According to a recent study conducted by iSeeCars, here is the list of the top 10 used car buys: Ford Expedition — 38.5 percent savings used vs new — $24,690 difference used vs new. While only a slight edge in the percentage department, Ford’s Expedition doubled-up on the No. 2 lightly-used budget buy. Kia Sedona…
Archives for 2019
Does a Secured Creditor’s failure to file an objection constitute an acceptance of a Chapter 13 plan?
Yes. In a recent South Carolina bankruptcy decision, the court held that a secured creditor’s failure to object to its treatment in a Chapter 13 plan constitutes acceptance of the plan under Code § 1325(a)(5)(A). In re Stephens, Case No. 3:18-bk-1736 (Bankr. D. S.C., Oct. 16, 2018)
Is a State Court Judgment entitled to issue-preclusive effect as to the debtor’s fraud?
In a recent 9th Cir. B.A.P decision, the court held that a California state court judgment was not entitled to issue-preclusive effect as to the debtor’s fraud under California law. The state court made numerous findings of fraudulent conduct by the debtor. Nonetheless, in a nondischargeability proceeding under Code § 523(a)(2)(A), the court denied to…
Does a Student Loan Creditor’s application of trustee’s payments to prepetition and postpetition interest instead of paying down the principal amounts violate the terms of a Chapter 13 plan?
In a recent Montana bankruptcy court ruling, does not prohibit creditors from applying Chapter 13 plan payments to outstanding postpetition interest prior to paying down the principal balance. Accordingly, where the debtors’ confirmed Chapter 13 plan did not modify the contractual rights of the debtors’ student loan creditor, the creditor did not violate the plan…
Is a Chapter 13 debtor obligated debtor to pay lender’s bankruptcy-related attorney’s fees?
In a recent Alamba bankruptcy court ruling, the court ruled that the debtor is not obligated debtor to pay the lender’s bankruptcy-related attorney’s fees. The court relied on the four corners of the Chapter 13 debtor’s mortgage finding that there existed no unambiguous language rendering the borrower liable for attorney’s fees incurred by the lender…
Factors relevant to court’s decision on permissive abstention: How does a bankruptcy court determine whether an adversary proceeding is a “Core Proceeding”?
Courts will consider several factors when determining whether to permissively abstain under 28 U.S.C. § 1334(c)(1) from hearing a proceeding, including: (1) the effect of abstention on the efficient administration of the bankruptcy estate; (2) the extent to which state law issues predominate over bankruptcy issues; (3) the difficulty or unsettled nature of the applicable…
Disposition of Chapter 13 Funds following Dismissal: Can a state levy Chapter 13 post-petition funds on hand after the case is dismissed to apply to debtor’s child support arrearage?
Not in Virginia. In a recent 4th Circuit decision, the court held that the Virginia Department of Social Services, Division of Child Support Enforcement, was not entitled to post-petition funds held by the Trustee following the dismissal of Mr. Webb’s unconfirmed Chapter 13 case to apply against his delinquent child support. Affirming the bankruptcy and…