Reversal of Forture In a national TV ad campaign, Tom Selleck’s deep resonating voice touts the benefits of a reverse mortgage. He appears as the trusted spokesman for the loan. The sales pitch peddles the ability of senior homeowners to easily tap their home equity and receive a monthly stream of payments. Selleck is one of several celebrities who have advertised these loans over the years, namely: Robert Wagner, Henry […]
Imagine siblings Eli and Peyton Manning, Serena and Venus Williams or the Property Brothers-Drew and Jonathan Scott fighting over property division. It is hard to imagine these celebrities fighting, but for others, it does happen. It is conflict that involves more than sibling rivalry, beyond teasing, or competition. These conflicts are fraught with ugliness when siblings are co-owners of property. In fact, often, when filing a bankruptcy case, debtors hold […]
“It is said that nothing is certain except for death and taxes, but today the Court is asked a question about death and discharge, for which there is some uncertainty in the Chapter 13 context.” see In re: Meadows 2020 Bankr. Lexis 3050 (Bankr. D. Utah 2020) When a debtor dies during a Chapter 13 bankruptcy, the case does not automatically end. Instead, several options are available depending on the […]
By Michael B. Joseph (Printed with permission, NACTT Academy, Considerchapter13.org, July 28, 2024) Could it be that chapter 13 got it right? How does the recent United States Supreme Court holding in Harrington v Purdue Pharma impact chapter 13 cases? See Harrington v. Purdue Pharma L.P., 219 L. Ed. 2d 721 (Sup. Ct. June 27, 2024). The Court held the bankruptcy code does not authorize a release and injunction as […]
1521 Concord Pike
Treatment of Luxury Assets Under Chapter 13
Trustee: “Is this expense necessary?”Debtor: “It brings me joy!”Trustee: Eyebrows raisedDebtor’s Attorney: Does it matter? It’s secured.“ It is once again time to reexamine debtors who elect to retain and pay for luxury items in Chapter 13. We look to the often-cited 9th Circuit case of Drummond v. Welsh 711 F3rd 1120 (9th Cir, 2013). What has transpired since 2013? How have courts addressed retention of and payments for certain […]