Abstract: For debtors facing financial distress in the twilight of their working years or beyond, bankruptcy’s promised fresh start may depend more on preserving retirement assets and benefits than returning to economic productivity. Even for those in the prime of their working years, losing retirement assets can represent a major lifelong setback. As a result, the question of whether consumer debtors can keep all or part of their retirement assets and benefits is a critical consideration.

Summary: The Phillips filed a Chapter 13 bankruptcy and successfully avoided the judgment lien held by McInnis. The Order allowing the avoidance provided that: 3. The Judgment lien of the McInnises is declared to be void and shall be removed of record upon the completion of the Chapter 13 Plan of the Debtors and entry of the discharge in this case pursuant to Section 506 of the Bankruptcy Code. 4.

Summary: Ferguson obtained a judgment in 2008 against the Robert Dean, who, with his then wife, Lisa Dean, subsequently filed a Chapter 7 bankruptcy in 2010. Believing that the real property was held as Tenants by the Entireties, the judgment lien was not avoided and the Deans received a discharge. Subsequently, the Deans divorced with Mr. Dean transferring his interest in the real property to Lisa and her new husband. When Lisa sought to refinance the real property in 2015, the judgment lien was discovered.

Summary: Ms. Cain granted a Deed of Trust against her home securing a mortgage note to Household Realty Corporation (“HRC”), which was first specially endorsed to Household Bank, but HRC later specially endorsed the not to Beal Bank, which, following Cain’s default, appointed Rogers, Townsend & Thomas (“RTT”) as substitute trustee to commence foreclosure. After the Cumberland County Clerk of Court allowed the foreclosure sale to proceed, Cain appealed to Superior Court and sent a Request for Admissions to RTT.

Summary: In her Chapter 7 bankruptcy petition, Crawford listed several parcels of real property as “held” for other parties, when, in fact, these parcels (and two additional undisclosed parcels) were hers. Crawford also did not disclose in her Statement of Affairs that prior to filing her case, she had received $80,000 in insurance proceeds from a robbery, using $47,500 to pay debts to friends and family.

Summary: In his Chapter 7 petition, Mr. Fields listed a 1987 Porsche 911 as non-operational and worth $500. The Trustee, however, obtained a on-site appraisal, which found the vehicle to be operable and worth between $12,000 and $30,000. After the Trustee declined to object, Mr. Fields did receive his discharge, but was unable to buy the vehicle from the Trustee. Instead he sought to have his discharge revoked and to convert to Chapter 13. Relying on In re Marrama, 549 U.S. 365 (2007), the bankruptcy court held that due to both Mr.

Summary: The Coopers had a home equity line of credit with First Bank. They refinanced their home with AHMS, which directed First Bank to close the line of credit, but the closing attorney failed to do so.

Summary: Grimes owns real property with her husband as tenants by the entireties. After filing bankruptcy, she sought to avoid the fixing of three judgments at any later point against that property should it later cease to be held as tenants by the entireties, for example due to divorce or her husband’s death. The bankruptcy court, dissenting from In re Corey, 2013 WL 3788239 (Bankr. E.D.N.C. 2013), held that 11 U.S.C.

Summary: Abuharb filed his first Chapter 13 case, receiving a discharge on January 23, 2014, including any personal liability on a claim owed to Mission Valley Shopping Center (“MVA”) for a judgment in the amount of $38,093.14. At that time, Abuharb owned his residence at 8301 Rubblestone Path, but the Chapter 13 plan provided that the property was to be surrendered. When Abuharb subsequently obtained a loan modification for the mortgage on his residence, he neither modified the plan nor sought to avoid the judgment lien of MVA.

Summary: Conteh brought suit against Shamrock and its attorney for filing a writ of execution that overstated the amount owed. The actual judgment balance was $1,583.96, but the writ of execution asserted that Conteh owed $1,748.98. Following Powell v. Palisades Acquisition, 782 F. 3d 119 (4th Cir. 2014) the Court of Appeal reiterated that Conteh’s actual response was not the relevant standard, but instead how “the least sophisticated consumer” would have understood the overstatement.