[WSBARP] Off Topic Referral - Creditor representation in bankruptcy

[Jeff Davis]

Kary raises an important point.  Where are they at in the plan confirmation process?  The creditor needs to review the plan and the basis for the proposed treatment of the DOT.  It is odd to simply have it avoided, it is not like a judgment lien.  I have crammed down on DOT secured debt that is underwater, but we don’t know the facts.  

 

Jeff

 

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Kary Krismer
Sent: Wednesday, December 4, 2019 1:30 PM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] Off Topic Referral - Creditor representation in bankruptcy

 

I haven't practiced in over 12 years, and not at all under the current Act, but for property that is not the debtor's residence I don't see why they couldn't deal with both the secured and unsecured claim of a deed of trust in a Chapter 13 plan.  If the mortgagee didn't object I think they may be out of luck

Kary L. Krismer
John L. Scott, Inc. 
206 723-2148

On 12/4/2019 12:21 PM, Doug Owens wrote:

Dear Greg, I believe that is nonsense.  A deed of trust cannot be “avoided” or eliminated through bankruptcy.  Perhaps your clients should attend the creditors’ meeting and talk to the trustee.  I hope this is helpful.  Yours truly, Doug Owens





On Dec 4, 2019, at 12:03 PM, Gregory L. Gilday <cole-gilday at stanwoodlaw.net <mailto:cole-gilday at stanwoodlaw.net> > wrote:

 

I have some clients who are the beneficiaries on a DOT on a property where the owners/borrowers are currently in Chapter 13.  They list my clients in the Plan under the "Non-standard Provisions" section, and state the the DOT will be avoided and the claim will be paid as a general unsecured claim.  Obviously, my clients are not happy with that portion of the Plan, and they are looking for someone to help them through this process.  

Any referrals would be appreciated and passed on to the clients. 

Thank you all, 



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