The "910 Vehicle"

[SinkingFast]

http://www.georgiabankruptcyblog.com...red-claim.htmlhttp://www.georgiabankruptcyblog.com...n-of-debt.html

[keepmine]

Wow what a mess this law has become. Apparently the ND of GA is at odds with other districts where this has been decided. Truely a district by district thing.
I'd imagine a lot of these issues will eventually wind up at the Supreme Court.

[SinkingFast]

Evidently, different Courts are interpreting the Law different ways.

The NACBA is taking on the issue of the "hanging paragraph".

http://www.nacba.com/

Surrender In Full Satisfaction?

NACBA has filed an amicus brief in In re White (WDNC) which argues that 1) 910 creditors do not have "allowed secured claims" entitled to treatment under 1325(a)(5), and 2) if those creditors do have "allowed secured claims" in the full amount of the debt, then 1325(a)(5)(C) permits debtors to surrender in full satisfaction of that debt.

[daisey]

It seems all the courts do things a lil different according to their interpretation of the new law. Its a shamed we have such unclear as it seems to affect us all differently vs us all being treated equal.

[bige1030]

I know...wasn't that the whole point of having uniform bankruptcy laws throughout the country?

[lrprn]

I know...wasn't that the whole point of having uniform bankruptcy laws throughout the country?

As long as bankruptcy law has been interpreted by the courts, there have been differences between districts. This is nothing new.

However, BAPCPA, in its zeal to try to remove the ability of local district judges to make decisions about bk cases on an individual basis, has created a real quagmire. We are just seeing the tip of the iceberg of case law trying to sort out the many 'black holes' in this bad law. BAPCPA is a perfect example of what happens when the very people who will benefit from a law are allowed to write it themselves without any outside input, and when sound advice about the badness of a law from bankruptcy experts and stakeholders around the country is ignored and our Congress passes it anyway.