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Who is Cavalry SPV and Why are they Suing Me?

Cavalry SPV is a debt buyer who sues people here in Arizona. If you are in the stressful position of having been sued by Cavalry SPV your first thought was like “who in the world are these people?”. In fact, many people...more

3 Signs You Picked the Wrong Lawyer to Fight Midland Funding

When it comes to hiring a lawyer to fight your Midland Funding lawsuit it is normal that most people will interview more than one attorney before deciding who to go with. When I meet with clients they will often share with...more

Orrick's Financial Industry Week in Review - December 10, 2013

Council of EU Publishes UK Issues Paper on MLD4 - On November 24, the Council of the European Union published a note (dated November 8, 2013) from the Council Presidency to Council Delegations which includes a UK...more

Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s  [Video]

Dec. 5 (Bloomberg) -- Why the bankruptcy court in Delaware garnered almost five times more significant Chapter 11 reorganizations this year than New York is the first topic of discussion on the new video with Bloomberg Law's...more

BAPCPA Backfires: Unsecured Creditor’s Returns Decrease in Post-BAPCPA Landscape

A new study published by the American Bankruptcy Institute has found that the aggregate effect of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), which was passed in part to improve creditor...more

Mortgage Debt Lesson: Don't Pursue Collection Of A Discharged Mortgage

Creditors should double check the bankruptcy status of a debtor/borrower before pursuing collection. As a pending case illustrates, pursuing collection of an initially reaffirmed, but later discharged mortgage could be a...more

Bill on Bankruptcy: Listening in the Dark at the NCBJ  [Video]

Nov. 7 (Bloomberg) -- Bloomberg Law's Lee Pacchia asks Bloomberg News bankruptcy columnist Bill Rochelle how he responded when the lights went out during his luncheon keynote speech at the annual convention of the National...more

CFPB Refines Mortgage Rules to Resolve Conflicts and Inconsistencies

On October 15, 2013, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule and bulletin refining and making technical changes to certain provisions of its January 2013 mortgage rules. The interim rule...more

When the FDCPA and the Bankruptcy Code Conflict: Which Controls?

As most lenders and banking litigators understand, courts construe the language of the Fair Debt Collection Protection Act (FDCPA) very broadly. As we have discussed in previous posts, an initial communication to collect a...more

Infobytes Special Alert: CFPB Issues Mortgage Servicing Rule Amendments And Guidance Addressing Conflicts With Bankruptcy And Debt...

On October 15, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued an interim final rule amending certain provisions of its mortgage servicing rules and making technical changes to other January 2013 mortgage rules...more

Third Circuit Holds FDPCA Can Apply in Bankruptcy Proceedings

The United States Circuit Court for the Third Circuit upheld a lower court’s decision that the Bankruptcy Code precluded a borrowers’ claims under the Fair Debt Collection Practices Act. After filing for bankruptcy,...more

Dean: Law Schools Use Merit Scholarships To Boost Rankings  [Video]

Oct. 10 ( Bloomberg Law) -- Law schools need to find ways to cut the expense of merit scholarships, which they "use to buy students . . . with high LSATs" to improve the schools' US News rankings, Brooklyn Law School Dean and...more

FHA Fresh Start Program Now Available 1 Year After Bankruptcy

New FHA Fresh Start Program provides mortgage financing in as little as 12-Months after a bankruptcy, short sale or foreclosure. Restrictions apply. Please contact a qualified mortgage broker for details. Stop struggling...more

Know Your Rights under the Fair Debt Collection Practices Act

Few things are more stressful than owing money and having more debt than we can afford to pay back. Unfortunately, debt collectors know this and can (and will!) often try to use it to their advantage. If the debt is...more

Dealing with Debt Collectors

A sure sign that you are in financial trouble is harassment by collection agencies. Whether you receive daily phone calls or get letters demanding payment in the mail, the stress can cause you to lose sleep, create strife...more

Why it is So Important to Check Your Credit Report Annually — Even After Bankruptcy

Did you know that according to the Federal Trade Commission (FTC), five percent of consumers had errors on their credit reports? That’s five out of every hundred consumers in the U.S. — meaning that as many as 10 million...more

Bankruptcy Law and Student Loans: Not a Working Relationship

Under the current system, it is all but impossible to get student loans wiped out through bankruptcy, unlike most other forms of unsecured debt such as credit card and medical bills....more

Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds [Video]

Sept. 5 (Bloomberg) -- The hedge funds battling for control of LightSquared Inc., the developer of a satellite-based wireless communications system, is the first item on the bankruptcy video with Bloomberg Law's Lee Pacchia...more

By The Book - August 2013: Collection of Student Loans: Update on Interpretations of Fair Debt Collection Practices Act Violation

The Fair Debt Collection Practices Act (“FDCPA”) 15 U.S.C. §§ 1692-1692p (2012), passed in 1977 and effective in 1978, has undergone a series of amendments over the years, but maintains one of its primary purposes, which is...more

Bill on Bankruptcy: Appeals Court Changes the Law on Fraud [Video]

Aug. 29 (Bloomberg) -- The U.S. Court of Appeals in Chicago may be out on a limb by itself, or an opinion this week may signal change in attitude toward lenders who discover a customer's fraud and do nothing, as Bloomberg...more

Service Provider Challenges CFPB Authority

On July 22, a Connecticut bankruptcy attorney and a firm with whom the attorney contracts for legal support services filed a lawsuit charging the CFPB with “grossly overreaching its authority” in requesting “sensitive and...more

Do I need bankruptcy to protect my money and other stuff from creditors?

In California, since you get exemptions to protect some of your money and property from creditors if they sue you, do you need to file bankruptcy to protect your money and property?...more

Bill on Bankruptcy: Make-Whole Premiums, Lehman, ResCap  [Video]

July 17 (Bloomberg Law) -- Bankruptcy Judge Sarah A. Hall in Oklahoma City is this week's "Judge of the Week" on the new video with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. In the...more

Virginia Financial Institutions - June 2013

In this issue: - CFPB Amends Ability-to-Repay Rule to Ease Standards for Small Creditors - Assistant Managers Fail to Break the Piggy Bank...For Now - Federal Agencies Make Changes to Regulation...more

Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay  [Video]

June 19 (Bloomberg) -- Lawyers may object to disclosing how much they actually collect per hour from non-bankrupt clients, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on...more

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