Sawin & Shea

NOVEMBER 24, 2021

It goes into effect immediately when you file and protects you from those trying to collect from you, such as creditors, collection agencies, government entities, or any other person coming after you for money. The Court allows these actions so that a creditor can recover collateral for which they are not receiving payment.

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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. by the existence of a separate provision, §542, that expressly governs the turnover of estate property.”

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Debt Free Colorado

OCTOBER 12, 2023

Detailed information about your property, collateralized debt, other debts, contracts, codebtors, income, expenses, and financial affairs must be provided accurately in the relevant sections of the bankruptcy form. Two of the most typical collateralized loans are mortgages and auto loans. You can start over because of that.

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Troutman Sanders

DECEMBER 4, 2023

The OCC will invite authors of selected papers to present to OCC staff and invited academic and government researchers at OCC Headquarters in Washington, D.C., On November 30, crypto exchange Binance announced it has introduced a pilot program enabling banks to store trading collateral off-exchange, a move aimed at reducing counterparty risk.

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Collection Industry News

JANUARY 19, 2025

This means lenders will also be barred from using information about medical devices, such as prosthetic limbs, that could be used to require that the devices serve as collateral for a loan for the purposes of repossession.

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Sawin & Shea

APRIL 10, 2024

Reaffirming Debts in Chapter 7 Bankruptcy Chapter 7 bankruptcy allows you to discharge your unsecured accounts, but you cannot do away with a creditor’s a security interest, meaning a debt with collateral must either get paid or the collateral property surrendered.

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BN Lawyers

MARCH 23, 2020

These parties could foreclose or repossess the property securing the loans. They could lock you out of your location or repossess equipment. Secured creditors can foreclose on their collateral if they are not paid and have special rights in a reorganization proceeding. These creditors are not of equal importance.

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Debt Free Colorado

MARCH 3, 2023

Generally, secured debt (loans backed by collateral), student loans, child support or alimony, recent taxes, criminal fines, or personal injury judgments cannot be discharged. What Can’t Bankruptcy Do? Not all financial issues can be resolved through bankruptcy. What Debts are Discharged in Bankruptcy?

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Collection Industry News

JUNE 10, 2024

Bar lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone can’t repay the loan. Talk to an advocacy group or government agency Organizations like Undue Medical Debt and the Patient Advocate Foundation work with individuals to pay off medical debts.

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Sawin & Shea

JUNE 21, 2023

Removal of your automatic stay protection : You’ll no longer have protection from your creditors, potentially leaving you vulnerable to wage garnishment, debt collection lawsuits, repossessions, and foreclosures. That said, filers cannot discharge all of their debts through Chapter 13.

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Collection Industry News

JANUARY 25, 2025

The government agencys new rule goes further by banning all outstanding medical bills from appearing on credit reports and prohibiting lenders from using the information. The three national credit reporting agencies Experian, Equifax and TransUnion said last year that they were removing medical collections under $500 from U.S.

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