FFGN COLLECT NY

OCTOBER 20, 2021

When considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities. Any objections to the debtor’s exemption must be made within 7 days.

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Judgment Enforcement Judgment Debtor Creditors 98

Jimerson Firm

NOVEMBER 27, 2023

Any secured creditor, large or small, may encounter a situation in which it is preferable to retain or recover the collateral in a transaction without having to sell the collateral itself. The purpose of this article is to make creditors aware of what is and is not possible to do under Florida law. 679.609(1).

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Secured Creditor Collateral Creditors Debtor 59

FFGN COLLECT NY

MAY 24, 2022

Confessions of judgment may no longer be permitted as part of the necessary documents when buying or selling financial services or products to consumers in New York. Senate bill S2632 is another overt action taken by New York state to limit the entry of judgments without due process to the borrower or debtor.

Financial services 52

Financial services Judgment Debtor Creditors 52

Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. 11 U.S.C. §

Chapter 7 bankruptcy 59

Chapter 7 bankruptcy Debtor Bankruptcy Creditors 59

Jimerson Firm

DECEMBER 27, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy.

Debtor 59

Debtor Bankruptcy Chapter 7 bankruptcy Creditors 59

Jimerson Firm

NOVEMBER 23, 2020

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. Florida case law provides that a breach of the peace occurs if the secured creditor enters the debtor’s land to repossess the collateral, without the debtor’s consent.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Troutman Sanders

NOVEMBER 13, 2023

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On November 9, while at the New York Bankers Association’s Financial Services Forum, Federal Reserve Governor (..)

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Jimerson Firm

FEBRUARY 10, 2022

Generally, if debtors owe a debt to a lender, and the lender cancels or forgives that debt for less than its full amount, the debtor is treated for income tax purposes as having income and may have to pay tax on this income by virtue of a 1099-C filing from the lender. Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i).

Lender 98

Lender Credit Unions Credit Unions Collections 98

Troutman Sanders

OCTOBER 16, 2023

The bill amends existing law allowing a judgment creditor to apply for an order requiring the judgment debtor to appear before the court and provide information to aid in the enforcement of a money judgment. A willful violation of this provision would be considered a crime and this bill would impose a state-mandated local program.

Financial services 52

Financial services Student Loans Student loans Credit Unions 52

Consumer Financial Services Law

DECEMBER 12, 2016

Creditors and debt collectors who utilize pre-collect practices should pay close attention to a recent opinion from the Eastern District of Michigan. 1, 2016), the collection agency agreed to provide the creditor with demand letter services which involved a series of three letters per debt account. In Parker Burns v.

Creditors 40

Creditors Collections Agency Collection Agencies Debt collector 40

PBWT

JANUARY 30, 2023

The concept of “property of the estate” is important in bankruptcy because it determines what property can be used or distributed for the benefit of the debtor’s creditors. The Debtors filed for bankruptcy in July 2022, at which point there were approximately 60,000 such Earn Accounts. See 11 U.S.C. §

Bankruptcy 65

Bankruptcy Debtor Unsecured Creditor Creditors 65

Jimerson Firm

NOVEMBER 13, 2020

The court can also order a deficiency judgment against the debtor—that is, a money judgment—to the extent the foreclosure sale does not produce sufficient funds to pay the debt owed to lender on the SBA loan. However, foreclosures (particularly contested foreclosures) can be expensive and less efficient than other liquidation methods.

Loans 98

Loans Collateral Foreclosure Lender 98

Troutman Sanders

NOVEMBER 8, 2023

The defendant offered a “pause” program that allowed the plaintiff to suspend service for up to nine months at a cost of $5 per month, which the plaintiff accepted. Ultimately, the plaintiff filed for chapter 7 bankruptcy protection, listed the defendant as an unsecured creditor, and obtained a discharge of her debt.

Creditors 52

Creditors Chapter 7 bankruptcy Unsecured Creditor Debt collector 52

Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. An affidavit to domesticate the foreign judgment.

Judgment 59

Judgment Debtor Garnishment Creditors 59

Consumer Financial Services Law

MARCH 8, 2018

Dunn A District Court in the Seventh Circuit has held that a debt collector may not avail itself of the § 1692k(c) bona fide error defense if it “intentionally chose to present conflicting information,” even if that conflicting information was provided to it by the creditor. In Garcia v. Miramed Revenue Group, LLC , 2018 U.S.

