News & Analysis as of

Consumer Bankruptcy › Mortgages › Debt Collection

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 -
Troutman Pepper

Consumer Financial Services 2023 Year in Review and A Look Ahead

Troutman Pepper on

We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more

Spilman Thomas & Battle, PLLC

COVID-19 WATCH LIST – Senators Warren and Brown Propose Pausing All Debt Payments

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Sen. Elizabeth Warren (D-Mass.) and Sen. Sherrod Brown (D-Ohio) have released a proposal calling on Congress to provide additional protections for consumers during the COVID-19 pandemic. Their proposal notes that an...more

Carlton Fields

Should I Stay or Should I Go? Bankruptcy Preemption May Bar FDCPA and FCCPA Claims Either Way

Carlton Fields on

After receiving a bankruptcy discharge, a borrower whose home is pending foreclosure has two options: stay in the home and, perhaps, make voluntary payments on the mortgage, or leave the home and start fresh. When a debt...more

Smith Debnam Narron Drake Saintsing & Myers,...

Eleventh Circuit Refuses to Impose a ‘Least Sophisticated Consumer’ Standard to Discharge Violations

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The Eleventh Circuit recently affirmed a Florida bankruptcy court’s denial of plaintiff’s motion for sanctions. In doing so, the Court rejected the consumer’s attempt to import the FDCPA’s “least sophisticated consumer”...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 4, 2019

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Real Property Update - Foreclosure / Bankruptcy / Surrender: borrower cannot challenge judgment of foreclosure entered upon judicial notice of his statement of intention to surrender the property and order of discharge...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending March 8, 2019

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Real Property Update - Lis Pendens: trial court erred by not discharging lis pendens concerning real property because defendant did not grant an interest in the property, and plaintiff's claims did not allege requisite fair...more

Smith Debnam Narron Drake Saintsing & Myers,...

Bankruptcy Disclaimer Did Not Violate FDCPA

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A district court in Michigan recently dismissed an FDCPA action, holding that a letter which included a bankruptcy disclaimer was for informational purposes only and did not violate the FDCPA. Tyler v. Fabrizio & Brook,...more

Bradley Arant Boult Cummings LLP

Part I: Navigating the Maze of Servicing Discharged Debt

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Mortgage servicers are plagued by their nebulous relationships with the borrowers who discharge their personal liability in bankruptcy. Issues arise when the borrower whose debt has been discharged continues to engage with...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending October 6 & 13, 2017

Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE - Ad Valorem Taxes: land lease holders are considered equitable owners of land for tax purposes if land lease renews automatically and is perpetual; owners of condominium...more

Ballard Spahr LLP

Sixth Circuit: Firm's Post-Foreclosure Conduct Does Not Violate FDCPA

Ballard Spahr LLP on

Recently, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of a lawsuit brought against a foreclosure firm—Reimer, Arnovitz, Chernek & Jeffrey (the Reimer firm)—under the Fair Debt Collection Practices...more

Balch & Bingham LLP

Eleventh Circuit Declines to Expand Reach of “Least Sophisticated Consumer” Standard In the Context of Sending Periodic Mortgage...

Balch & Bingham LLP on

The Eleventh Circuit recently clarified that sending periodic mortgage statements following a debtor’s bankruptcy discharge is not misleading to the “least sophisticated consumer.” In Helman v. Bank of America, 15-13672, 2017...more

Burr & Forman

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

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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

Carlton Fields

Mortgage Servicer Defeats Class Certification Over Collection Practices Allegedly Targeting Discharged Mortgage Debts

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The Middle District of Florida recently denied a plaintiff’s motion for class certification concerning claims that a collection agency illegally and intentionally sent collection correspondence to mortgagees whose debts...more

Burr & Forman

Allegedly Time-Barred Foreclosures Do Not Form Basis for FDCPA/FCCPA Lawsuits Outside Bankruptcy Context

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In an order issued yesterday, Judge Dalton of the Middle District of Florida held that in a non-bankruptcy context, allegations that collection of a mortgage debt is barred by the statute of limitations do not form a...more

Morrison & Foerster LLP

Financial Services Report, Summer 2015

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In This Issue: - Arbitration Report - Beltway Report - Bureau Report - Mobile & Emerging Payments Report - Mortgage & Fair Lending Report - Operations Report - Preemption Report -...more

Burr & Forman

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

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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

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