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means test amount when no mortgage payment
Some believe that a charged off debt (if a 1099 has been issued) is no
longer collectable. Hence no payments are required or due.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Mark J. Markus
Sent: Tuesday, May 17, 2011 1:26 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Re: means test amount when no mortgage payment
required
OK...I'm going to revise my question a bit and add some facts.
It turns out that the credit union that holds the Notes has "charged off"
the debt, but is not pursuing foreclosure. This is a military credit union,
so maybe they're trying to help out the former enlisteds...In any event, if
the debtor filed a Chapter 13 (which is a possibility to do a LAM motion),
how would we determine the required postpetition mortgage payments to be
made? In other words, will the Trustee accept whatever the debtor and
creditor agree to as far as staying "postpetition current"? Or must they
pay the note rate unless is officially modified?
*************************
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)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at
The post was migrated from Yahoo.