Virginia Bankruptcy Alternatives - Credit Cards
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Recent Notable Opinions from Virginia Bankruptcy Courts
In re Meloy, Case No. 98-31268-T before the Virginia Bankruptcy Court for the Eastern District, Richmond
Division, decided August 14th, 2000. The debtors originally filed a petition under Chapter 11. During
reorganization, the debtors reaffirmed a debt owed to the defendant bank. Thereafter, the debtors failed to make
timely payments as required by the reaffirmation agreement. The bank foreclosed upon RE securing the note and
sought reimbursement for the deficiency balance. In response to the bank's attempt to collect the deficiency
balance, the debtors then converted their case to Chapter 7 before the Virginia Bankruptcy Court.. All
objections in connection with the Chapter 7 case were resolved and debtors received a discharge. Issue before
the Virginia Bankruptcy court: Is the bank entitled to recover the deficiency balance following discharge? HELD:
in this case, yes, the Virginia Bankruptcy court determined the bank may recover because the reaffirmation
agreement was not specifically rescinded in the time allowed by statute. 11 USC 524 provides, in part, "(c) An
agreement between a holder of a claim and the debtor, the consideration for which, in whole or in part, is based
on a debt that is dischargeable in a case under this title is enforceable only to any extent enforceable under
applicable nonbankruptcy law, whether or not discharge of such debt is waived, only if . . . (4) the debtor has
not rescinded such [reaffirmation] agreement at any time prior to discharge or within sixty days after such
agreement is filed with the court, whichever occurs later, by giving notice of rescission to the holder of such
claim." In this case, the Virginia Bankruptcy court determined the debtor's failure to provide proof of
notice of recession excluded the debt from the discharge injunction.
Recent Notable Opinions of the Supreme Court of The United States:
Kontrick v. Ryan, No. 02-819 (2004), Argued November 3, 2003, Decided January 14, 2004, CERTIORARI TO THE
UNITED STATES COURT OF APPEALS FOR THE SEVENTH CIRCUIT. A creditor in Chapter 7 liquidation proceedings has "60 days after the first date set for the meeting of
creditors" to file a complaint objecting to the debtor's discharge. Fed. Rule Bankruptcy Proc. 4004(a). The bankruptcy
court may extend that period "for cause" on motion "filed before the time has expired." Fed. Rule
Bankruptcy Proc.
4004(b). Reinforcing Rule 4004(b)'s restriction on extension of the Rule 4004(a) deadline, Rule 9006(b)(3) allows
enlargement of "the time for taking action" under Rule 4004(a) "only to the extent and under the conditions stated
in that rule," i.e., only as permitted by Rule 4004(b). Held: a debtor forfeits the right to rely on Rule 4004 if the debtor does not raise the Rule's time
limitation before the court considers a creditor's objection to discharge. Only Congress
may determine a lower federal court's subject matter jurisdiction. U.S. Const., Art. III, Sec. 1. The Code
establishes objections to discharges as core proceedings within the courts' jurisdiction. 28 U.S.C. Sec. 157(b)(2)(J). Congress did not
include time constraints within the Code. As Bankruptcy Rule 9030 states, the
Bankruptcy Rules shall not be construed to extend or limit the jurisdiction of the courts. The filing deadlines
prescribed in Rules 4004 and 9006(b)(3) are claim-processing rules that do not determine subject matter
jurisdiction.
The resources we chose to list pertain in some way to filing Virginia Bankruptcy, whether laws, discharge,
reorganization or other topics . Vast areas of law apply to Virginia Bankruptcy case proceedings and are enforced
by the courts within each case. As new Virginia Bankruptcy laws are enacted each year, the scope of this website
continues to grow.
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