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Student Loans in CH. 13
Thanks. And I assume then that you had the student loan payment amount allowed as a reasonable expense in Schedule "J"? In this case I suspect that the general unsecureds will end up getting a much higher percentage than the student loan creditors will get (as a percentage); but the student loan creditors would be receiving a much higher dollar amount.
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Monday, September 13, 2004 5:03 PM
Subject: Re: [cdcbaa] Student Loans in CH. 13
I have confirmed a plan before TD which called for direct payments to a student loan. In that case, the distribution percentage to class 5 happened to exactly equal the percentage the student loan creditor was to receive during the life of the plan. Also, there were no priority creditors to be paid before the unsecureds and no secured creditors being paid through the plan to delay payments.
Therefore, I was able to effectively argue that there was no discrimination at all. My brief in support did go into an analysis of the case law on the subject. I believe that 1322, case law and the legislative history of 1322 supports "discrimination" by paying student loan creditors separately without it being unfair. Generally, the courts don't like to see: 1) 100% payment of student loan debt either through the plan or "outside" the plan unless all unsecured creditors are receiving 100%; or 2) a huge discrepancy (percentage-wise) between what the student loan creditor will receive and what class five creditors will receive.
Brian D. Wirsching
Law Offices of David A. Tilem
500 N. Brand Blvd., Suite 460
Glendale, CA 91203
Tel: 818-507-6000
Fax: 818-507-6800
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Monday, September 13, 2004 4:50 PM
Subject: [cdcbaa] Student Loans in CH. 13
Has anyone had success with separately classifying student loans in a Ch. 13 case? I know the norm is to just include them in the general unsecured class and they get paid whatever the other unsecureds get paid, then when the Ch. 13 is complete, the debtor is in default on the loans and owes all accrued interest and penalties.
I'm just wondering if there's any way to have the minimum monthly payment allowed as a budget item and paid outside the plan.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
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Thanks. And I assume then that you had
the student loan payment amount allowed as a reasonable expense in Schedule"J"? In this case I suspect that the general unsecureds will end up
getting a much higher percentage than the student loan creditors will get (as a
percentage); but the student loan creditors would be receiving a much higher
dollar amount.
----- Original Message -----
From:
Brian D. Wirsching
To: cdcbaa@yahoogroups.com
Sent: Monday, September 13, 2004 5:03
PM
Subject: Re: [cdcbaa] Student Loans in
CH. 13
I have confirmed a plan before TD which
called for direct payments to a student loan. In that case, the
distribution percentage to class 5 happened to exactly equal the percentage
the student loan creditor was to receive during the life of the plan.
Also, there were no priority creditors to be paid before the unsecureds and no
secured creditors being paid through the plan to delay payments.
Therefore, I was able to effectively argue that
there was no discrimination at all. My brief in support did go into an
analysis of the case law on the subject. I believe that 1322, case law
and the legislative history of 1322 supports "discrimination" by paying
student loan creditors separately without it being unfair. Generally,
the courts don't like to see: 1) 100% payment of student loan debt
either through the plan or "outside" the plan unless all unsecured
creditors are receiving 100%; or 2) a huge discrepancy (percentage-wise)
between what the student loan creditor will receive and what class five
creditors will receive.
Brian D. WirschingLaw Offices of David A.
Tilem500 N. Brand Blvd., Suite 460Glendale, CA 91203Tel:
818-507-6000Fax: 818-507-6800
----- Original Message -----
From:
Mark J. Markus
To: cdcbaa@yahoogroups.com
Sent: Monday, September 13, 2004 4:50
PM
Subject: [cdcbaa] Student Loans in CH.
13
Has anyone had success with separately classifying student loans in a Ch. 13 case? I know the norm is to just
include them in the general unsecured class and they get paid whatever the
other unsecureds get paid, then when the Ch. 13 is complete, the debtor is
in default on the loans and owes all accrued interest and penalties.
I'm just wondering if there's any way to have
the minimum monthly payment allowed as a budget item and paid outside the
plan.
***********************************************Mark J.
MarkusLaw Office of Mark J. Markus11684 Ventura Blvd. PMB
#403Studio City, CA 91604-2652(818)509-1173(818)509-1460
(fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.
