A Chapter 13 is reorganization. The debtor, the individual or husband and wife filing the bankruptcy, maintain(s) possession of their exempt and non-exempt and pay(s) to the Chapter 13 trustee their disposable income for a period of at least 36 months and up to 60 months. In most cases, disposable income is the difference between […]
ISSUE: IN CALCULATING DISPOSABLE INCOME FOR CHAPTER 13 SHOULD COURT CONSIDER ACTUAL INCOME/EXPENSES OR LIMIT INQUIRY TO HISTORICAL FIGURES? Hamilton v. Lanning Argued: 3/22/10 No. 08-998 Court Below: 545 F.3d 1269 (10th Cir. 2008) [Summarized by: Cameron Soran] Full Text: http://www.scotusblog.com/wp-content/uploads/2009/10/08-998_ca10.pdf BANKRUPTCY (Whether when calculating the debtor’s projected disposable income during the plan period, the
I have seen statistics on the numbers of failed Chapter 13 cases and successful Chapter 13 cases. The number one reason a debtor’s case is dismissed is for delinquent Chapter 13 plan payments. In those cases, the debtor has been authorized to pay the Chapter 13 Trustee the Chapter 13 monthly plan payment. Remember, a
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People who cannot car payments, and/or owe back house payments, back IRS taxes, back child support, delinquent property taxes, and others may file for protection under Chapter 13 of the Bankruptcy Law to stop foreclosure on their home, repossession of their car(s), to stop IRS wage and bank account levies, and tax liens on their
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In what can only be described as an unusual move, the six judges of the Bankruptcy Court for the Northern District of Texas have jointly released an opinion on when a debtor can pay off a chapter 13 plan prior to its scheduled completion date under BAPCPA. In re Howard L. McCarthy, Jr., No. 06-40127-DML-13
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