Debt collector 40

Debt collector Creditors Debtor Judgment 40

BN Lawyers

OCTOBER 23, 2020

Brit Suttell wins the National Creditors Bar Association Donald Kramer Award for efforts on behalf of Credit and Legal Collections Industry. AUSTIN, TEXAS, USA, October 23, 2020 / EINPresswire.com / — Brit Suttell has been awarded the National Creditor’s Bar Association’s Donald Kramer Award. Barron & Newburger, P.C.

Law Firms 52

Law Firms Legal Collections Creditors Creditor's Rights 52

Jimerson Firm

JANUARY 27, 2021

5) The borrower’s proposed treatment of the SBA loan must be fair and equitable in comparison to the treatment to be received by the borrower’s other creditors. 5) The borrower’s proposed treatment of the SBA loan must be fair and equitable in comparison to the treatment to be received by the borrower’s other creditors.

Loans 96

Loans Lender Collateral Creditors 96

Jimerson Firm

AUGUST 7, 2020

The receiver will also be required to post with the court a bond that is conditioned on the faithful discharge of the receiver’s duties, is issued by one or more sureties approved by the court, is in an amount specified by the court, and is effective as of the date of the receiver’s appointment. Make a distribution of receivership property.

Foreclosure 98

Foreclosure Lender Judgment Creditors 98

Burr Forman

AUGUST 20, 2020

Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. David Elliott – Commercial Litigation, Financial Services Regulation Law, Litigation – Banking and Finance. William Hereford – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Litigation – Real Estate.

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Lawyers Construction Acquisition Bankruptcy 40

Burr Forman

AUGUST 20, 2020

Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. David Elliott – Commercial Litigation, Financial Services Regulation Law, Litigation – Banking and Finance. William Hereford – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Litigation – Real Estate.

Lawyers 40

Lawyers Construction Acquisition Bankruptcy 40

Troutman Sanders

APRIL 6, 2023

In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements. See Utah Code Ann. § As a consequence of the repeal, such lawsuits may no longer be viable in Utah.

Collection Agencies 52

Collection Agencies Collections Agency Collections Debt collector 52

Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , or more of a debt is forgiven as a result of settling a debt for less than the balance owing, the creditor may be required to report the amount of the debt forgiven to the Internal Revenue Service on a 1099C form, a copy of which would be mailed to you by the creditor. In Bordeaux v.

Debt settlement 52

Debt settlement Fair Debt Collection Judgment Financial services 52

Consumer Financial Services Law

JANUARY 31, 2020

2019) that creditors who refuse to relinquish an item that was seized pre-petition are not subject to sanctions because their refusal does not violate 11 U.S.C. § She then notified her creditors of the filing and demanded return of the Corvette. The Third Circuit has recently held in In re Denby-Peterson , 941 F.3d 3d 115 (3rd Cir.

Collateral 40

Collateral Repossession Bankruptcy Chapter 13 bankruptcy 40

Consumer Financial Services Law

JANUARY 22, 2021

19-357, resolves this split in favor of the creditor. Background The case arose from four separate chapter 13 bankruptcy cases in which the debtors sought to regain possession of their vehicles from the City of Chicago, which had seized and impounded the vehicles prepetition due to unpaid parking tickets and similar traffic fines.

Bankruptcy 40

Bankruptcy Chapter 13 bankruptcy Construction Debtor 40

Troutman Sanders

JANUARY 17, 2024

District Court for the Southern District of Florida challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau) final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule). Supreme Court in Community Financial Services Association v CFPB (CFSA case).

Trade 52

Trade Creditors Debtor Financial services 52

Consumer Financial Services Law

JULY 21, 2021

The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). Newrez, LLC v. Beckhart , No. 7:20-cv-00192-BO, 2021 U.S. LEXIS 125293, at *1 (E.D.N.C. 1795 (2019).

Bankruptcy 40

Bankruptcy Debtor Creditors Loans 40

Consumer Financial Services Law

AUGUST 27, 2019

In reaching its decision, the Panel noted that the discharge injunction does not prohibit every communication between a creditor and debtor—only those designed to collect, recover or offset any discharged debt as a personal liability of the debtor.

