Bankruptcy Blogs

Mortgage Cram-Downs On Investment Property In Chapter 13 Bankruptcy

11/26/11

Chapter 13 permits debtors to “cram down”, or reduce, the amount of a mortgage on investment property to the property’s current market value. A client recently asked me if the Chapter 13 cram down eliminates past-due mortgage payments and if the “cram down” can include a reduction of the mortgage interest rate in addition to the mortgage balance.

My experience is that a Chapter 13 plan will not eliminate past-due payments but can add the arrearage to the loan balance after cram-down.

[more]

Mortgage Cram-Downs On Investment Property In Chapter 13 Bankruptcy

11/26/11

Chapter 13 permits debtors to “cram down”, or reduce, the amount of a mortgage on investment property to the property’s current market value. A client recently asked me if the Chapter 13 cram down eliminates past-due mortgage payments and if the “cram down” can include a reduction of the mortgage interest rate in addition to the mortgage balance.

My experience is that a Chapter 13 plan will not eliminate past-due payments but can add the arrearage to the loan balance after cram-down.

[more]

Can I discharge back utility bills through the bankruptcy process?

11/25/11

When people are current with their utility bills, utilities rarely become an issue in bankruptcy.  That is because Section 11 U.S.C. § 366(a), prohibits utility companies from discriminating against people based solely on bankruptcy filing.  However, often being current is not the case and people seek to discharge their back utilities debts through bankruptcy. You [...]

[more]

In Memoriam: John Worthy Alvis, 1945-2011

11/25/11

Normal 0 false false false EN-US X-NONE

[more]

Bankruptcy Exemptions: The Injuries of Benn (Part IV)

11/25/11

Getting compensated for injuries is personal.  It’s meant to replace a loss to you as a person.  Missouri exemption law recognizes that.  Yet the recent evolution of those exemptions in bankruptcy (here, here, and here) has set up an unusual conflict between state and federal law. Until the Benn decision discussed previously, Missouri cases were [...]

[more]