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February 24, 2010

Effects of Confirmation

Filed under: Uncategorized — admin @ 10:11 am

Woltman v. PNC Bank (In re Woltman), No. l;07-bk-01647MDF, 2008 WL 5157477 (Bankr. M.D. Pa. Nov. 18, 2008) (France) (Binding effect of confirmation prevents debtors from avoiding judgment lien when confirmed plan provided that lien would be paid in Ml; failure to adequately investigate lien prior to confirmation does not overcome binding effect.).

Jones v. Regional Acceptance Corp. (In re Jones), No. 08-40027-JJR, 2008 WL 4830538 (Bankr. N.D. Ala. Nov. 4, 2008) (Robinson) (Debtors are bound by confirmed plan that provided for payment in full of car lender’s secured claim without reserving TILA action.).

Boday v. Franklin Credit Mgmt. Corp. (In re Boday), 397 B.R. 846, 851 (Bankr. N.D. Ohio 2008) (Speer) (Binding effect of confirmation required mortgage creditor to split claim under ยง 1322(b)(5) into prepetition arrearages and ongoing mortgage payments. Confirmed plan “provided that the Defendant was required to adjust its record so as to indicate that all arrearages had been paid, and that the amount due should correspond to the Parties’ original amortization schedule.” Creditor is ordered to adjust its records to reflect that prepetition arrearages had been paid and debtors have cured prepetition defaults.).

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