Bankruptcy 40

Bankruptcy Judgment Foreclosure Debtor 40

Consumer Financial Services Law

FEBRUARY 1, 2017

The letter noted the creditor’s name as being “Encompass Management Consultants” when instead the actual creditor’s name was Encompass Management & Consulting LLC. The debtor contended that the letter violated 15 U.S.C. 1692g by failing to accurately identify the creditor.

Debt collector 40

Debt collector Debtor Creditors Judgment 40

FFGN COLLECT NY

JANUARY 10, 2024

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry.

Garnishment 52

Garnishment Collections Debt collector Student Loans 52

BN Lawyers

MARCH 25, 2019

A clever debtor was nevertheless unsuccessful in trying to use the Bankruptcy Code to escape a well-drafted arbitration clause contained in a credit card agreement. The bankruptcy Code allows a debtor to reject an executory contract. In Mines v. However, the rejection argument required more analysis. Mines filed a Chapter 7 case.

Chapter 7 bankruptcy 40

Chapter 7 bankruptcy Bankruptcy Debtor Creditors 40

Consumer Financial Services Law

FEBRUARY 9, 2017

The creditor, a debt buyer, filed its unsecured proof of claim prior to confirmation of the debtor’s Chapter 13 plan. The debtor’s Chapter 13 plan was confirmed after the filing of the proof of claim. Three months later, the debtor objected to the debt buyer’s proof of claim as time barred. In re Haskins, No.

Bankruptcy 40

Bankruptcy Debtor Creditors Collections 40

Consumer Financial Services Law

DECEMBER 29, 2016

I was one of four attorney members of the National Creditors Bar Association in attendance. Lastly, all groups encouraged the Bureau to publish the rules for creditors at the same time as the rules for the third party collectors. We were joined by representatives from the American Collectors Association and the Debt Buyers Association.

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Collections Judgment Enforcement Creditor's Rights Creditors 40

Fico Collections

JUNE 16, 2022

But they may also suffer so-called debt shock, process confusion and significant irritation – especially when creditors show a lack of knowledge or relative indifference to the customer they’re dealing with. Given the backdrop of RtFG customers, it would be expected that in previous ‘abnormal’ periods creditors had: Profiled economic victims.

Collections 52

Collections Creditors Debt Recovery Debtor 52

Consumer Financial Services Law

MARCH 23, 2021

Specifically, the debtor took issue with a disclosure in the validation notice, which she attached to her complaint, that provided “[i]n making this demand we are relying entirely on information provided by our client.” LEXIS 27837, at *19–21 (E.D.N.Y. communication is from an attorney.” Jackson , 988 F.2d 2d 1314 (2d Cir.

Law Firms 40

Law Firms Debtor Judgment Debt collector 40

Jimerson Firm

JULY 30, 2020

Therefore, if the written guaranty limits the liability of the guarantor to a sum certain, unless otherwise set forth in the guaranty, the sum certain in the guaranty represents the guarantor’s aggregate liability and is not offset by the debtor’s payments to the creditor. Bryan, 384 So. 2d 1323, 1324 n.3

Lender 98

Lender Foreclosure Loans Banks 98

Troutman Sanders

OCTOBER 7, 2021

a debt buyer, retained defendant LTD Financial Services, L.P. LTD subsequently sent four collection letters to the plaintiff that identified the creditor as “Citibank (South Dakota), N.A. In Bordeaux , the plaintiff had an outstanding balance on a Home Depot credit card account, and defendant Advantage Assets II, Inc. (AA

Judgment 52

Judgment Collections Debt collector Creditors 52

Consumer Financial Services Law

JANUARY 9, 2016

In 2002, the Ninth Circuit held that the Bankruptcy Code precluded the debtor’s FDCPA claims. In that case, as in Garfield , the debtor sought to enforce a violation of the discharge injunction through the FDCPA. Wells Fargo Bank, N.A., 3d 502, 511 (9 th Cir. Roundup Funding, LLC, 622 F.3d 3d 93 (2 nd Cir.

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Bankruptcy Debtor Debt collector Loans 40