Articles from Foster Swift Collins & Smith

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U.S. Supreme Court Rules that Order Granting or Denying Request for Relief from Automatic Stay is Final Order that is Immediately Appealable

Submitted by Anonymous (not verified) on Wed, 01/15/2020 - 19:00

A party who believes that a bankruptcy court erred in either granting or denying relief from the automatic stay needs to act fast to appeal such a decision. In the recently decided case of Ritzen Group, Inc. v. Jackson Masonry, LLC, the U.S.

Sixth Circuit Court of Appeals Finds No Breach of Contract or FCRA Violation in Connection with Late Payments Under a Reaffirmation Agreement

Submitted by Anonymous (not verified) on Tue, 07/16/2019 - 19:00

In bankruptcy, a debtor must relinquish assets to satisfy debts. But there are exceptions to this general rule. Certain assets may be exempted from a debtor’s bankruptcy under federal and state law. Other assets, which are subject to a contractual loan agreement and the security interest of a lender, may be “reaffirmed” by a debtor pursuant to a reaffirmation agreement.

Supreme Court Decides that Law Firms Engaged in Non-Judicial Foreclosure Proceedings are Not Debt Collectors Under the FDCPA

Submitted by Anonymous (not verified) on Sun, 04/28/2019 - 19:00

For many, the term “debt collection” calls to mind threatening letters and harassing, late-night phone calls. There’s no doubt that many debt collection practices involve aggressive and unseemly tactics used to collect credit card and other unpaid debts, and, as a result, Congress stepped in to curb these practices by passing the Fair Debt Collection Practices Act (“FDCPA”). Read More ›

Chapter 7 Debtors Permitted to Amend Schedules to Claim Homestead Exemption after Successful Avoidance Action by Trustee

Submitted by Anonymous (not verified) on Wed, 09/19/2018 - 19:00

The purpose of bankruptcy is to provide for an orderly process by which a debtor’s assets can be fairly divided and distributed among creditors. Read More ›

U.S. Supreme Court Holds that Debtor’s False Oral Statement Concerning Single Asset Does not Provide Basis for Non-dischargeability Action

Submitted by Anonymous (not verified) on Wed, 06/13/2018 - 19:00

On June 4, 2018, the U.S. Supreme Court decided the case of Lamar, Archer & Cofrin, LLP v. Appling, No. 16-1215, which dealt with the dischargeability of debt in bankruptcy proceedings. The Court held that a statement about a single asset can be a “statement respecting the debtor’s financial condition” under section 523(a)(2) of the Bankruptcy Code. Read More ›

Sixth Circuit Court of Appeals Holds that Penalties Associated with Michigan Unemployment Benefits Fraud are Non-dischargeable in Chapter 13 Bankruptcy Cases

Submitted by Anonymous (not verified) on Mon, 06/11/2018 - 19:00

In a recent opinion, the U.S. Court of Appeals for the Sixth Circuit (the “Court”) ruled that penalties assessed by the state of Michigan against two debtors, stemming from fraud associated with the wrongful receipt of Michigan unemployment benefits, are non-dischargeable in Chapter 13 bankruptcy pursuant to Bankruptcy Code § 523(a)(2).1 Read More ›

Bankruptcy Court Grants Relief from Stay to Credit Union to Exercise State Law Rights Related to Setoff Against Funds in which the Debtor's Children Hold an Interest

Submitted by Anonymous (not verified) on Tue, 02/20/2018 - 19:00

The United States Bankruptcy Court for the Western District of Michigan recently issued an opinion in a case that involved mutual claims between the debtor and a creditor, and lifted the automatic stay to allow a creditor to exercise “setoff” rights provided by state law to recover its debt.1 Read More ›
Tags: Chapter 13

The Debtor, not the Trustee, is Entitled to Funds Being Held by a Trustee Following Dismissal of a Chapter 13 Bankruptcy Case

Submitted by Anonymous (not verified) on Mon, 01/22/2018 - 19:00

Filing for Chapter 13 bankruptcy as a consumer is a voluntary decision. Once a Chapter 13 case has been filed, it is also up to the debtors to dismiss the case if they so choose. Read More ›
Tags: Chapter 13, Did you Know?

New Bankruptcy Rules with Significant Changes Effective December 1, 2017

Submitted by Anonymous (not verified) on Thu, 11/30/2017 - 19:00

Numerous changes to the Federal Rules of Bankruptcy Procedure (the “Rules”) take effect on December 1, 2017. The changes significantly impact the administration of consumer bankruptcy cases, and Chapter 13 cases in particular. Read More ›
Tags: Chapter 13, Chapter 7

Trustee’s Avoidance of Transfer by Chapter 7 Debtors Does Not Necessarily Preclude Debtors from Claiming an Amended Exemption

Submitted by Anonymous (not verified) on Tue, 11/28/2017 - 19:00

The United States Bankruptcy Court for the Western District of Michigan recently issued an opinion in a bankruptcy case involving a husband and wife who filed for Chapter 7 bankruptcy protection. Read More ›
Tags: Chapter 7, Collections

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