Posts in Bankruptcy.

As the COVID-19 pandemic rages, Michigan’s real estate industry braces for a potential wave of foreclosures and evictions.

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A recent federal appellate court ruling illustrates the traps lenders could trip when state court collection actions against joint borrowers intersect with federal bankruptcy law.

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Bankruptcy court rules trustees can’t claw back, as fraudulent transfers, Plus Loans taken by parents for a child’s education.

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Creditors must closely scrutinize Chapter 13 cases to understand what debts are being discharged and to update business records to ensure discharged debts are not pursued post-bankruptcy. 

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Companies consider legal options after lawsuits were filed against them by the City of Detroit seeking to recoup pre-bankruptcy payments.

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Following the U.S. Supreme Court's historic ruling on same sex marriage, federal and state lawmakers must play catch up to revise major statutes, including the U.S. Bankruptcy Code.

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https://www.ftc.gov/system/files/documents/statutes/fair-credit-reporting-act/545a_fair-credit-reporting-act-0918.pdfCourt rules that bank, which accepted a borrower's voluntary payments post-bankruptcy and opted not to foreclose its security interest in the mortgage, did not violate the FCRA by reporting the loan as closed on the borrower's credit report.

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Include language in standard contracts to maximize the likelihood your company is paid in the event of a customer's financial distress or bankruptcy.

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