Pawn Loans May Be Modified in Chapter 13 if There Wasn’t a Default Before Filing
Eleventh Circuit limits its own precedent to say that pawn lenders aren’t entirely immune from bankruptcy.
Debtors Can’t Easily Glom Uncashed Distribution Checks
Just because a creditor doesn’t cash a distribution check doesn’t mean it’s abandoned and reverts to the debtor.
In ‘Chapter 20,’ Discharged Mortgage Claim Resurrects as Unsecured, EDNY Judge Says
Judge Grossman didn’t abolish ‘chapter 20’ entirely. He required the debtor to treat the subordinate mortgage lender like all other unsecured creditors, even though the debtor’s personal liability to the lender had been discharged in the prior chapter 7 case.
Judge Kendig Implies that Failure to Run a Lien Search is Tantamount to Malpractice
The debtors’ lawyer’s lack of diligence allowed the creditor to invoke laches and beat a belated motion to avoid a lien that impaired a homestead exemption.
Cross-Collateralization Turns Two Loans into One Claim in the Fifth Circuit
When personal property loans are cross-collateralized, a chapter 13 plan must use the same option for cramming down both loans, the Fifth Circuit says.