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Purpose of C13 to Liquidate. Bad Faith Filing?
Stephen,
Don't worry about bad faith. This scenario is typical in a Chapter 13.
However, you do need to worry that the stay is only good for 30 days, so you will have to get a motion filed right away to extend the stay. There is a form that includes professions of good faith, but no place to attach case law. No one will oppose the motion, typically.
Steve Lever
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No bad faith. How can it be bad faith when you are merely providing for an
orderly liquidation of the estate.
I just did this. You can even see my handy work on the motion to sell the
real estate. They also had a prior Chap 13 dismiss a few months before this
filing, and a Chapter 7 about 18 months before this filing.
The key is to communicate with the Chap 13 trustee. They will raid the
escrow for the proceeds to pay the Chapter 13 in full, but that is the goal
anyway.
2:18-bk-17057-NB
Re: Cheves.
I hope this helps.
Desiree Causey, Esq.
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PC has $20k unsecured debt. She has very little income. There is a looming
foreclosure scheduled lender will not postpone. She has significant equity
but insufficient time to market and sell the property.
My thought was to put her in a C13 to give her sufficient time to market and
sell the property and benefit from the automatic stay during this period
(ideally without making a mortgage payment in the interim she doesnt have
the income).
Ive heard of a liquidating Chapter 13 but have never done one.
Also, this would be her second Chapter 13 in less than a year. (First one
she attempted to keep the property and repay arrears but case was dismissed
prior to confirmation.)
If you can point me to a case where youve done this or any case law in
support of this not being a bad faith filing it would be appreciated.
Thanks,
Stephen
N. Stephen Vokshori, Esq.
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