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Consumer Bankruptcy Creditors

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -

Recent Bankruptcy Decision from the Western District of Wisconsin Discusses Negative Equity, Car Loans, and the Chapter 13 Cram...

by Ruder Ware on

A quick introduction for those of you who are not bankruptcy nerds. For certain types of collateral, Chapter 13 allows a Debtor to reduce a secured creditor’s claim down to the value of the collateral. This is called “cram...more

Restructuring and Insolvency Bulletin Issue 1 - 2017 - United Kingdom: New Insolvency Rules streamline communication with...

by Dechert LLP on

The existing insolvency rules in the UK have been recast with the aim to "modernize and consolidate" the procedural framework for insolvency processes in the UK and promote efficiency. The Insolvency (England and Wales) Rules...more

Creditor Protection of Retirement Plan Assets

Assets in qualified retirement plans and individual accounts (IRAs) total more than $20 trillion and represent 34% of U.S. household assets.1 Clients and their advisers are rightfully concerned about insulating those assets...more

11th Circuit Clarifies FDCPA/FCCPA Issues Re Periodic Mortgage Statements After Bankruptcy

by Burr & Forman on

In Helman v. Bank of America, 15-13672, 2017 WL 1350728 (11th Cir. April 12, 2017) the Eleventh Circuit Court of Appeal clarified important issues regarding the use of periodic mortgage statements after a bankruptcy...more

California Supreme Court Clarifies Creditor Access to Spendthrift Trusts

by Downey Brand LLP on

On March 23, 2017, at the request of a certified question from the U.S. Ninth Circuit Court of Appeals, the California Supreme Court answered the age-old question – “what gives”? That is to say, what gives – the...more

Court Rejects Lender’s Objection to Payment of Debtor’s Counsel’s Fees and Expenses from Pre-Petition Retainer

by Burr & Forman on

In a decision rendered on December 30, 2016, the bankruptcy court for the Southern District of Florida (the “Court”) addressed the debtor’s counsel’s interim application for an award of fees and expenses for services rendered...more

It’s Not Just Actual Fraud: Intent to Hinder, Delay, or Defraud Can Be Present Even with the Best of Intentions

by Robins Kaplan LLP on

The Bankruptcy Code contemplates several penalties for transfers made by a debtor with an intent to “hinder, delay, or defraud” creditors. Although most situations focus on an “actual intent to defraud,” the Tenth Circuit...more

Debtors Who Misuse Collateral Can Lose the Benefit of Discharging their Debt in Bankruptcy

by Burr & Forman on

On November 21, 2016, in a case entitled In re Monson, the Eleventh Circuit Court of Appeals affirmed the Bankruptcy Court’s decision, which held that a debtor’s conduct constituted a willful and malicious injury to a...more

Bankruptcy When You Are on Disability

by John Skiba on

The Social Security Administration states that there are currently nearly 9 million people receiving social security disability benefits with the average monthly being a little over $1,200 per month. I meet weekly with...more

Does My Spouse Have to File Bankruptcy With Me in Arizona?

by John Skiba on

A common question I get from married couples who are facing debt problems is whether both need to file for bankruptcy or if it is permissible for one spouse to file the bankruptcy. Many couples would like to try and save...more

Eleventh Circuit Holds that a Debtor who Elects to “Surrender” Real Property Cannot Oppose the Lender’s Foreclosure Case

In In re Failla, 838 F.3d 1170 (11th Cir. Oct. 4, 2016), the Eleventh Circuit resolved a split among Florida bankruptcy judges by ruling that a debtor who elects to "surrender" real property during its bankruptcy case cannot...more

The Ultimate Arizona Bankruptcy Guide – pt. 7 – The Path to a Chapter 7 Discharge

by John Skiba on

In most chapter 7 bankruptcy cases the activity in the case is front loaded. What I mean by that is prior to filing the bankruptcy case there is a lot of activity around pulling all of the necessary information and...more

Eighth Circuit Opinions Highlight Need to Apply Appellate Lens at Trial Court

by Robins Kaplan LLP on

We often quip that the best way to establish a winning record as an appellate lawyer is to represent the party that won below; that’s no joke. In nearly every appellate court— state or federal— appellants have an uphill...more

The Ultimate Arizona Bankruptcy Guide – Pt. 6 – The Meeting of Creditors

by John Skiba on

After your bankruptcy case is filed with the Arizona bankruptcy court the clerk of the bankruptcy court will send out written notification of your bankruptcy to all of your creditors that were provided in the bankruptcy...more

Bankruptcy Homeowners Cannot Surrender Residence in Bankruptcy and Later Fight Lender’s Foreclosure

by Foley & Lardner LLP on

In a rare win for mortgage lenders, the 11th Circuit (controlling law in Florida, Georgia, and Alabama) ruled today that an owner who agrees to “surrender” their residence in bankruptcy court under 11 U.S.C. Section...more

Bankruptcy Procedure in the Context of Turnover and Preference Law

by Best Best & Krieger LLP on

In the course of collections activities, a creditor can become singularly focused on aggressively pursuing enforcement of a debt by levying against the debtor’s property or by demanding and receiving payment from the debtor....more

How You Can Settle Your Debts Using Marketing Tactics

by John Skiba on

When it comes to dealing with debt there are really three options: (1) pay them in full, (2) settle the debt for an amount less than the full amount, or (3) file for bankruptcy. If you can’t pay your debts in full and...more

Can I Be Sued for Filing a Time-Barred Claim? Fourth Circuit Weighs In

by Poyner Spruill LLP on

Whether it’s a conscious decision or an inadvertent mistake, creditors sometimes try to recover on an old claim that is no longer enforceable by law. A debt collection lawsuit filed by a creditor can be dismissed if the...more

13 Pitfalls of Bankruptcy in Arizona

by John Skiba on

Bankruptcy is a powerful tool that can once and for all eliminate your debt problems. And while bankruptcy is a lot less painful than most imagine, there are certain pitfalls that can make the process a whole lot more...more

#ThrowbackThursday: Creditor’s Rights Report

by MoFo Reenforcement on

In September 2005, Morrison & Foerster published the client alert “Creditor’s Rights Report.” Summary: Bankruptcy reform is here. When the majority of the provisions from the “Bankruptcy Abuse Prevention and...more

Alternatives to Bankruptcy from Bankruptcy Law Specialist Christy Myatt

by Nexsen Pruet, PLLC on

The general notion behind receiverships is to preserve property pending the outcome of a case, or the foreclosure of real property or such other time as the Court deems a Receiver is not required....more

Objecting to the Dischargeability of Debt: How a Creditor May Protect its Debt in Bankruptcy

by Murtha Cullina on

Imagine that you are an unsecured lender who has learned that a borrower has filed for bankruptcy and has little to no assets available to pay creditors. Is there any way to prevent your debt from being extinguished? This...more

Take Notice of This Change: Supreme Court Adopts Recommended Amendments to Bankruptcy Notice of Payment Change Rule

by K&L Gates LLP on

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...more

An Opportunity for Creditors to Enforce Prospective Waivers of the Automatic Stay

by Buchalter on

A recent ruling of the Bankruptcy Court for the Central District of California endorsed a path toward enforceability of prospective waivers of the automatic stay in certain circumstances. In short, such a waiver approved in a...more

When One Spouse Files for Bankruptcy, But Not the Other

by Best Best & Krieger LLP on

When a Chapter 7, 11, or 13 case is filed, a new entity is created called the bankruptcy estate. A bankruptcy estate is comprised of all of the debtor’s non-exempt legal or equitable interests in property as of the time of...more

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