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. On appeal, the Ninth Circuit reversed.

Debtor 40

Debtor Debt collector Law Firms Accrued Interest 40

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

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. In Brunett v. Convergent Outsourcing, Inc.

Accrued Interest 52

Accrued Interest Judgment Fair Debt Collection Law Firms 52

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

BN Lawyers

MARCH 23, 2020

For an unsecured creditor to obtain a recovery, it would need to engage in a months-long legal process to obtain a judgment that could be halted at any point by a chapter 11 bankruptcy reorganization. Although minimum payments may result in accrued interest, that is better than a lockout or eviction.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67