Thought for the Day Archive – 2014:

Bankruptcy related insights and information

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Retroactive anulment of automatic stay.


New form for objection to assigned claims.


Mortgage periodic statement rule. Unfortunately, there is an exception for debtors in bankruptcy, even if debt is not affected by the bankruptcy.

* Escrow statements may be separate issue, look at loan documents and Regulation X.


Hawaii case on vesting surrendered property in secured creditor. In re Rosa, 495 B.R. 522 (Bankr. Haw. 2013). While case indicates no 9014 service is required, safer option is to provide full service of plan to creditor.


Be aware that if a tax return is filed late, and after the IRS prepares it’s own return (18 U.S.C. 6020), then unless the taxpayer signs the IRS return (6020(a) return) the IRS treats this as a return that was never filed (6020(b) return), and hence non-dischargeable under §523(a)(1)(B)(i). If the debtor does sign the IRS return, it is treated as a filed return even though prepared by the IRS (hanging paragrah after 11 U.S.C. §523(a).

* History and analysis of 6020 returns –


Judge Delano overruled Will’s objection to plan provision amortizing value of investment property over 12.5 years (with creditor’s consent) with first five years paid through chapter 13 plan.


Good summary of forgiveness of debt income, more nuanced than most bankruptcy attorneys know. (link expired and removed)


Judge Delano, sitting in for Judge Williamson, reduced post-petition mortgage proof of claim fee from $650 to $250, and disallowed in full $500 fee for objection to confirmation of plan providing for mortgage modification mediation on basis that that improperly modified the mortgage.


Analysis of fraudulent transfer law and resulting trusts in 4th Circuit decision. In re Pfister, 2014 WL 1492713 (4th Cir., 2014).


Sanctions for chapter 13 debtor’s attorney for misrepresenting post-petition dso arrearage in order to get plan confirmed.


3rd Circuit finds that pre-divorce order right to equitable distribution of marital property is allowable claim (and consequently is asset in spouse’s case that must be disclosed).