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Consumer Bankruptcy › Default

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 -
Mayer Brown

Seventh Circuit Agrees With Mayer Brown Amicus Brief That $3 Million Punitive Damages Award Was Unconstitutionally Excessive

Mayer Brown on

Last summer, my colleague C.J. Summers and I posted a report about Saccameno v. U.S. Bank National Association, a Seventh Circuit case in which we had filed an amicus brief on behalf of the Chamber of Commerce of the United...more

Ballard Spahr LLP

Bankruptcy Court Discharges Student Loan Debt

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On January 7, 2020, Chief United States Bankruptcy Judge Cecilia G. Morris of the United States Bankruptcy Court for the Southern District of New York issued a notable opinion in the case of Rosenberg v. N.Y. State Higher...more

Hudson Cook, LLP

Lien Filing Error Renders Creditor's Claim Unsecured

Hudson Cook, LLP on

Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more

Mayer Brown

Mayer Brown Submits Amicus Brief For Chamber Of Commerce In Seventh Circuit Appeal Involving Proper Application Of Punitive...

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Although the Supreme Court identified three guideposts for evaluating whether a punitive award is unconstitutionally excessive 23 years ago in BMW v. Gore and refined those guideposts 16 years ago in State Farm v. Campbell,...more

Bradley Arant Boult Cummings LLP

Part IV: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on

Welcome to Part IV of our series on servicing discharged mortgage debt. This part will discuss modifying a borrower’s loan post-discharge. (If you missed Part I, Part II or Part III, go ahead and catch up.) Part III discussed...more

Rosenberg Martin Greenberg LLP

In re: Titus – Fraudulent Conveyance Law Defeats Exemption Rights

Rosenberg Martin Greenberg LLP on

Many states, including Maryland and Pennsylvania, recognize the common law form of ownership of property as “tenants by the entireties” for both real and personal property, including bank accounts. Under that form of...more

Epiq

Curing the headache of tracking and posting trustee payments on default loans

Epiq on

Today,loan servicers are faced with the headache of tracking and posting trustee payments to their loan portfolios. This is a lengthy process that can take a team of up to 10 people several hours on a weekly or monthly basis...more

BCLP

Awkward: Old Friend From Church Blocks Discharge of Student Loan Debt

BCLP on

Providing an exception to the axiom that no good deed goes unpunished (a wonderful phrase courtesy of Clare Booth Luce, author, Ambassador, speaker, and a model for our times even thirty years after her death), a Texas...more

Ballard Spahr LLP

U.S. District Court for the Southern District of Florida Narrows the Definition of Borrower Under RESPA

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In 2014, the Consumer Financial Protection Bureau (CFPB) promulgated a number of mortgage servicing rules, including rules governing loss mitigation procedures. ...more

Jones Day

From the Top In Brief - July/August 2017

Jones Day on

In Midland Funding, LLC v. Johnson, No. 16-348, 2017 BL 161314 (U.S. May 15, 2017), the U.S. Supreme Court ruled that a credit collection agency does not violate the Fair Debt Collection Practices Act ("FDCPA") when it files...more

BCLP

Handy List of Basic Issues to Consider for the Transactional Workout

BCLP on

While significant energy here at the Bankruptcy Cave is devoted to substantive bankruptcy matters, not all aspects of a general insolvency practice are always fun and litigation. Oftentimes insolvency lawyers add the most...more

Pullman & Comley, LLC

Bankruptcy Beat: Default Judgment Is Not Automatic Following Entry Of Default

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On May 12, 2016, the Honorable Julie A. Manning issued a decision in an adversary proceeding entitled Law Office of W. Martyn Philpot, Jr., LLC v. Day, which addressed two issues. The first issue was whether the plaintiff was...more

Baker Donelson

New Case Poses Threat to Mortgage Servicers in Bankruptcies

Baker Donelson on

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

Pullman & Comley, LLC

Appellate Court Notes

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Appellate Court Advance Release Opinions: AC36390 - Folsom v. Zoning Board of Appeals - Trial court properly granted a motion to strike a direct lawsuit by a disgruntled neighbor against the Town Zoning Enforcement...more

Blank Rome LLP

New Jersey Bankruptcy Court Holds That Mortgage Was No Longer Enforceable and Borrower Was Entitled to a “Free House”

Blank Rome LLP on

Action Item: In light of this decision, lenders should ensure that foreclosures in New Jersey are filed within six years of the date of default. Failure to file a foreclosure within six years may cause the action to be barred...more

Troutman Pepper

Mortgage Enforcement: Dot Those “i”s and Cross Those “t”s – Or Else

Troutman Pepper on

A chapter 13 debtor objected to the portion of a mortgagee’s claim consisting of expenses related to foreclosure of its mortgage. She argued that since the mortgagee failed to comply with notice requirements under the...more

Estlund Law, P.A.

More on INTERPOL, the UAE, and Bounced Checks

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A reader recently sent in this comment, which has been modified to protect the reader's privacy...more

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