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Exemptions Creditors

Walkers

Transposition of Credit Servicers Directive in Ireland – Overview

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On 29 December 2023, the Minister for Finance signed the European Union (Credit Servicers and Credit Purchasers) Regulations 2023 (the "Regulations") into law, thereby transposing the Directive on credit servicers and credit...more

Miller Canfield

Michigan Bankruptcy Exemptions Set to Rise Significantly on March 1

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As we reported last year, every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The federal dollar amounts last were increased on April 1, 2022, and are not slated for...more

White and Williams LLP

Pennsylvania Superior Court: No Creditor Protection for Inherited IRAS

Under longstanding Pennsylvania law, retirement savings vehicles like individual retirement accounts (IRAs), 401(k) and 403(b) accounts, pensions, and employee stock ownership plans (ESOPs) are generally exempt from creditor...more

Kerr Russell

No Foolin’: Bankruptcy Code Changes Go Into Effect On April 1

Kerr Russell on

For both debtors and creditors, the numbers are important in a bankruptcy proceeding. The Judicial Conference of the United States has announced that certain dollar amounts and dollar limitations in the U.S. Bankruptcy Code...more

Woods Rogers

Direct Deposits of Child Tax Credits are Exempt from Creditor Process

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Banks are reminded that child tax credit payments made by direct deposit are exempt from creditor process. In particular, the Virginia law (Code §34-28.3) provides an exemption for any “emergency relief payment” made in...more

Ballard Spahr LLP

CFPB Finalizes Rule to Implement Growth Act Escrow Exemption for Higher-Priced Mortgage Loans

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As previously reported, the Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act), passed in June 2018, created an exemption from the requirement to maintain an escrow account in connection with a...more

Ballard Spahr LLP

CFPB Proposes to Implement Growth Act Escrow Exemption for Higher-Priced Mortgage Loans

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As previously reported, the Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act), also known as S.2155, directs the CFPB to implement an exemption from the mandatory escrow account requirement for...more

Flaster Greenberg PC

Inconsistent Rulings Should Cause an IRA Beneficiary to Consider Alternative Inheritance Methods

Flaster Greenberg PC on

Despite the differing treatment of inherited IRAs under Federal, New York, and New Jersey law, clients may be best served to inherit IRAs in trusts or other asset protection vehicles rather than outright so as to provide an...more

Smith Debnam Narron Drake Saintsing & Myers,...

The Alchemist’s Guide to Post-Judgment Collections

In the hectic world of North Carolina civil litigation, the focused practitioner understandably may lose sight of the forest for the individual trees. Analyzing thousands of pages of poorly-copied document production for that...more

Jackson Walker

Intellectual Property Issues in Bankruptcy and the Exclusion of Trademark Licenses from the Definition of Intellectual Property

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The Bankruptcy Code divides intellectual property into distinct categories depending upon the particular type of intellectual property. Issues with respect to intellectual property can be of utmost importance in bankruptcy,...more

Proskauer Rose LLP

Wealth Management Update - August 2014

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August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Ballard Spahr LLP

CFPB adjusts HMDA data collection and TILA mortgage escrow thresholds

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In notices published in yesterday’s Federal Register, the CFPB adjusted the thresholds of the asset-size exemptions for collecting HMDA data and establishing an escrow account for certain mortgage loans under TILA. ...more

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