Directions
Danny Debtor files for bankruptcy on January 1, 2013. The deadline for proof of claim is April 1, 2013. Danny’s assets are as follows: a house, valued at $100,000 (subject to mortgage), a car, valued at $10,000 (subject to auto loan), an RV, valued at $15,000 (subject to auto loan), checking and savings accounts with a total value of $5,000, and personal items with a total sale value of $5,000.
Prepare a document in which you identify and order the following claims in order of distribution.
* Home mortgage, in the amount of $80,000, filed 2/1/13
* Auto loan, secured by personal vehicle, in the amount of $12,000, filed 2/1/13
*Credit card, filed 2/1/13
*Personal loan, filed 4/2/13
*Auto loan, secured by RV, in the amount of $15,000, filed 4/2/13
*Child support obligation
*Tax lien
*Trustee’s fees
*Postpetition interest
This assignment should be in 12-point, Times New Roman or Arial Font, double-spaced and with 1” margins.
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