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Creditor's Rights Archives

Grounds to Deny Discharge in Bankruptcy - Corrupt Activities

In a typical bankruptcy, the debtor's goal is to discharge as much of his, her or its debt as possible. The U.S. Bankruptcy Code allows for discharge of certain debts under appropriate circumstances and while creditors have the opportunity to try to protect their interests during the process, the bankruptcy laws are ultimately designed to protect financially-troubled individuals and businesses.

Eleventh Circuit Reviews Creditor Rights Amid Fraudulent Transfer Allegations in Corporate Bankruptcy Case

In late 2015, the U.S. Court of Appeals for the 11th Circuit considered an interesting case involving debtor and creditor rights amid Chapter 11 bankruptcy proceedings. The case involved a parent company, its subsidiary and several creditors claiming that the insolvent subsidiary was dabbling in fraudulent transfers of valuable assets for purposes of reducing exposure to liquidation under the Chapter 11 proceedings.

Federal Court Addresses Creditors' Rights Following Borrower 'Surrender' in Bankruptcy

Over the past decade, the number of residential home foreclosures in the state of Florida has fortunately seen a steady decline. Whether due to increasing employment rates or stagnantly-low interest rates, homeowners have made great strides in remaining in their homes and avoiding the tragic pitfalls of the mortgage loan default.

Spotting Debtor Misdeeds: Fraud in Bankruptcy

As a creditor, you are likely intimately familiar with the discouraging list of dischargeable debts under the U.S. Bankruptcy Code. Unfortunately, these laws permit debtors to escape liability on certain debt obligations, provided certain criteria are met. Currently, debtors may avoid paying any of the following debts through bankruptcy discharge:

Florida Court Clarifies Notice of Default Requirements for Debtors, Holds 'Substantial Compliance' by Creditors Sufficient

Initiating the collections or repossession process against a borrower in default necessitates a careful reading of applicable state and federal statutes. As we will explain further, creditors may not simply appear on property to repossess a vehicle or jumpstart the foreclosure process without ensuring adequate due process is afforded the borrower.

Impact of Supreme Court's Caulkett Decision on Junior Lienholders' Market

For banks and lenders engaged in the junior lienholder market, taking a secondary position to the primary secured lender is risky enough without the added frustration of lenient bankruptcy laws allowing discharge of "worthless debts." Fortunately, the U.S. Supreme Court expanded the notion - first set in 1992 in Dewsnup v. Timm - that "upside down" mortgages are not necessarily dischargeable under Section 506(d) of the Bankruptcy Code and debtors cannot petition to "strip" junior liens on a property even if the lien is essentially worthless.

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