered assets in a bankruptcy case, the asset in question must appear on Schedule A/B. That’s the hard teaching of Stevens v. Whitmore from the 9th Circuit BAP. A passing reference to an asset in the SOFA isn’t sufficient. Neither was the fact the trustee explicitly knew about...

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Henry E. Hildebrand, III

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Henry E. Hildebrand, III

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