Note Investing No Win Situations

[Chris Seveney]

Wanted to share a recent no win situation. Have a borrower in BK and we filed post petition fees for proof of claim and a plan objection (since they originally did not include property in BK). Now the defense counsel has requested a reduction in the fees we are charging or they will object to the plan. If they object it will cost me $500 to file against the objection or just reduce it by $500. 

Either way we lose. This has also been a loan in BK for over a year without a plan approval.