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...