I have confirmed a plan before TD which called for direct payments to a student loan. In that case, the distribution percentage to class 5 happened to exactly equal the percentage the student loan creditor was to receive during the life of the plan. Also, there were no priority creditors to be paid before the unsecureds and no secured creditors being paid through the plan to delay payments.
Therefore, I was able to effectively argue that there was no discrimination at all. My brief in support did go into an analysis of the case law on the subject. I believe that 1322, case law and the legislative history of 1322 supports "discrimination" by paying student loan creditors separately without it being unfair. Generally, the courts don't like to see: 1) 100% payment of student loan debt either through the plan or "outside" the plan unless all unsecured creditors are receiving 100%; or 2) a huge discrepancy (percentage-wise) between what the student loan creditor will receive and what class five creditors will receive.
Brian D. Wirsching
Law Offices of David A. Tilem
500 N. Brand Blvd., Suite 460
Glendale, CA 91203
Tel: 818-507-6000
Fax: 818-507-6800
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Monday, September 13, 2004 4:50 PM
Subject: [cdcbaa] Student Loans in CH. 13
Has anyone had success with separately classifying student loans in a Ch. 13 case? I know the norm is to just include them in the general unsecured class and they get paid whatever the other unsecureds get paid, then when the Ch. 13 is complete, the debtor is in default on the loans and owes all accrued interest and penalties.
I'm just wondering if there's any way to have the minimum monthly payment allowed as a budget item and paid outside the plan.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
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ADVERTISEMENT
Yahoo! Groups Links
a.. To visit your group on the web, go to:
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b.. To unsubscribe from this group, send an email to:
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c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
I have confirmed a plan before TD which called
for direct payments to a student loan. In that case, the distributionpercentage to class 5 happened to exactly equal the percentage the student loan
creditor was to receive during the life of the plan. Also, there were no
priority creditors to be paid before the unsecureds and no secured creditors
being paid through the plan to delay payments.
Therefore, I was able to effectively argue that
there was no discrimination at all. My brief in support did go into an
analysis of the case law on the subject. I believe that 1322, case law and
the legislative history of 1322 supports "discrimination" by paying
student loan creditors separately without it being unfair. Generally, the
courts don't like to see: 1) 100% payment of student loan debt either
through the plan or "outside" the plan unless all unsecured creditors are
receiving 100%; or 2) a huge discrepancy (percentage-wise) between what the
student loan creditor will receive and what class five creditors will
receive.
Brian D. WirschingLaw Offices of David A.
Tilem500 N. Brand Blvd., Suite 460Glendale, CA 91203Tel:
818-507-6000Fax: 818-507-6800
----- Original Message -----
From:
Mark J. Markus
To: cdcbaa@yahoogroups.com
Sent: Monday, September 13, 2004 4:50
PM
Subject: [cdcbaa] Student Loans in CH.
13
Has anyone had success with separately
classifying student loans in a Ch. 13 case? I know the norm is to just
include them in the general unsecured class and they get paid whatever the
other unsecureds get paid, then when the Ch. 13 is complete, the debtor is in
default on the loans and owes all accrued interest and penalties.
I'm just wondering if there's any way to have the
minimum monthly payment allowed as a budget item and paid outside the
plan.
***********************************************Mark J.
MarkusLaw Office of Mark J. Markus11684 Ventura Blvd. PMB
#403Studio City, CA 91604-2652(818)509-1173(818)509-1460
(fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.
Has anyone had success with separately classifying student loans in a Ch. 13 case? I know the norm is to just include them in the general unsecured class and they get paid whatever the other unsecureds get paid, then when the Ch. 13 is complete, the debtor is in default on the loans and owes all accrued interest and penalties.
I'm just wondering if there's any way to have the minimum monthly payment allowed as a budget item and paid outside the plan.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
Has anyone had success with separately classifying
student loans in a Ch. 13 case? I know the norm is to just include them in
the general unsecured class and they get paid whatever the other unsecureds get
paid, then when the Ch. 13 is complete, the debtor is in default on the loans
and owes all accrued interest and penalties.
I'm just wondering if there's any way to have the
minimum monthly payment allowed as a budget item and paid outside the
plan.
***********************************************Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173(818)509-1460 (fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.