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Recent bankruptcy law questions
What does this mean concerning Trustee wanting to Dismiss
What does this mean concerning Trustee wanting to Dismiss Case for Failure to make Plan payments. There has been unreasonable delay by debtor that is prejudicial to creditors pursuant to 11 U.S.C. Section 1307(c)(1)by failing to propose an adequately fundedplan, in that the total filed proofs of claims which are to be paid through the plan exceed the value of the plan filed by Trustee WM. Hearing scheduled 12/22/2015 at court room # ***** time. On Pacer docket yesterday.
This is a chapter 13 question. The debtor owes a significant
This is a chapter 13 question. The debtor owes a significant amount for unpaid income taxes. No allegations of fraud, etc. It was just assessed during 2015. The debtor has not yet filed a petition, but is in the process of drafting the chapter 13 plan. Because placing the entire amount of the unpaid taxes within the plan would drastically increase the monthly plan payment, the Debtor wants to leave her taxes out of the plan and pay the IRS directly while in chapter 13. Is this possible or does the entire tax debt have to be paid inside the chapter 13 plan. thank you in advance for your assistance.
In a chapter 13 banktrupty that started may of 2010. I had
In a chapter 13 banktrupty that started may of 2010. I had a 2008 Nissan Armada financed thru Nissan Motor Acceptance Corp. Balanced owed was roughly $35,000 and lawyer did a cramdown which the actual vehicle worth was $28,000. The remaining $7,000 was unsecured non priority claim. So I had to pay roughly $500 over the 60 month bankruptcy plan. The $7,000 balance was originally not gonna get paid due to the priority claims being paid first and wasn't anything left to be unsecured debt. So in January of 2014 the vehicle was in and accident and deemed a total loss by my insurer state farm insurance. So finally in August of 2014 we received a settlement from state farm and Nissan stating The vehicle is worth $17,000 and Nissan had the title and would need that $7,000 unsecured claim to release title. So state farm paid Nissan the $7,000 and and I received a check for $10,000. The $28,000 secured claim was paid in full from trustee and Nissan received $7,000 from state farm for the unsecured part. So account paid in full. Trustee then issued Nissan a check for $4,700 on September of 2014 to go toward the unsecured portion of $7,000. I called Nissan and they did admit that the account was overpaid and that they would get with trustee to see what they should do. So I called Nissan today and was told that the they spoke with trustee office and was told it was no refund due. Nissan also stated that since the account was charged off they were entitled to finance charges. So my question is that legally possible?? Can the trustee make that decision?? The plan was in place for 0% interest over the 60 months for that particular account.
In Chapter 11 bankruptcy case 03-00945, Fleming Foods; handled
In Chapter 11 bankruptcy case 03-00945, Fleming Foods; handled by the BMC Corporation (Bankruptcy Management Corporation)I was a named creditor with an unsecured priority claim for contributions to an employee benefit plan-11 U.S.C.507(a)(4). I thought I understood that unsecured priority claims did not require submitting proof of claim. I did call the BMC Corporation and asked if they had a claim for me and was told no at that time. The case closed this year in 2014, my question is, would the debt have been discharged without consideration of my claim and if not, what are the steps involved in getting my money? I did find my name listed in Pacer on a list of creditors. I have not been able to find my name on a schedule because of the number of debtors and creditors involved in this bankruptcy. Thank you for your time, it is valuable to me. I look forward to hearing from you soon.
Last year I made a purchase from a company which has entered
Last year I made a purchase from a company which has entered involuntary chapter 7 bankruptcy. I made my purchase around 9 months before this occurred, in which the guaranteed delivery date was missed and a refund was never processed. I would like to know if my proof of claim should show this debt as entirely unsecured or if some part of it would fall under 'Entitled to Priority under 11 U.S.C. §507(a)'.
An issue has arisen pertaining to a discharged Chapter 7. Apparently,
An issue has arisen pertaining to a discharged Chapter 7. Apparently, and much to my anger and chagrin the Fed taxes for years owed were not included due to an error. The attorney claimed it was not on the sheet of debts. I certainly was since it was scanned as well as delivered. Just got a IRS letter asking for their money.Can this issue be explained as the attorneys are impossible to deal with?
I am in the middle of a bitter bankruptcy. I field becauseView more bankruptcy law questions
ONLY ROGER ANSWER THIS PLEASE-I am in the middle of a bitter bankruptcy. I field because the old owner of the company sold me a lemon and I do not have enough money to pay the money I owe him which is around 1 million dollars. I have owned the company 3 years and still have not taken a salary. Anyway, my lawyers are inept (u get what u pay for!). I owe the union $300,000 of priority claims plus another $600,000 of unsecured claims. I own the old owner $1,000,000 totally unsecured. Can i put a plan together to pay the union 20 or 30 cents on the dollar for their priority claim and not pay any of the unsecured parts? The union will vote yes, they just want the membership. I WANT ROGER TO ANSWER THIS QUESTION-NOBODY ELSE PLEASE