Chapter 13 Plan
Presented by Kelly M. Barnhart
Covering the essentials of a chapter 13 consumer debtor plan: determining the debtor’s disposable income, restructuring the debtor’s debt, creditor priority, plan confirmation and plan modification.
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Chapter 13 Plan
Covers the essentials of a chapter 13 consumer debtor plan: determining the debtor’s disposable income, restructuring the debtor’s debt, creditor priority, plan confirmation and plan modification. This session highlights the reasons it might be better for clients to be put into chapter 13 vs. chapter 7, even though they qualify for chapter 7; how disposable income is calculated (and what is excluded from that calculation); disclosing all sources of income and evaluating the reasonableness of various expenses; filing motions to modify the plan; setting up conduit payments with the trustee; giving your client “breathing room” when they first set up their payments; creativity in structuring the plan; evaluating whether clients can surrender any of their property; filing lien-strip motions; restructuring judgment liens; preventing foreclosure; loan modification vs. cure and restatement; the importance of attending the § 341 meetings, including getting to know the trustee and preparing your clients for the meeting; treatment of student loans and options; prioritization of creditors; properly serving the plan on all creditors and giving them the required notice; dealing with creditor objections; how to modify a confirmed plan; and the importance of communicating with the client throughout the life of the plan.
Duration:
42 minutes 35 seconds
Bio :
Kelly M. Barnhart is a chapter 12 and 13 trustee for the Newport News and Norfolk, Va., Divisions for the Eastern District of Virgnia. She previously was an attorney with Roussos & Barnhardt, P.L.C. in Norfolk, Va., having joined the firm in November 2008. She focused her practice on bankruptcy and debt-restructuring, and mainly represented small businesses and their owners, as well as select creditors and trustees in chapter 7, 11 and 13 cases. She also is counsel for R. Clinton Stackhouse, Jr., the standing chapter 12 and 13 trustee for the Norfolk and Newport News Divisions of the Eastern District of Virginia. Ms. Barnhart is a former co-chair of the Board of Governors of the Bankruptcy Section of the Virginia State Bar, as well as the Bankruptcy Section of the Virginia Bar Association. In addition, she is a past member of the Bankruptcy Bar Liaison Committee for the Norfolk and Newport News Divisions of the Eastern District of Virginia. Ms. Barnhart is admitted to practice in the U.S. Bankruptcy Courts for the Eastern and Western Districts of Virginia, the U.S. District Courts for the Eastern and Western Districts of Virginia, and in all courts in the Commonwealth of Virginia. She has been selected as a “Rising Star” and a Super Lawyer, and she was listed as a member of Virginia’s “Legal Elite” (Bankruptcy/Creditors’ Rights) for 2015 and 2016. Ms. Barnhart received her B.A. in history and political science in 1998 from Randolph-Macon Woman’s College and her J.D. in 2002 from the University of Mississippi School of Law; she spent her last year of law school as a visiting student at the University of Notre Dame School of Law.
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