Kentucky Bankruptcy Law

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Miscellaneous Hot Topics in the EDKY

Most of the items in this Chapter 13 Trustee’s blog post pertains mainly to your Chapter 13 attorney. However, the section about obtaining a new car while in your Chapter 13 is very pertinent to you as a Debtor. This is no longer a streamlined process. Now, you will have to have a more in-depth communication with you attorney. Also, you will need to plan on spending more time shopping around for the least expensive car that will meet your needs and a reasonable interest rate.

You may think you are limited to the buy here/pay here type of car sales. However, most of the larger new and used car dealers are familiar with Chapter 13 issues and they will work with you. One of the things your car dealer needs to understand is that the new debt would not be discharged at the end of the Chapter 13 so it is “safe” to loan to you in that respect. It could be surrendered and discharged if you convert to a Chapter 7, but let’s not go there. No need to make your dealer nervous.

Chapter 13 Trustee, EDKY: Trustee's Blog

This post briefly discusses the following topics: Amended Federal Rules of Bankruptcy Procedure eff. 12/1/16; Motions to Incur Debt for Purchase of Vehicle; Motions to Compel Debtors to File Notices of Address Changes; and the 2017 Judge Joe Lee Bankruptcy Institute.

AMENDED FEDERAL RULES OF BANKRUPTCY PROCEDURE BECAME EFFECTIVE 12/01/2016:  Of particular importance to creditors’ attorneys is Rule 3002.1(a), which governs notices relating to claims secured by a security interest in the debtor’s principal residence.  The rule is now applicable to claims “for which the plan provides that either the trustee or the debtor will make contractual installment payments.”  The amended rule also provides that unless the court orders otherwise, the notice requirements of Rule 3002.1 cease to apply when an order terminating the stay is entered.

All practitioners should note that Rule 9006(f) removes the 3-day additional time for taking action if service is by electronic means.

MOTIONS…

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December 8, 2016 Posted by | Uncategorized | Leave a comment