A Chapter 13 debtor who had no loan or lease payments was still entitled to deductions for expenses associated with his vehicles, the 1st Circuit Bankruptcy Appellate Panel has ruled in reversing judgment. Chapter 13 of the Bankruptcy Code now requires those with above- median incomes to pay their "projected disposable income" to unsecured creditors for an "applicable commitment period" of 60 months.
A debtor was not eligible for Chapter 13 bankruptcy status when he did not complete required debt counseling prior to filing his case, the U.S. Bankruptcy Appellate Panel for the Eighth Circuit held. The counseling provision is mandated by the Bankruptcy Abuse Prevention and Consumer Debt Act of 2005 (BAPCPA), which, among other amendments, introduced new eligibility requirements for individuals seeking bankruptcy protection.
A discharge of debts in a Chapter 13 case isn't barred by the Bankruptcy Code's new prohibition on the receipt of a discharge of debts within four years of obtaining relief under Chapter 7, the 6th Circuit has ruled. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 added [section]1328(f) to the Bankruptcy Code. The provision states that a Chapter 13 debtor may not receive a discharge of his debts if he "received a discharge ... in a case filed under Chapter 7 ... of this title during the 4-year period preceding" the filing of his Chapter 13 petition.
A married couple did not meet the income eligibility requirements for Chapter 13 bankruptcy relief - even when taking into account a loan from a family friend, the 1st Circuit Bankruptcy Appellate Panel has ruled in affirming a dismissal. Section 109(e) of the Bankruptcy Code provides that only an "individual with a regular income" is eligible to obtain relief under Chapter 13.
...In filing his petition under Chapter 7 of the Bankruptcy Code, petitioner Marrama misre... sought to convert the proceeding to Chapter 13, but the trustee and respondent bank, Marrama's pr... provisions of the Code and the Bankruptcy Rules, as creating a right to convert a case from Chapte...
A husband and wife were eligible for Chapter 13 protection even though their combined unsecured debts exceeded the limit provided in the Bankruptcy Code, a U.S. Bankruptcy Court in Kansas has ruled. The debtors are a husband and wife who had unsecured debts of $162,000 and $100,900, respectively, when they filed for Chapter 7 protection. They were also jointly liable on a second mortgage on their home, which exceeded the value of the property by $135,000.
An auto lender was not entitled to assert a deficiency claim in a Chapter 13 case, even though the debtors' vehicle was sold for less than the amount of the debt, the 8th Circuit Bankruptcy Appellate Panel has ruled. The debtors owed Capital One $20,280 secured by a purchase money security interest in a 2003 Chevrolet pickup truck. They surrendered the vehicle after filing for Chapter 13 protection. Capital One sold the vehicle for $10,363, leaving a deficiency of $9,917.
General Motors Acceptance Corp. (GMAC) asked the U.S. Bankruptcy Court for the Western District of New York to consider a retail installment contract as an executory contract, in reviewing a Chapter 13 plan in In re: Joseph D. Godsey, Jr. The district's chief bankruptcy judge, Judge John C. Ninfo, II, denied the creditor's objection to the Chapter 13 plan, finding no basis in law to classify GMAC's standard financing contract as executory to have the bankruptcy stay lifted. The court confirmed the debtor's plan to pay the replacement value of the vehicle in question, plus interest as determined by the court. Any balance on the loan would be treated as an unsecured claim.
A Chapter 13 debtor whose vehicle was repossessed doesn't have to pay the full redemption value to regain her car, the 6th Circuit Bankruptcy Appellate Panel has ruled. After her car was repossessed, a debtor filed a Chapter 13 bankruptcy petition. The creditor sought repayment of the accelerated balance on her loan, totaling $10,888.20, to redeem the car.
A bankruptcy court could establish local guidelines with standardized fees that limit an attorney's compensation in a Chapter 13 case - such guidelines do not violate the Bankruptcy Code, the 9th Circuit has ruled. Under rules established by the Bankruptcy Court for the Northern District of California, a Chapter 13 debtor's attorney may obtain a fee award by (1) submitting a fee application under "no-look" guidelines that establish presumptive fees for a "basic case," (2) submitting a detailed fee application based on the hours actually spent on the case, or (3) first submitting a no-look application and later submitting a detailed application seeking additional fees based on the hours actually spent.
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