ABI

JANUARY 22, 2023

the United States Court of Appeals for the Ninth Circuit held that solvent-debtors are required to pay unimpaired creditors their bargained for post-petition interest rate. [1] 7] Generally, under the Bankruptcy Code, once a debtor files for bankruptcy, an unsecured claim no longer accrues interest. [8]

Debtor 40

Debtor Bankruptcy Creditors Unsecured Creditor 40

FDCPA Defense

AUGUST 22, 2016

Courts apply the very pro-consumer “least sophisticated debtor” standard when evaluating a collector’s communications, and most violations of the Act are “strict liability” – meaning the debtor can win the case without proving the collector intended to violate the statute.

Debtor 40

Debtor Debt collector Law Firms Accrued Interest 40

Nexa Collect

FEBRUARY 13, 2021

Consider a scenario where a company is low on cash and accounts payable show an uptick; in that case, the company would quickly turn to its receivables and attempts to recover money from its debtors. While there are many ways to create your fund, the best way is to open a savings account, preferably one that accrues interest over time.

Accrued Interest 130

Accrued Interest Retail Debtor Collections 130

Troutman Sanders

APRIL 22, 2021

The letter identified interest and collection costs as “$0.00” for each, leaving the total balance the same as the principal. 2015) (“sometimes referred to as the ‘least sophisticated consumer’ or ‘unsophisticated debtor’ standard”). in interest and fees.” See also Jensen v.

Debtor 52

Debtor Debt collector Accrued Interest Collections 52

Troutman Sanders

JANUARY 11, 2021

The Seventh Circuit held that for a concrete injury to result from the dunning letter’s exclusion of a statement about accruing interest, the exclusion must have detrimentally affected the Spuhlers handling of their debts.

Accrued Interest 52

Accrued Interest Judgment Fair Debt Collection Law Firms 52

Jimerson Firm

MARCH 19, 2021

Once a loan is in default, the Dodd-Frank Wall Street Reform and Consumer Protection Act provides specific protections for consumer debtors. After providing notice, the Secretary has the option to pay the unpaid balance plus accrued interest and receive an assignment of the loan. Section § 1024.39 Title 38 C.F.R.

Loans 98

Loans Foreclosure Lender Accrued Interest 98

FDCPA Defense

FEBRUARY 1, 2018

Duty to disclose accruing interest, fees or other charges A significant recent trend in FDCPA case law involves courts that have imposed new disclosure obligations that are not found in the plain language of the Act. Two decisions out of the Second Circuit that have sparked a wave of new lawsuits against collectors are Avila v.

Accrued Interest 40

Accrued Interest Foreclosure Debtor Debt collector 40