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Valley - 13: can I file a MOMOD to recapture
It depends on the reason for the past-due payments and the impact on unsecured creditors. If the facts don't support a suspension ofplan payments for the amount necessary to catch-up with payments to the lender, then theremaining plan payments willlikely need to increase to preventa detriment to the unsecured class. Ifthe unsecured class isn't negatively impacted by higher plan payments and the lender agrees, then it isn't likely tobe a problem with the trustee and the court.Peter M. Lively, J.D., M.B.A.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Monday, September 21, 2015 12:53 PM, "Holly Roark hollyroark22@gmail.com [cdcbaa]" wrote:
Debtor can't do a 6 month catch up, which is what lenders typically want, but can increase plan payment to spread it out over the rest of the plan. Is this an option in the valley?
No relief from stay has been filed yet, but it's coming.
Holly RoarkCertified Bankruptcy Specialist*
and Sports Lawyer
holly@roarklawoffices.com**primary email address**www.roarklawoffices.comCentral District of California & District of Idaho - Consumer Bankruptcy Attorney1875 Century Park East, Suite 600 Los Angeles, CA 90067T (310) 553-2600; F (310) 553-2601*By State Bar of California Board of LegalSpecialization
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