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Deduction requires actual payments
It has been a long and winding road for Wisconsin bankruptcy attorneys who file under Chapter 13 when an above-median income debtor owes no money on his car.
09-907 Ransom v. FIA Card Services, N.A.
Bankruptcy Means test; car payments A debtor who does not make loan or lease payments may not take the car-ownership deduction. The vehicle-ownership category covers only the costs of a car loan or lease. The expense amount listed ($471) is the average monthly payment for loans and leases nationwide; it is not intended to estimate […]
10-34145 In re George
Bankruptcy Exemptions A debtor who cannot exempt property under either the Wisconsin state exemptions or another state’s exemptions can use the federal exemptions under sec. 522(d). “The context of the exemption statute in the state court judgment enforcement provisions and the express reference to Illinois residents in § 12-1101 strongly suggests that only Illinois residents [&hellip[...]
10-12245-13 In re Holmdahl
Bankruptcy Foreclosure sales Where the debtor’s house was bought at a sheriff’s sale after foreclosure, but the down payment was forfeited, the down payment is to be used to reduce the debtor’s arrearages on the house. “In truth, the forfeited funds constitute an unusual ‘payment’ on the loan which the parties likely never contemplated. However, […]
09-12461-7 In re Rieck
Bankruptcy Discharge; fraud Summary judgment on a debt’s nondischargeability for fraud is inappropriate where the debtor is a contractor, and there is a factual dispute whether he was negligent or committed an intentional theft. “In essence, there is a dispute as to which of the company’s principals was the ‘intentional’ tortfeasor and which, if either, […]
08-16947-7 In re Casper
Bankruptcy Discharge; exceptions; misrepresentation Where both the debtor and the creditor were engaged in a property flipping scheme, the creditor’s reliance on the debtor’s misrepresentations was not reasonable, and the debt can be discharged in bankruptcy. “It is also true that the fresh start offered by the bankruptcy code is limited to the ‘honest but […]
09-16668-7 In re Neale
Bankruptcy Fraud; dismissal Where an adversary complaint seeks to except a debt from discharge because of fraud, but fails to include allegations how the debtor defrauded the creditor, it must be dismissed. “The bankruptcy code only authorizes a discharge for the proverbial ‘honest but unfortunate debtor.’ Grogan v. Garner, 498 U.S. 279, 287, 111 S. […]
09-24918 In re Kearney
Bankruptcy Modification; tax refunds Where a debtor who proposes modification of her confirmation plan only has less disposable income because she has increased her expenses unreasonably, the motion for modification is denied. “In reaching this conclusion, the Court is not creating an absolute rule that an above-median income debtor who modifies her plan and decreases […]
10-cv-388 GRI Wisconsin, Inc., v. Reedsburg Utility Commission
Bankruptcy Administrative priority; electricity Electricity is a good for which the provider is entitled to claim administrative priority for the electricity it provided during the 20-day period before the bankruptcy petition was filed. “I agree with those courts concluding that electricity is movable, tangible and consumable, that it has physical properties, that it is bought […]
Attorney’s fees discharged in bankruptcy
Attorneys who represent clients in precarious financial conditions continue representation at their own financial risk.
09-219 Rice, Heitman & Davis S.C., v. Sasse
Bankruptcy Fraud An attorney could not get an exception to discharge a client’s debt on the basis that he was fraudulently induced to continue representing him. “The plaintiff’s argument is that he ‘trusted’ the debtor, but arguably the creditor in Huang trusted the debtor to honor various prepetition representations about bankruptcy as well. A prepetition […]
10-10101-7 In re Lark
Bankruptcy Exemptions; tax refunds The right to receive a tax refund is not a “depository account” that can be exempted from the bankruptcy estate. “The right to a refund is more akin to other claims the debtor might possess than it is to an account held with a financial institution. A debtor who holds a […]
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