Bankruptcy Law
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Debtors may modify claim secured by mobile home
Chapter 13 debtors may seek to modify the secured claim that a lender had on their mobile home – recent amendments to the Bankruptcy Code haven’t rendered state law inapplicable to the classification of such property, the 6th Circuit Bankruptcy Appellate Panel has ruled in reversing a bankruptcy order.
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May 5, 2008
Trustee can’t set aside debtors’ home refinancing
A bankruptcy trustee can’t set aside debtors’ home refinancing as a preferential transfer, the 11th Circuit has ruled.
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May 5, 2008
Chapter 13 debtor can sue over unfair collection tactics
A plaintiff didn’t lose standing to bring a federal suit over unfair debt collection practices when she filed for Chapter 13 bankruptcy protection, the 10th Circuit has ruled in reversing a dismissal.
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April 21, 2008
Actual amount required to repay 401(k) loan excluded from ‘income’
In calculating the repayment of loans to a Chapter 13 debtor’s 401(k) accounts, only the actual amount required to pay the loans is excluded from “disposable income,” the 8th Circuit Bankruptcy Appellate Panel has ruled.
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April 7, 2008
Debtor can’t deduct vehicle expense
Chapter 13 debtors cannot deduct a monthly vehicle ownership expense where they own the vehicle outright and make no monthly payments, the 8th Circuit Bankruptcy Appellate Panel has ruled in reversing an order approving their plan.
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March 24, 2008
Creditor gets ‘prime-plus’ interest in bankruptcy case
A creditor was only entitled to a “prime-plus” interest rate on its secured claim regarding a pickup truck owned by Chapter 13 debtors, the 5th Circuit has ruled in affirming judgment.
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March 24, 2008
Debtors who surrender car don’t have deficiency claim
Debtors who chose to surrender their car rather than pay off the car loan aren’t entitled to a deficiency claim where the collateral is worth less than what they owed on the loan, the 6th Circuit has ruled.
