A lawyer could be sanctioned for unreasonably relying on information provided by her client in pursuing creditor claims in a bankruptcy case, the 3rd Circuit has ruled in reversing judgment. The lawyer represented a bank that held a mortgage on homeowners who filed for Chapter 13 protection. Rather than being contacted directly by the bank, the lawyer was retained through NewTrak, a third-party computer service designed to handle high-volume foreclosure work.
Introduction. II. In Louisiana, A Debtor Retains Title To Collateral; The Creditors Merely Get A Right To Seize And Sell The Asset And Get A Privilege On The Proceeds Of The Sale. III. Louisiana Has Traditionally Required A Creditor To Use Judicial Process To Sell The Collateral Which Secures A Loan. IV. Judicial Sales. V. The Origins Of Louisiana's Deficiency Judgment Act And Its Relationship To Executory Process. VI. The Louisiana Deficiency Judgment Act Is A Procedural Rule. VII. Calculating The Minimum Bid At The First Sale . VIII. What A Foreclosing Creditor Must Pay In A Winning Bid And How This Relates To The Minimum Bid At The First Sale And The Distribution Of Proceeds Of The Sale. A. Examples Involving a Mortgage Inferior to that of the Foreclosing Creditor. B. Foreclosure ...
... or because the debtor files for bankruptcy, the creditor's action in invoking the second sale...
An auto lender did not have a secured claim in bankruptcy for the negative equity on the debtor's trade-in vehicle, the 9th Circuit has ruled in affirming judgment. The Bankruptcy Code allows the splitting of certain creditor claims into a secured claim for the present value of collateral and an unsecured claim for the amount exceeding that value.
A man who claimed dementia caused him to submit contradictory testimony at his bankruptcy proceedings is entitled to his day in court, the 4th U.S. Circuit Court of Appeals has held. Three months after Elwood Dean French filed for relief in October 2002, Mercantile Peninsula Bank, a creditor, asked the bankruptcy court to deny his petition. Peninsula was granted summary judgment in 2002. But the federal appellate court reversed last week, remanding the case back to bankruptcy court.
A Chapter 13 debtor's disposable income should have been determined based on the salary he would be receiving in a new job rather than on his limited income during the Bankruptcy Code's "look- back" period, the 6th Circuit has ruled in reversing judgment. The Bankruptcy Abuse Prevention and Consumer Protection Act increases the creditor payment obligations for "above median" income debtors.
...-a Texas state probatecourt and the Bankruptcy Court for the Central Districtof California-have r... lacked the authority to enter final judgment on acounterclaim that Vickie brought against P... is so closely related to [a creditor's] proof ofclaim that the resolution of the counte...
A lender could maintain a bankruptcy claim for a deficiency not satisfied by the surrender and sale of the debtors' vehicle, the 2nd Circuit has ruled in reversing judgment. The "hanging paragraph" to [section]1325(a) of the Bankruptcy Code generally prevents creditor claims relating to auto loans from being divided into secured and unsecured debt under [section]506(a).
Once a creditor has a judgment, the creditor usually must seek a writ of garnishment from the court (which is simply a matter of completing paperwork). Once the creditor has the writ of garnishment, they employ the local sheriff or private process server to go down to your place of employment and serve the writ of garnishment...note, in many states, the writ can be served by mail. You will usually get a copy of the Writ, sometimes it is mailed to you by the creditor other times you will get a copy from your HR representative at work. Yes. When you file Bankruptcy, that act creates the "automatic stay" which forbids all creditors from doing anything to collect a debt. However, unless you take steps to notify your employer and the garnishing creditor of your BK, there will be a delay betw...
The negative equity that Chapter 13 debtors had in a trade-in vehicle was not subject to the "cramdown" power of the bankruptcy judge, the 6th Circuit has ruled in reversing judgment. Bankruptcy courts have the authority to employ a "cramdown" procedure by which a secured creditor may be forced to accept less than the full value of its claim by stripping the secured portion of the claim down to the value of the collateral.
ver las páginas en versión mobile | web
ver las páginas en versión mobile | web
© Copyright 2012, vLex. All Rights Reserved.
Contents in vLex United States
Explore vLex
For Professionals
For Partners
Company
Other interesting searches:
electric wire | employee hazmat training | Quentin Crisp | Patrick Parrish | Neil Sweeney | Luces del automotor | Titres miniers | opposition carte bancaire credit agricole | Dipendenti secondo le stagioni | chateaubourg immobilier
