In calculating projected disposable income, 13 debtor may deduct entire mortgage payment notwithstanding amount exceeds the housing allowance as established by the IRS Financial Standards Allowance.
“The ambiguity of § 302 raises the question:are jointly administered cases two separate estates? If jointly administered cases are two separate estates, are trustees doing it wrong?”
The Ninth Circuit BAP held that the chapter 13 debtors converted their case to Chapter 7 in good faith and therefore a post-petition inheritance was not property of the chapter 7 estate.
“We have observed consumers who seem to be focused principally on their credit scores, . . . rather than focusing on . . . a more critical immediate focus on their balance sheets . . .”
To pay present value to a secured creditor, a reorganization plan may start with a treasury rate and add a risk factor and need not start with a prime rate plus a risk factor.
A creditor having received relief from the automatic stay prior to confirmation of the debtor’s plan is nonetheless bound by the terms of the plan, once confirmed.
