What Are the Trustee Duties in Bankruptcy? (part 3)

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Part Three: Duties Of Trustee As Pertains To Personal Injury Lawsuits And Settlements What are the Bankruptcy Trustee’s Duties when there is an active Personal Injury Lawsuit during the pendency of a Bankruptcy? Bankruptcy Code Section 330, Section 326, Section 328, and 329, is one of the clearer and better written portions of the code, and it clearly spells out the duties of the Bankruptcy Trustee and the Personal Injury Attorney, who is representing the Debtor in the Personal Injury matter. The Duties of the Read More +

Trustee Duties in Bankruptcy (part 2)

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Part Two: Trustee Duties In Bankruptcy The Duties of the Chapter 7 Bankruptcy Trustee and the Chapter 13 Bankruptcy Trustee are substantially similar but there are some minor differences. The Chapter 13 Bankruptcy Trustee under Bankruptcy Section 1302(b)(4) must, in addition to his Duties enumerated in Part One of our discussion, advise, other than on legal matters, and assist the Debtor in performance under the plan, and ensure that the Debtor begins to make timely payments as required under the Chapter 13 Bankruptcy Plan.

What Are the Trustees Duties in Bankruptcy?

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Part One: Trustees Duties In Chapter 7 Bankruptcy And Chapter 13 Bankruptcy The Duties of the Chapter 13 Trustee and the Chapter 7 Trustees Duties in Bankruptcy are largely similar. Bankruptcy Code Section 1302(b)(1) states that the Chapter 13 Trustee must perform the duties specified under Bankruptcy Code Sections 704(2), 704(3), 704(4), 704(5), 704(6), 704(7), and 704(9). These Sections of the Bankruptcy Code govern both Chapter 7 Bankruptcy Trustees and Chapter 13 Bankruptcy Trustees. Bankruptcy Code Section 704(2) states that the Trustee must be accountable Read More +

Cramdown of Mortgages on Principal Residences in Bankruptcy

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Argument For Allowing Debtors To Pay Secured Value Of Homestead Through Chapter 13 Bankruptcy For Debtors who file Chapter 13 Bankruptcy, the Bankruptcy Code permits them to Cramdown or pay only the Secured Value of Fair Market Value of an Investment Property or Non Homestead Property through the Chapter 13 Bankruptcy Plan. However, Bankruptcy Code Section 1322(b)(1) states the “plan may modify the right of holders of secured claims, other than a claim secured only by a security interest in real property that is the Read More +