I filed a chapter 13 back in 2011 on a 60 month plan. the
i filed a chapter 13 back in 2011 on a 60 month plan. the whole reason for having to file it was about $50k IRS debt that the interest and penalties were accruing so fast on it could never be paid. now im a few months from discharging it and i get a letter from the irs saying i still owe them $37k of that debt!! i looked at the plan and it states under IRS that 50k was scheduled, but only $13k is listed as claimed and that 13k has been paid 100%. so my questions are 1. what is the differance between scheduled and claimed 2. can the irs continue to claim debt that was part of a chapter 13 that was fully paid? isnt that the whole point of bankruptcy? to allow debtors to fully discharge their debts in 60 months and then start over?
CA. Bankruptcy question regarding relief from stay. •
CA. Bankruptcy question regarding relief from stay.• Foreclosure takes place• The buyer files eviction against the renters in the house.• Renters are on a year-to-year lease• During the eviction one of the renters files a bankruptcy, all eviction procedures are put on hold• Plaintiff files a motion for relief from stay.• Court grants the motion and orders the following.The Motion is granted under:a. 11 U.S.C. § 362(d)(1)b. 11 U.S.C. § 362(d)(2)Movant may enforce its remedies to obtain possession of the Property, including lockout, in accordance with applicable nonbankruptcy law, but may not pursue any monetary claim against the Debtor or property of the estate for amounts attributable to the period before the bankruptcy was filed except by filing a proof of claim pursuant to 11 U.S.C. § 501.Please explain what this order means.Thank you
I have another Bankruptcy question that has arisen and am
Hello,I have another Bankruptcy question that has arisen and am looking for help. My office is a govt agency that is a division of the CalEPA. Lets assume our claim is a non-priority claim. A company owed our office $30,000 from many, many years ago and then filed a chapter 11 bankruptcy in 1991. We therefore filed a Proof of Claim for the amount of money the company owed our agency. In 2010, the BK was converted to a chapter 7 case and the docket says "voluntary" and "assets". The docket also says "debtor disposition: discharge is not applicable" and that the BK was later terminated on 12/15/15.1. Hence, what happened to our Proof of Claim, meaning why didn't we get any payments? 2. Also, since this company is still in business today, could we still go after them for the money they owed us through regular collection efforts?
I am in the appeals court and my case was dismissed mainly
I am in the appeals court and my case was dismissed mainly because i could not afford to pay the arrearages for the mortgage.I appealed the lift of automatic stay and my objection to their proof of claim that was over ruled. Now the opposition has informed the appeals judge that my case was dismissed and now the appeal is constitutionally moot. because i did not appeal the dismissal of my bk. I have an apeallant brief due on monday. should i submitt my applleant brief anyway because the judge falsely back dated an indorsement on the note and if left unopposed im afraid it will prejudice me in my wrongful foreclosure suit.
This is a Chapter 13 question...the Debtor has student loans
Hello...This is a Chapter 13 question...the Debtor has student loans which are in deferment and not being paid back through the plan...however the creditor (govt backed student loan) filed a proof of claim which is about $4,000 higher than what the Debtor says it should be...any need to object...there is no plan treatment of this debt other than deferred paid outside the plan...thank you in advance for your assistance
An objection to my Chapter 11 plan came in 3 weeks after
An objection to my Chapter 11 plan came in 3 weeks after votes were due, from my main creditor. Obviously, they didn't vote. I'm trying to predict the outcome if I were to ignore this instead of accepting the high interest they demand, or stipulating to raise the interest rate by any amount. I would ignore it on the basis of its lateness; possibly because of invalid arguments. It would be a risk; my lawyer says the judge will consider it, even though it's late:"The judge will give the opposition some weight, even if it was untimely."