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Bankruptcy

: Bankruptcy Law Network

Trustee Holds Feher Proceeds Until Completion or Dismissal of Chapter 13

By Andy Miofsky, Illinois Bankruptcy Attorney

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When an insurance policy pays a damage claim for a totaled car that is involved to a chapter 13, the bankruptcy trustee is required to hold excess money over the amount of the lender’s secured claim according to In re Feher, Southern District of Illinois case Bankruptcy Number 95-30444, Adversary Number 96-3133.  Consequently, the money [...]

Full post as published by Bankruptcy Law Network on June 27, 2009 (boomark / email).

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