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Chapter 13 Bankruptcy Archives

Mortgage Cramdown In A Chapter 13 Bankruptcy?

Cramdown.jpgIt is well established that the holder of a first mortgage can't modify the terms of the loan if the loan is on his primary residence. However, what if the mortgage is on a rental property which is not the debtor's primary residence, can the terms of the first mortgage be modified? Yes in a Chapter 13 bankruptcy, subject to strict rules.

Unprotected Sex Is Not Willful and Malicious Act For Purposes of Non-Dischargeability

throwing-a-punch-thumb.jpgIn the case of Cragen v. Maxwell the plaintiff (Cragen) believed he contracted a sexually transmitted disease from debtor (Maxwell) and threatened to sue her. To avoid suit, Maxwell agreed to pay Cragen $35,000. She signed a promissory note to which the plaintiff agreed to release her from any claims sustained by or resulting from contracting a sexually transmitted disease from Maxwell.

Credit Card Delinquencies Continue to Drop - Santa Rosa Bankruptcy

First-Savings-Credit-Card-thumb-275x206-28961.jpgCredit card delinquencies have reached a six-year low, according to the latest Credit Card Index from Fitch Ratings according to Consumer Bankruptcy News. The report also shows credit card charge-offs ticking up for the first time in the past several months.

Drug Dealing Debtor Keeps Discharge - Santa Rosa Bankruptcy

drug money-thumb-275x206-27396.jpgA couple was arrested with possession of and trafficking in heroin and crack cocaine after receiving a Chapter 7 discharge. What is that? It is an elimination of debts as if they never existed. A "discharge," when granted by the Court, terminates all liability for repayment, all obligations, rights and duties associated with the claim.

Former Trustee Sentenced For Fraud - Santa Rosa Bankruptcy

FBI_LOGO.pngWell, maybe a bankruptcy trustee can't be sued in state court under an intentional tort theory; this does not mean a trustee can't break the law. Former bankruptcy trustee Marika Tolz was sentenced to 81 months in jail, followed by 18 months of house arrest. In May, Tolz pleaded guilty to one count of conspiracy to commit wire fraud in a $16 million conspiracy. Tolz had been a member of the panel of Chapter 7trustees for the US Bankruptcy Court, Southern District of Florida, for more than 20 years.

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