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Chapter 13 Case Permits Cramdown Of Mortgages
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…
What Are The Trustee Duties In Bankruptcy? (Part 3)
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,…
Trustee Duties In Bankruptcy (Part 2)
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…
What Are The Trustees Duties In Bankruptcy?
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),…
When Can A Student Loan Borrower Contest A Tax Offset?
Grounds To Fight The Government When They Seek To Take Your Tax Refund To Pay Student Loan Debt There are a number of Defenses that Student Loan Borrowers can use if the Department of Education or its Guaranty Agencies attempt to take your Tax Refund through a Tax Offset, in order to Collect on a…
Seizure Of Tax Refund To Collect Federal Student Loans, Part II
Notice Requirements Under Tax Refund Offset Program; Say What? By Jay Weller Under 31 USC Section 3720A(b), the Department of Education, through its Secretary, can refer a Debt for Offset only after having complied with certain procedures. The holder of the loan must mail written notice to the Borrower’s last known address, as determined by…
Seizure Of Tax Refunds To Collect Student Loans
The Federal Tax Refund Offset Program Unleashed! The Federal Tax Refund Offset Program involves a complete seizure of all tax refunds that are due to debtors who are in default on their student loans. The Program also permits the seizure of monies due debtors through Special Payments such as economic stimulus monies. The Federal Statute…
Cramdown Of Mortgages On Principal Residences In Bankruptcy
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…
Current Landscape Of Loan Modifications And Foreclosures
Resets May Lead To Higher Loan Modification Defaults By Jay Weller According to The Mortgage Monitor Report by Black Knight Financial Services for February, 2014, about 95% of rate reduction modifications are still facing resets. Although Loan Modifications have been declining for more than a year, Loan Modifications through the Home Affordable Modification Program (HAMP),…
The Banks’ Stealth Campaign To Increase Overdraft Fees
Bank Overdraft Fees At Record High By Jay Weller The average fee for Overdrafts, which is defined as withdrawing more more a checking account than a Customer has in their account, has been increasing to thirty dollars in 2013, an increase from twenty nine dollars in 2012 and twenty six dollars in 2009, according to…
New Technology To Reduce The Chances Of Credit Card Fraud
How Do I Reduce The Chance Of Becoming A Victim Of Credit Card Fraud? By Jay Weller Although the Credit Card companies are generally behind the efforts of fraudsters in preventing Credit Card fraud, there are some things you, as a Consumer, may do to stymie the efforts of these miscreants. For example, Capital One…
The Clampdown Begins On Payday Loans
PayDay Loans Under Increased Scrutiny From Federal And State Governments By Jay Weller Pay Day loans, although easy to procure, usually carry with them extremely high interest rates and burdensome terms and fees. Often Borrowers are caught in a mire where they need to continually borrow from such Lenders to pay their essential bills. Recently,…