Some of my bankruptcy clients are considering Chapter 13 bankruptcy to save their homes and strip off a second mortgage. These people are simultaneously investigating a modification of their first mortgage through one of the mortgage modification ... Read full article
Yes, Virginia, you CAN change your Chapter 13 bankruptcy payment if something changes in your situation. ... Read full article
Chapter 13 bankruptcy provides debtors the ability to cram down mortgages on their investment property provided that the investment mortgages be paid in full during the Chapter 13 plan. The cramdown opportunity is designed to help the debtors save their ... Read full article
Chapter 13 plans have a very high completion rate when debtors agree to pay using a wage deduction order. Payment is more likely when deducted from your paycheck as opposed to having to discipline yourself to give the Chapter 13 payment priority over ... Read full article
The article discussed in the N.Y. Times story today is heavily empirical. It is also deliberately light on the prescriptive. ... Read full article
As Adam noted in his kind post, the New York Times today featured our study, "Race, Attorney Influence, and Bankruptcy Chapter Choice." My co-authors are Credit Slips blogger Jean Braucher, a law professor at the University of Arizona, and Dov ... Read full article
The U.S. Supreme Court ruled today that a debtor in bankruptcy is not allowed to take a deduction on the so-called means test for ownership costs for a vehicle, unless they are actually buying or leasing a vehicle. What does this mean? ... Read full article
Most people are optimistic about their future including most of my clients who file Chapter 13 bankruptcy. People believe, or hope, that bankruptcy’s protection will lead them to increase their future salary or business profits. A common question is ... Read full article
Chapter 13 debtors can cram-down mortgages on investment property to the amount of the property’s fair market value. People considering Chapter 13 to remedy upside down investment properties often ask how the cram-down works. Their questions cover issues ... Read full article
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 ... Read full article
There is now a difference of opinion in the published cases about whether means testing applies to determine chapter 7 eligibility in a case converted from chapter 13. Last month, Bankruptcy Judge Burns of the District of New Jersey decided In re Fox , ... Read full article
The Ninth Circuit BAP has spoken on the “hanging paragraph” issue , siding with consumer lenders. Ever since the enactment of BAPCPA, some have claimed that poor legislative drafting must be read as substantially liberalizing the treatment of certain ... Read full article
Most people are optimistic about their future including most of my clients who file Chapter 13 bankruptcy. People believe, or hope, that bankruptcy’s protection will lead them to increase their future salary or business profits. A common question is ... Read full article
Chapter 13 debtors can cram-down mortgages on investment property to the amount of the property’s fair market value. People considering Chapter 13 to remedy upside down investment properties often ask how the cram-down works. Their questions cover issues ... Read full article
