Chapter 13 Case Permits Cramdown of Mortgages

Written by

Debtors In Bankruptcy in Tampa Area May Pay Only The Actual Value Of Their Homestead In Bankruptcy Provided Their Mortgage Terminates Before Five Years The 11th Circuit of the United States Court Of Appeals Ruled in American General Finance versus Richard W Paschen that the plain language of the Bankruptcy Code allows Debtors in Chapter 13 Bankruptcy to pay only the Secured Value or Fair Market Value of their Residential Property through the Chapter 13 Plan. The Unsecured portion of the Mortgage, which is the Read More +

Trustee Duties in Bankruptcy (part 2)

Written by

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.