Exempt funds may constitute disposable income to be used to pay unsecured creditors under a Chapter 13 plan if the funds are not necessary for the debtor's support. Here, the exempted personal injury settlement proceeds were not needed for support.
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The court denied summary judgment because fact questions existed as to whether the debtors transferred or concealed property, failed to explain a loss of assets, or made false representations when they withdrew money on a home equity line of credit.
Although the defendant in this action to recover alleged preferential & fraudulent transfers demanded a jury trial, he also filed a proof of claim in the bankruptcy case, which subjected him to the bankruptcy court's equitable power and waived a jury.
The deed of trust holder's motion for relief from stay was denied without prejudice to permit the debtor to resume making monthly payments and cure payments. If debtor becomes delinquent again, the creditor is entitled to relief without a hearing.
The court denied plaintiff's motion for sanctions for certain discovery disputes. Neither side had completely abided by discovery rules. The problems were solvable, so the parties were directed to try again to comply with the discovery requests.
An unsecured junior lien on the debtor's residential real estate may be avoided after the debtor completes Chapter 13 plan payments. The case law in the Eighth Circuit, interpreting Nobelman, permits wholly unsecured liens to be stripped off.
An unsecured junior lien on the debtor's residential real estate may be avoided after the debtor completes Chapter 13 plan payments. The case law in the Eighth Circuit, interpreting Nobelman, permits wholly unsecured liens to be stripped off.
Under Supreme Court authority and § 1325(a)(5)(B), a plan should provide for the payment of interest to a lender on pre-petition arrearages in order to give the lender the present value of its claim, regardless of whether the loan documents so provide.
In exempting tools, the court said, "There is no statutory requirement of a continuous stream of income from the use of the tools for a claim of exemption to be allowed. There is a business, there is some advertising, and there is some hope [by debtor]."