New Chapter 13 Plan Forms and Bankruptcy Rules Take Effect December 1, 2017

Barring an unexpected intervention from Congress, on December 1, 2017, there will be new Chapter 13 bankruptcy plan forms, as well as related new federal bankruptcy rules. In this article, we discuss the new plan forms and the new rules of note to lenders. We also discuss a recent court opinion that impacts lenders.

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Dealing with the Post-Discharge Debtor

A borrower or personal guarantor who has been discharged in a bankruptcy case sometimes wants to extend a loan or to receive forbearance from the bank. Otherwise, for example, the debtor might face losing property to foreclosure. The bank might also prefer to extend or forbear on the loan. This scenario puts the bank at risk of violating the debtor's bankruptcy discharge, which can have serious consequences.

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