There is insufficient equity in debtors' residential property to secure any part of the third lien on the property. Pursuant to Nobelman v. American Savings Bank and In re Sanders, the lienholder's rights may be modified by the debtors' Chapter 13 plan
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Reported at 368 B.R. 5. When multiple vehicles serve as collateral, § 1325(a)(9) applies to the purchase money security interest incurred within 910 days of filing, so the debtor may pay that portion of the claim in full or surrender that collateral.
The court directed the debtors to file an amended Chapter 12 plan to deal with certain objections, including an administrative expense claim for attorney fees, a supplier's lien, and the payment of the IRS's priority claim.
The court denied confirmation of the debtor's Chapter 12 plan. He must file an amended plan to deal with certain priority (tax), administrative (attorney fees), and secured claims, and explain specifically how each objector's claim will be paid.
In Chapter 7, funds administered by the trustee are intended for payment of pre-petition debt, not for post-petition child support, and should be distributed according to the priority structure of § 726, usually pro-rata among each priority level.
Court denies motion for contempt of order against debtor, finding that the debtor is attempting to comply by making payments and obtaining funds not currently in the debtor's possession.
A creditor and its counsel were sanctioned for continuing to garnish debtor's wages. Counsel was unaware of a procedural change requiring a release of garnishment to be filed. However, he was notified twice before finally stopping the garnishment.
An agricultural input supplier's statutory lien was valid but was not timely perfected, so it did not have priority over subsequent lienholders. Thus, the debtors could enroll in Farm Service Agency programs and grant the FSA a first lien on crops.
Debtor, a homebuilder, executed deeds of trust to its lender on real estate actually owned not by the debtor but by related entities. The court denied lender's attempt at reformation of the deeds of trust to preserve the lender's superior lien interests
Debtor, a homebuilder, executed deeds of trust to its lender on real estate actually owned not by the debtor but by related entities. The court denied lender's attempt to reform the deeds of trust to preserve the lender's superior lien interests.