IMPLEMENTATION OF CHANGES TO BANKRUPTCY RULES 3001(c) and 3002.1 WEBINAR till 12/9/11

Take Notice of This Change: Supreme Court Adopts Recommended Amendments to Bankruptcy Notice of Payment Change Rule. Accordingly, like the existing rule 3002.1, amended Rule 3002.1 sets a floor, and not a ceiling, on a secured creditor’s obligation to notice payment changes in Chapter 13 bankruptcies. K&L Gates LLP can assist mortgage servicers and other secured creditors in navigating the pcn filing requirements for each district.

(a) In General. This rule applies in a chapter 13 case to claims (1) that are secured by a security interest in the debtor’s principal residence, and (2) for which the plan provides that either the trustee or the debtor will make contractual installment payments.

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A proof of claim shall include those documents required by F.R.B.P. 3001(c) and (d); and an itemized summary of the account showing, as of the date of the commencement of the debtor’s bankruptcy case , the unpaid principal balance, all accrued interest, forced-placed insurance, late charges, and other charges; the rate of contract or other interest.

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Amendments to Federal Rules of Bankruptcy Procedure 1004.2, 2003, 2019, 3001, 4004 and 6003, New Federal Rule of Bankruptcy Procedure 3002.1 and Changes to Official Bankruptcy Forms 1, 9A – 9I, 10 and 25a effective december 1, 2011 Federal Rules of Bankruptcy Procedure Bankruptcy Rule 1004.2 (republication of a new rule requiring entity.

New bankruptcy rule 3002.1 Events . New Bankruptcy Rule 3002.1, effective December 1, 2011, provides a process for a Chapter 13 debtor to cure a default and maintain payments on a home mortgage during the plan. It applies to claims that are (1) secured by a security interest in the debtor’s principal residence; and (2)

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IMPLEMENTATION OF CHANGES TO BANKRUPTCY RULES 3001(c) and 3002.1 WEBINAR till 12/9/11 A recent case from the U.S. Bankruptcy Court for the District of Vermont handed down what may be the first instance of punitive sanctions under federal bankruptcy rule of Procedure 3002.1.

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