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 -
News & Analysis as of

Bankruptcy When You Are on Disability

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?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Revisiting the Post-Bankruptcy Toolbox: Don’t Forget to Compare the Financials

For better or worse, lenders have become increasingly familiar with the strange dynamic that is the post-bankruptcy minefield created by their borrowers filing a bankruptcy petition. Immediately, lenders begin thinking about...more

How Long Is Too Long To Reopen A Bankruptcy Case?

In a per curiam opinion that is not precedential but of interest to lenders who take mortgages as security, the Court of Appeals for the Third Circuit decided that the Debtor’s effort to reopen her bankruptcy case was too...more

Sixth Circuit Files Win for Bankruptcy Debtors Harassed During Automatic Stay

Creditors of bankruptcy debtors beware: a recent opinion from the Sixth Circuit Court of Appeals makes clear that creditors cannot circumvent the ban on collection efforts following the petition for bankruptcy by trying to...more

Equitable Liens: No Mortgage Does Not Necessarily Mean No Lien

Marcum v. Marcum (In re Marcum), 508 B.R. 499 (Bankr. M.D. Fla. 2014) – A creditor made two prepetition loans to a chapter 13 debtor for payment of delinquent real estate taxes. The loans were supposed to be secured by...more

New Administrative Orders Amend Procedures for Creditors in Consumer Bankruptcy Cases Pending in the Middle District of Florida

Prior to September 1, 2015, procedures in consumer chapter 13 bankruptcy cases varied greatly across the divisions of the Middle District of Florida, creating vastly different workflows for creditors and attorneys with cases...more

Good News for Secured Creditors and Commercial Lessors in Chapter 13 Cases

A new administrative order was entered by Chief Judge Jennemann in the Middle District of Florida on August 10. The Middle District of Florida stretches from Jacksonville on the east coast, through Central Florida and down...more

Socially Aware - Volume 6, Issue 3 - July/August 2015

Welcome to the newest issue of Socially Aware, our Burton Award winning guide to the law and business of social media. In this edition, we present a “grand unifying theory” of today’s leading technologies and the legal...more

US Supreme Court Decision in Bank of America, N.A. v. Caulkett

In a 9-0 decision released on June 1, 2015, the US Supreme Court ruled, in Bank of America, N.A. v. Caulkett, 135 S. Ct. 1995 (2015), that a debtor in a Chapter 7 bankruptcy proceeding may not void a junior mortgage lien...more

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