Law360, New York (May 23, 2016, 1:31 PM EDT) -- Phoebe S. Winder
Ryan M. Tosi
David A. Mawhinney Come December, the requirements surrounding notices of payment change (PCNs) for certain mortgage loans in bankruptcy will change. The Supreme Court, on April 28, 2016, adopted various proposed amendments to the Federal Rules of Bankruptcy Procedure, including amendments to the language of Rule 3002.1 aimed at clarifying when a secured creditor must file a payment change notice in a Chapter 13 bankruptcy. Amended Rule 3002.1 will require secured creditors to file PCNs on all claims secured by the Chapter 13 debtor's primary residence for which the debtor or Chapter 13 trustee is...
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