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Consumer Bankruptcy › Today's Popular Updates

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 -
Epiq

The Importance of Data Security in Bankruptcy Claims

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Data security is a major concern across virtually all areas of the legal profession particularly in 2024 thanks in part to a record-breaking number of cyber incidents last year that cost companies an average of $4.45 million...more

McGlinchey Stafford

Decision Blocks Ch. 13 Bankruptcy for Cannabis Business Employee

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If you work for a cannabis business, then bankruptcy relief may not be available to you, according to the In re Blumsack decision out of the U.S. Bankruptcy Court for the District of Massachusetts. Whether an employee works...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Israel (Updated)

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KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli Parliament (Knesset) passed a new statute regarding insolvency law, which is named the Insolvency and Rehabilitation Law2018...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Russia (Updated)

International Lawyers Network on

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER RUSSIAN LAW - The main piece of the legislation that regulates the activities of parties in insolvency proceedings in the Russian Federation is the...more

Rivkin Radler LLP

Stimulus Package Includes Bankruptcy Updates

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The Coronavirus Aid, Relief, and Economic Security Act(CARES Act), signed by President Trump on March 27, 2020, contains key changes to the Bankruptcy Code. The CARES Act and the previously enacted Small Business...more

Carlton Fields

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

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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

Bradley Arant Boult Cummings LLP

The City Has My Vehicle. What Now?

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Chicagoans have found a new avenue through which to regain possession of their vehicle after it has been impounded by the City: file a chapter 13 bankruptcy case. In 2018, 17,603 new chapter 13 bankruptcy cases were filed in...more

Fox Rothschild LLP

For The Defense: State Courts Reject The Ponzi Scheme Presumptions In Fraudulent Transfer Actions

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Bernie Madoff in New York, Tom Petters in Minneapolis, Allen Stanford in Houston, and Darren Berg in Seattle lead a rogues’ gallery of infamous Ponzi schemers. All are now serving time in prison. But the civil litigation...more

BakerHostetler

Third Circuit Upholds Foreclosure Sale Against Preference Attack

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On July 19, the Third Circuit Court of Appeals entered a decision upholding the results of a foreclosure sale against a debtor’s allegation that the sale was a preference because the bankruptcy estate could have sold the...more

Balch & Bingham LLP

Texas Bankruptcy Judge Holds that Not Every Loan Related to Education is a Nondischargeable Student Loan in Purported Class Action

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Bankruptcy Code Section 523(a)(8) generally prohibits a discharge of student loan debt, unless the student debtor can prove that paying it back would be an undue hardship—often a high bar. That does not stop student debtors...more

Orrick - Finance 20/20

CFPB Issues Final Rule to Help Mortgage Servicers Communicate With Certain Borrowers Facing Bankruptcy

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On March 8, 2018, the Consumer Financial Protection Bureau (“CFPB“) announced a final rule designed to aid mortgage servicers in assisting borrowers dealing with bankruptcy issues while complying with the Truth in Lending...more

Burr & Forman

Eleventh Circuit Holds That a Creditor’s Due Process Claim Can Be Inadvertently Waived By Inaction

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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

Bradley Arant Boult Cummings LLP

Bitcoin and Bankruptcy: What You Need to Know about the Value of Bitcoin and Other Cryptocurrencies in Bankruptcy

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It is hard to peruse the internet or even mainstream media outlets without hearing about bitcoin. What is this ubiquitous bitcoin? It depends on whom you ask....more

Burr & Forman

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

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Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

Orrick, Herrington & Sutcliffe LLP

The Gorsuch Nomination: The Return of the Business Friendly Court?

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Assuming Judge Gorsuch's confirmation, the Court will add a Justice with extensive commercial litigation experience, a particular expertise in antitrust and securities law, and a track record on the bench that demonstrates a...more

BCLP

Helpful Cases for Mortgage Servicers Attempting to Comply with Mortgage Servicing Regulations After a Bankruptcy Discharge

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Mortgage lenders and servicers face several regulations in servicing residential mortgages. There are requirements under the Truth in Lending Act (“TILA”), Real Estate Settlement Procedures Act (“RESPA”), the Equal Credit...more

BCLP

Are Those Taxes Owing On Your Late-Filed Tax Return Dischargeable? Maybe, But You Better Be In The Right Circuit

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Individual debtors with old tax debts relating to late-filed tax returns may be surprised to find that those tax debts may not be dischargeable under section 523(a) of the Bankruptcy Code due to the lateness of the tax...more

Robinson+Cole Construction Law Zone

Recipe for a Project Bankruptcy: The Owner in Bankruptcy Through The Lens of the Construction Manager

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Industry leaders agree that the economy has turned the corner and private construction projects are on the uptick.  Banks have eased lending requirements and there is more private equity money on the streets.  Inexperienced...more

Pillsbury - Internet & Social Media Law Blog

50 Cent Breaks the Golden Rule of Social Media Posting

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“Be careful what you post.” This may be the most obvious of social media commandments. Yet, it’s also true that it’s difficult to control the degree of public access to photos and messages posted on a social media platform,...more

Ballard Spahr LLP

New Bankruptcy Forms Affect Residential Mortgage Lenders, Servicers

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Sweeping changes to the federal bankruptcy forms went into effect on December 1, 2015. The changes pertaining to proofs of claim for residential mortgage loans are especially significant. The new forms are to be used in all...more

Pullman & Comley, LLC

Bankruptcy Beat: An Emerging Trend: Bankruptcy Trustees Seeking to Claw Back Tuition Payments Made by Unsuspecting Parents

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A developing trend in our nation’s bankruptcy courts has been the number of lawsuits filed or threatened by bankruptcy trustees to recover tuition payments made by a student’s parents when the parents later file for...more

Lowndes

Three Recent Supreme Court Rulings Will Impact Lenders and Investors

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Three significant opinions issued by the US Supreme Court in the last few months will impact lenders and investors. Bank of America v. Caulkett - In a major win for the nation’s mortgage lenders and...more

Buchalter

The Supreme Court Prohibits Chapter 7 Debtors From Stripping Off Wholly Underwater Liens in Bankruptcy

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On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Bank of America v. Caulkett and Bank of America v. Toledo-Cardona

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On June 1, 2015, the United States Supreme Court decided Bank of America v. Caulkett, No. 13-1421, together with Bank of America v. Toledo-Cardona, No. 14-163, holding that a debtor in a Chapter 7 bankruptcy proceeding may...more

Adams and Reese LLP

Confusion Surrounds the Fair Debt Collection Practices Act

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The United States Supreme Court recently declined to review Crawford v. LVNV Funding, LLC, 758 F.3d 1254, 1257 (11th Cir. 2014) cert. denied, No. 14-858, 2015 WL 246891 (U.S. Apr. 20, 2015), an Eleventh Circuit decision that...more

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