What is the interest rate of a cramdown?

The interest rate on a 'Cram down" is the Till rate (from a case about 20 years ago called In Re Till) which the Supreme Court said was the prime...

Do post-petition LLC profits not paid to the personal member have to be reported as income to the trustee?

Since LLCs are a pass through tax entity, if your LLC is profitable you will have to report the income on your taxes whether you actually take a...

We are an MRI facility that performed services for a patient back in 2008, she filed chapter 7 in February 2011 and is now

I agree with my colleagues that as part of the bankruptcy, you may be entitled to a payment from the settlement proceeds that are part of the...

Is it required to automatically send my returns every yr. If I filed a C13 and will it be dismissed if I only send 1/2 my refund

How are we to know? What you are required to give to the Trustee depends on what your plan says and what obligations it imposes. You need to read...

I filed a Chapter 7 bankruptcy in June, it was discharged in October. I called the IRS to see what was going on with my refund I

In some districts it is routine for the Trustee to direct the IRS to pay any and all refunds to the Trustee. If you filed your bk in June of 2013,...

$1700.00 for Ch. 7 in KY. Is this excessive or average?

$1,700 is perfectly reasonable and about what I would charge, assuming this includes the filing, credit counseling and financial management course...

Assuming you did not reaffirm your mortgage, since you would incur expenses to sell your home, why do it? Stay in the house, stop paying the...

I took out money from my 401k while under Bankruptcy 13, Florida. Am I in trouble?

They are coming to take you away. Forever. throw away the key. Ever read the Count of Monte Christo? It is Chateau D'If time. NOT REALLY. ...

I filed chapter 13 7 years ago. The boat is in mine and my Ed's name. He was able to keep the boat. I eventually got the boat

As long as the payments are being made the bank should not care who is making them. Further the bank has no business trying to decide the rights...

Is my wife responsible for paying back my debt if she settles her lawsuit and the trustee decides to reopen the case.

Has the trustee filed a Motion to Reopen the Case? When was the discharge granted and was the case closed after the discharge? That does not...