(What are rules for? My lawyer always wants me to roll over. I have to fight to be fought for.)The lender doesn't mind being bifurcated and they don't dispute the stipulated value. They accept that the secured portion would be my entire loan amount. I asked for 3.75% interest. They want 6.5% and point to the bk code to justify that.My concerns: At 6.5% the payment would rise by $1000. It' higher than the rate I wanted to modify. The balance is $39K more than the balance when I started this loan mod thing in 2009. (But far less than balance and arrears combined.) The plan I proposed is very tight. I couldn't pay another $1000 even if I wanted to. The loan mod I was working on for 6.5 years would have been 2% in year one, rising to 3.5% over 5 years, but probably wouldn't have disposed of the portion of the debt above the property value; it would have been in forbearance.Question 1:The relevant part of the objection and the code they cite accompany this question. I don't see any connection between the two. Is there one?Now, the judge. She's been more than decent so far. She is asked to consider me a flake and confirm with a higher interest rate than the one in my plan. Will she?I don't know about her, but I don't buy the argument that I am high risk because I am a Chapter 11 debtor. I wouldn't be doing this if I weren't serious. This is my only problem loan; I didn't feel like giving away the $300K I had in this building; the former servicer was about to foreclose after improperly denying a HAMP. They denied it because they did the math wrong, and also failed to notify me or my lawyer, which meant I lost the chance to appeal... that is to say, extenuating circumstances. The judge cannot know that because my lawyer does not want to say it.This creditor acquired the loan, not just the servicing, right after the prior servicer had done their appraisal this spring. The servicer asked for two extensions for that--almost a month--so for this debt, this is the third extension they expect. In case that matters.Further, this lender has the collateral if I default. Their predecessor's appraiser brought it in $60K higher than the stipulated value we reached, and $60K above my appraiser's value. If they trust the appraisal they inherited, then there's some equity to make up for their low opinion of my reliability. (Big range).The lender says they want a higher rate because I'm likely to default. A higher rate would increase the odds of anyone defaulting. If the goal is to get the balance repaid, the odds are better at 3.75% than 6.5%. If the goal is to maximize profits, then it's a toss up. I'd re-fi out of this the second I could, if rates were low.Question 2Given all of the above, and the argument (attached) can you hazard a guess about how the judge would lean--confirm the plan I had, versus increase the interest rate for this late objection?
My Chapter 11 bankruptcy is close to being confirmed, and
My Chapter 11 bankruptcy is close to being confirmed, and that is good, but one thing rankles. It is that an unimpaired creditor submitted a bogus document in the proof of claim (POC). My lawyer says there is no reason to object to it or make any kind of complaint about it because I am not objecting to the claim. Is that correct? I think people who fabricate loan-related documents should be revealed in the light of day.(I would have objected based on some hi-jnks whit my payments in 2010, but I can't afford what my lawyer would charge me, which is $10,000 just to write and file the motion).It's a mortgage, and what the company submitted was an assignment of deed of trust dated 9 days after I filed for BK in 2015. It was from MERS to the Company, and signed by a Company employee who was not identified as such on the transfer of deed. He was deemed a "MERS assistant secretary." There was a similar document created in 2010, when a different Company employee was the MERS secretary, and she signed over the deed of trust and the note to her real employer at that time. Thus, MERS no longer had a right to transfer the deed in 2015.More to the point, the deed and the note, which I signed as borrower in 2007, make no mention of MERS. The original lender was Downey, which was shut down by the FDIC, and officially its assets went to US Bank. I can't figure out how MERS ended up with the ability to transfer my note and deed in 2010, or why the Company now claims it owns my note. The MERS search tool says Fannie Mae is the investor.On the last page of the copy of the note the Company included in their POC, there is stamp, I would like to know what it means that it is unaltered from the time I got the loan onwards. It looks like no one has ever signed the note over to anyone one. Just curious. My real question is above.
A person, CH, is in Chp. 13,, bankruptcy. CH has a judgement
A person, CH, is in Chp. 13,, bankruptcy. CH has a judgement against her in a county civil court from a bank. That first started in 2010. Case was reopened in 2015, and judgement was for the plaintiff for $49,000 in June 2016.In April 2016, CH filed a new amended Chp. 13 plan which was confirmed May 2016. The Bank was a creditor and still gets certificates of notice. However the bank is not listed in CH amended plan as either a secured or unsecured claim. Is this allowed?? Does CH have to inform trustee of this new judgement of June 2016 for $49,000.