Summary:
Creditor filed its Proof of Claim six(6) days after the bar date. Following the objection to the Claim by the Chapter 7 Trustee, the Creditor argued that the claim should be allowed due to excusable neglect. The bankruptcy court held that under Rule 9006(b)(3), it had no authority to extend the time to file claims.
For a copy of the opinion, please see:Meredith- No extension of time to file
Summary:
The Female Debtor received a bonus for 2010 in March 2011 ad filed Chapter 7 in June 2011. She claimed an exemption in an annual bonus under N.C.G.S.
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). BAPCPA was hailed by some as a sensible overhaul of the bankruptcy code aimed towards decreasing repeat bankruptcy filing rates. In this article, the authors consider specific changes that BAPCPA made to the Bankruptcy Code. Some of these changes were specifically targeted at the congressional view that repeat bankruptcy filings are largely the result of strategic and irresponsible behavior.
The characteristics of bankrupt households (such as income and asset levels) vary widely across states. This paper asks whether these variations can be attributed to state exemption laws or state garnishment laws. Using a new household-level dataset, the author finds that high exemption levels encourage high asset households to file for bankruptcy while high garnishment rates encourage low income households to file for bankruptcy.
In response to objections causing wasteful, unnecessary and inappropriate delay in the bankruptcy sale context, this article concludes that bankruptcy courts should employ a preliminary injunction-like standard for evaluating objections to bankruptcy sales. Employing a strict, preliminary injunction-like standard should decrease the possibility that parties-in-interest will introduce an improvident delay into the bankruptcy sale process. By preventing inappropriate delay, courts will ensure that parties receive an appropriate amou
Summary:
The Debtors’ home was damaged by Hurricane Irene while they were in Chapter 13. Their insurance issued a check for damages in the amount of $9,052.93 to the house and a second check for $1,376.54 for personal property, both payable jointly to the Debtors and Chase, the mortgage servicer.
The Debtors followed the instructions on Chase’s website for insurance checks in the amount less than $20,000.00, endorsing the check and forwarding it to Chase, believing that since they were current on their Chapter 13 payments, Chase would expeditiously return the money to
Summary:
In a property dispute between a sister, Ms. Lee, and her brother, Mr. Anasti, over real estate in South Carolina, Ms. Lee sought to assert superior title to Mr. Anasti though adverse possession. This matter was first commenced in South Carolina state court, but when Ms. Lee filed Chapter 7, later converting to Chapter 13, and brought an adversary proceeding asserting both adverse possession and seeking to avoid any interest Mr. Anasti had pursuant to 11 U.S.C.
This paper examines the determinants of missed payments and foreclosure initiation among a national sample of homeowners who filed for personal bankruptcy in 2007, using a rich dataset from the 2007 Consumer Bankruptcy Project.
