[CLBS] Chapter 20s

[Randy French]

I think that the issue is that your home has at least some equity to secure
the 2nd at the time that you file the ch 13.  I do not believe that you can
rely upon the value of the home when the ch 7 was filed or the amount of
debt owed on the first when the ch 7 was filed.

Ch 20s are still available and lien stripping in a ch 20 is possible.  But,
you have to be able to show that there is no equity in the property above
the senior lien(s) to secure the 2nd.

Randy French

Law Office of Randal J. French, P.C.
Attorneys at Law
AP.O. Box 836 PBoise, ID 83701 B(208) 859-6881  

IMPORTANT NOTICE: This communication, including any attachments, may contain
information that may be confidential or privileged and is intended solely
for the entity or individual to whom it is addressed. If you are NOT the
intended recipient, you must delete this message and attachments and are
hereby notified that any disclosure, copying, or distribution of this
message is strictly prohibited. Nothing in this email, including any
attachment, is to be a legally binding signature.





-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Jon Wilson
Sent: Friday, October 21, 2016 12:33 PM
To: clbs at admws.idaho.gov
Subject: [CLBS] Chapter 20s

Chapter 20s are possible, but I have not had a situation where the possible
issues is raised years after a chapter 7 was filed and discharged received
by debtor.

 

Is it possible to file a Chapter 7 in year one and 7 years later file a
chapter 13 to strip the 2nd DOT lien.

 

Basic facts, the 2nd was not secured by any equity when chapter 7 was filed
in year one, debtor did not reaffirm on either the 1st or 2nd.   7 years
later, the home has a value in excess of the 1st DOT.  It doesn't seem
likely since the consensual lien has remained against the home and has
subsequently increase in value.  Any thoughts, verifications, etc.  Thanks. 

 

Jon

Jon R. Wilson

Attorney at Law

 

Wilson Law Offices, P.C.

4614 W. Emerald St.

Boise, ID 83706

Tel. (208)343-8400

Fax (208)424-5006

Email:  jon at boiselaw.org <mailto:jon at boiselaw.org> 

 

CONFIDENTIALITY NOTICE:  The preceding message (including any attachment, if
any) is covered by the Electronic Communication Privacy Act, 18 U.S.C.
sections 2510-2521, is CONFIDENTIAL, and may also be protected by the
ATTORNEY/CLIENT OR  OTHER PRIVILEGE.  If you believe that this message has
been sent to you in error, do not read any further portion of the message
other than the remainder of this notice, please reply to the sender that you
have received the message in error, and delete the message.  If you are not
the intended recipient, you are hereby notified that any retention,
dissemination, distribution, or copying of this communication is strictly
prohibited.  We do not waive any attorney/client or work privilege by the
transmission of this message.  Thank you.

 

_______________________________________________
CLBS mailing list
CLBS at admws.idaho.gov
http://admws.idaho.gov/mailman/listinfo/clbs