Consumer Bankruptcy Chapter 13

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
News & Analysis as of

How do I Know If I Qualify for Chapter 7 Bankruptcy?

Periodically the United States Trustee’s Office updates the income limits used to determine whether or not you qualify for a chapter 7 bankruptcy filing. Overwhelmingly people that file for bankruptcy file under chapter...more

Burr Alert: SCOTUS to Resolve Circuit Split on Interplay of FDCPA and Bankruptcy Code

On October 11, 2016, the Supreme Court of the United States granted cert in Midland Funding, LLC v. Johnson, No. 16-348 (Oct. Term 2016) to resolve a split among the Circuits as to the FDCPA’s prohibition against deceptive...more

Bankruptcy Court Assesses Sanctions on Mortgage Servicer for Failure to File Notices Relating to Residential Mortgage Loans

In re Gravel, ____ B.R. _____, Case Nos. 11-10112, 11-10281, 12-10512, 2016 WL 4765773 (Bankr. D.Vt. September 12, 2016) - In September of 2016, the United States Bankruptcy Court for the District of Vermont assessed...more

The Ultimate Arizona Bankruptcy Guide – Pt. 6 – The Meeting of Creditors

After your bankruptcy case is filed with the Arizona bankruptcy court the clerk of the bankruptcy court will send out written notification of your bankruptcy to all of your creditors that were provided in the bankruptcy...more

This Just In – Supreme Court to Provide Clarity on Whether Collection of Time-Barred Debts in Bankruptcy Violates the Fair Debt...

We all remember The Devil and Daniel Webster – the Devil comes to collect a seven year old debt (secured by Jabez Stone’s soul), only to be foiled by the great trial lawyer Daniel Webster – thanks to a skilled litigator, the...more

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

4th Circuit: Filing Proof of Claim on Time-Barred Debt Did Not Violate FDCPA

A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) by filing proofs of claim in bankruptcy cases on debts that were time-barred by Maryland’s statute of limitations (SOL), a divided U.S. Court of...more

Fourth Circuit Falls in Line with Second and Eighth Circuits Holding that Filing a Proof of Claim on a Time-Barred Debt Does Not...

In Dubois v. Atlas Acquisitions LLC, Case No. 15-1945 (4th Cir. Aug. 25, 2016), the Fourth Circuit Court of Appeals held in a 2-1 decision that filing proofs of claim on time-barred debts does not violate the Fair Debt...more

Tick Tock: Proofs of Claim, the FDCPA and Stale Debt Clock

On August 25, 2016, the Fourth Circuit Court of Appeals issued its opinion in Dubois v. Atlas Acquisitions LLC, (In re Dubois), No. 15-1945 (4th Cir. Aug. 25, 2016) and joined a majority of other circuits holding that the...more

Non-Final Finality: Does One Interlocutory Issue Resolved in a Bankruptcy Court Order Render All Issues Addressed in the Order...

As the Supreme Court recently reminded us in Bullard v. Blue Hills Bank, not all orders in bankruptcy cases are immediately appealable as a matter of right. Only those orders deemed sufficiently “final” may be appealed...more

You Get a Car! You Get a Car! Bankruptcy Court Gives Debtor a Car. Unsecured Creditors Get Nothing.

So, a ruling came out in June that we in The Bankruptcy Cave have been dying to blog about (and not just so we can use the blog title above). Forgive the delay – heavy workloads and summer vacations often preclude timely...more

Consumer Financial Services Newsletter - July 2016

Eighth Circuit Holds That Filing Accurate Proof of Claim on Time-Barred Debt Does Not Violate the FDCPA - Nelson v. Midland Credit Mgmt., Inc., No. 15-2984, 2016 WL 3672073 *1 (8th Cir. July 11, 2016) - On July 11,...more

Chapter 13 Plans are Just About Written in Stone

Recently, a bankruptcy judge in the United States Bankruptcy Court for the Eastern District of North Carolina issued a ruling that should help lenders dealing with borrowers in Chapter 13. In a case entitled In re Royal, the...more

Debtors’ Lien-Stripping Attempt Likely Would Have Succeeded in New Hampshire

A North Carolina bankruptcy court recently denied a Debtors’ attempt to “strip off” a junior lien on their primary residence by rejecting the argument that the property should be valued near the time of plan confirmation. In...more

Mortgage Lenders Entitled to the Benefit of Their Bargain: Fourth Circuit Applies Default Interest Rate to Mortgage Payments Made...

Good news for residential mortgage lenders: the Fourth Circuit recently held that post-petition mortgage payments under a Chapter 13 “maintenance and cure” bankruptcy plan should be calculated using the default interest rate...more

Take Notice of This Change: Supreme Court Adopts Recommended Amendments to Bankruptcy Notice of Payment Change Rule

Come December, the requirements surrounding notices of payment change (“PCNs”) for certain mortgage loans in bankruptcy will change. The Supreme Court, on April 28, 2016, adopted various proposed amendments to the Federal...more

Chapter 13 Debtor Unable to Modify Confirmed Plan to Surrender Collateral

The U.S. Bankruptcy Court for the Eastern District of North Carolina in In Re Reuben Samuel Royal, Case No, 14-07134-DMW (May 2, 2016) recently concluded that the Chapter 13 debtors cannot surrender a vehicle back to the...more

The District of Massachusetts Calls for Review of Practice of “Surrendering” Underwater Property

For secured lenders, a consumer debtor’s chapter 13 bankruptcy filing can be a mixed bag. A chapter 13 bankruptcy petition often is utilized by a consumer debtor to avoid a foreclosure by allowing a debtor time (usually...more

When One Spouse Files for Bankruptcy, But Not the Other

When a Chapter 7, 11, or 13 case is filed, a new entity is created called the bankruptcy estate. A bankruptcy estate is comprised of all of the debtor’s non-exempt legal or equitable interests in property as of the time of...more

The Ultimate Arizona Bankruptcy Guide – Pt. 3 – Getting the Process Started

After a determination is made whether a chapter 7 bankruptcy or a chapter 13 bankruptcy would be better suited to solving your debt situation, it is time to get the ball rolling and start the process. You should be...more

West Coast Real Estate Update: Feb. 2016 #1

Residential Communities: Proposed Amendment to Allow Owners' Attorneys at Association Board Meetings - In an attempt to further broaden when a member of a common interest development association can bring his or her...more

The Ultimate Arizona Bankruptcy Guide (pt. 2)

There are different types of bankruptcy designed to help different types of debt problems. Most consumers file either a chapter 7 or chapter 13 bankruptcy. In this article I will walk you through the differences between a...more

Ninth Circuit Permits Lien-Voidance for Chapter 20 Debtors

Bankruptcy practitioners routinely advise secured creditor clients to file protective proofs of claim in bankruptcy proceedings despite those clients’ ability to ignore bankruptcy proceedings and decline filing claims without...more

How Long Is Too Long To Reopen A Bankruptcy Case?

In a per curiam opinion that is not precedential but of interest to lenders who take mortgages as security, the Court of Appeals for the Third Circuit decided that the Debtor’s effort to reopen her bankruptcy case was too...more

New Case Poses Threat to Mortgage Servicers in Bankruptcies

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

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