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High Court Adopts Forward-Looking Method Of Calculating Disposable Income

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court in an 8-1 decision June 7 affirmed an appellate court's ruling and held that when a bankruptcy court calculates a debtor's projected disposable income, the court may account for changes in the debtor's income or expenses that are known...

U.S. Supreme Court Cites To Collier On Bankruptcy® In Hamilton v. Lanning

WASHINGTON, D.C. -- The U.S. Supreme Court cites to Collier on Bankruptcy in Hamilton v. Lanning . In this Chapter 13 consumer bankruptcy case, Justice Alito cited Collier multiple times regarding the discretion courts have to account for changes in the debtor's income: ". . . Prior to BAPCPA...

U.S. High Court Hears Arguments On Vehicle Ownership Deduction Costs In Bankruptcy

WASHINGTON, D.C. -- A debtor who contends that the Bankruptcy Code provides for a deduction of vehicle ownership costs regardless of whether the debtor owns a vehicle and a creditor who objects to that deduction presented their arguments at the U.S. Supreme Court on Oct. 4, with both insisting that the...

U.S. High Court Rejects Case Involving Bifurcation Of Auto Loan Debt In Bankruptcy

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 3 declined to hear a case in which a lender argued that a debtor should not be permitted to bifurcate a secured creditor's claim regarding an automobile finance transaction in which the dealer extended financing to include an advance...