Showing 4 posts in Collections.
U.S. Supreme Court Rules that Order Granting or Denying Request for Relief from Automatic Stay is Final Order that is Immediately Appealable
A party who believes that a bankruptcy court erred in either granting or denying relief from the automatic stay needs to act fast to appeal such a decision. In the recently decided case of Ritzen Group, Inc. v. Jackson Masonry, LLC, the U.S. Supreme Court held that: “[A]djudication of a motion for relief from the automatic stay forms a discrete procedural unit within the embracive bankruptcy case” which “yields a final, appealable order when the bankruptcy court unreservedly grants or denies relief.” Read More ›
Categories: Chapter 11, Collections, U.S. Supreme Court
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Sixth Circuit Court of Appeals Finds No Breach of Contract or FCRA Violation in Connection with Late Payments Under a Reaffirmation Agreement
In bankruptcy, a debtor must relinquish assets to satisfy debts. But there are exceptions to this general rule. Certain assets may be exempted from a debtor’s bankruptcy under federal and state law. Other assets, which are subject to a contractual loan agreement and the security interest of a lender, may be “reaffirmed” by a debtor pursuant to a reaffirmation agreement. The debtor may keep the asset, such as a house or a car, as long as the debtor enters into a new agreement with the lender that reaffirms the debt according to defined contractual terms, which may or may not track the original loan terms. Read More ›
Categories: 6th Circuit Court of Appeals, Billing/Payment, Chapter 7, Collections
Supreme Court Decides that Law Firms Engaged in Non-Judicial Foreclosure Proceedings are Not Debt Collectors Under the FDCPA
For many, the term “debt collection” calls to mind threatening letters and harassing, late-night phone calls. There’s no doubt that many debt collection practices involve aggressive and unseemly tactics used to collect credit card and other unpaid debts, and, as a result, Congress stepped in to curb these practices by passing the Fair Debt Collection Practices Act (“FDCPA”). Read More ›
Categories: Collections, Financing, U.S. Supreme Court
Trustee’s Avoidance of Transfer by Chapter 7 Debtors Does Not Necessarily Preclude Debtors from Claiming an Amended Exemption
The United States Bankruptcy Court for the Western District of Michigan recently issued an opinion in a bankruptcy case involving a husband and wife who filed for Chapter 7 bankruptcy protection. Read More ›
Categories: Chapter 7, Collections
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