Spotlight on Financial Services- Consumer bankruptcy
Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]
Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
A proof of claim is a written statement setting out a creditor's claim and asserting its right to receive a distribution from the bankruptcy estate. It must "conform substantially" to Official Bankruptcy Form B410 (Fed. R....more
Chapter 13 bankruptcy provides relief only to individuals with regular income. This Chapter is most frequently used by debtors who have sufficient disposable monthly income to make some payments over time to their creditors....more
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
The intersection of Chapter 13 bankruptcy and escrow accounts is complicated and confusing. Since 2011, various bankruptcy rule and form changes have occurred in an effort to eliminate perceived problems with Chapter 13...more
We previously provided you with some of the American Bankruptcy Institute’s Commission on Consumer Bankruptcy’s recommendations to improve the consumer bankruptcy system. As the commission noted, changes in bankruptcy law...more
In In re Dukes, No. 16-16513 (11th Cir. Dec. 6, 2018), the Eleventh Circuit held that a debtor’s mortgage obligation was not discharged, despite a proof of claim not being filed, because the mortgage was not provided for by...more
On December 11, 2017, in a case entitled In re Iliceto, the Eleventh Circuit Court of Appeals affirmed the district court’s decision, which held that Nationstar Mortgage, LLC (“Nationstar” or the “Creditor”) received notice...more
On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and affect creditors with secured claims, unsecured claims, and judgment liens...more
Bankruptcy Rule 3002 is getting an update, which goes into effect on December 1, 2017. Creditors in a Chapter 7 (liquidation), Chapter 12 (family farmer), and Chapter 13 (individual reorganization) bankruptcy need to take...more
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
The Supreme Court recently issued two rulings interpreting various sections of the Fair Debt Collection Practices Act (FDCPA) in favor of creditors and certain debt buyers. The FDCPA protects debtors from unfair collection...more
In a 5-3 decision written by Justice Stephen G. Breyer last week, the Supreme Court of the United States ruled that the Eleventh Circuit erred when it found that Midland Funding, one of the nation’s largest purchasers of...more
Filing a proof of claim in a debtor's Chapter 13 bankruptcy case on a debt that is "obviously time barred" does not violate the Fair Debt Collection Practices Act (FDCPA), the U.S. Supreme Court has ruled in a 5-3 decision....more
This week, the United States Supreme Court issued a key decision under the Fair Debt Collection Practices Act in a case litigated by Balch & Bingham lawyers, Jason Tompkins and Chase Espy. In Midland Funding, LLC v. Johnson,...more
The United States Supreme Court recently held in Midland Funding, LLC v. Johnson, 581 U.S. ___ (2017) that filing a proof of claim that is obviously time-barred in a Chapter 13 debtor’s bankruptcy case is not a violation of...more
On Monday, May 15, 2017, the Supreme Court put to rest a theory of liability under the Fair Debt Collections Practices Act (FDCPA or Act) that had a major impact not only upon the credit and collection industry, but...more
The United States Supreme Court issued a ruling Monday resolving the question of whether filing a proof of claim for a debt that is time-barred by the statute of limitations is a violation of the Fair Debt Collection...more
On May 15, 2017, a divided U.S. Supreme Court held in Midland Funding, LLC v. Johnson that a debt collector’s filing of a facially time-barred claim in Chapter 13 bankruptcy proceedings was not a violation of the Fair Debt...more
In Midland Funding, LLC v. Johnson, the U.S. Supreme Court held that a debt collector does not run afoul of the FDCPA by filing a proof of claim in bankruptcy on a stale debt. In its 5-3 decision, the Court sided with the...more
A Virginia bankruptcy court recently ruled that an objection to a proof of claim was not barred by the doctrine of res judicata when an order of confirmation was entered prior to the objection being filed. In re Haskins, No....more
We all remember The Devil and Daniel Webster – the Devil comes to collect a seven year old debt (secured by Jabez Stone’s soul), only to be foiled by the great trial lawyer Daniel Webster – thanks to a skilled litigator, the...more
A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) by filing proofs of claim in bankruptcy cases on debts that were time-barred by Maryland’s statute of limitations (SOL), a divided U.S. Court of...more
In Dubois v. Atlas Acquisitions LLC, Case No. 15-1945 (4th Cir. Aug. 25, 2016), the Fourth Circuit Court of Appeals held in a 2-1 decision that filing proofs of claim on time-barred debts does not violate the Fair Debt...more
On August 25, 2016, the Fourth Circuit Court of Appeals issued its opinion in Dubois v. Atlas Acquisitions LLC, (In re Dubois), No. 15-1945 (4th Cir. Aug. 25, 2016) and joined a majority of other circuits holding that the...more
Eighth Circuit Holds That Filing Accurate Proof of Claim on Time-Barred Debt Does Not Violate the FDCPA - Nelson v. Midland Credit Mgmt., Inc., No. 15-2984, 2016 WL 3672073 *1 (8th Cir. July 11, 2016) - On July 11,...more