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.
Appellate court ruling allows receivers to sell property even if proceeds fail to compensate junior lien holders.
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.
Appellate court rules on whether lender can sue to enforce other security in a loan default situation without also foreclosing on the borrower's mortgage.
- Commercial Liability
- Business Risk Management
- Business Torts
- Civil Litigation
- Alternative Dispute Resolution (ADR)
- Commercial Real Estate
- Trade Secrets
- Litigation Discovery
- Corporate Formation
- Commercial Leasing
- Real Estate
- Real Estate Mortgages
- Commercial Loans
- Mortgage Foreclosure
- Regulatory Law
- Shareholder Liability
- Risk Management
- Fraud Activity
- Cyber Attack
- Tax Law
- Damages Recovery
- Class Action
- Product Liability
- Biometric Data
- Banking Law
- Statute of Limitations
- Noncompete Agreements
- Internet Law
- Consumer Protection
- Residential Liability
- Zoning and Planning
- Department of Education (DOE)
- Fair Debt Collection Practices Act
- Fair Credit Reporting Act
- Unfair Competition
- Uniform Commercial Code (UCC)
- 10 Things About Trade Secrets you may not but Should Probably Know
- What New Lawyers Bring to the Practice of Law
- What Rights do Limited Liability Company Minority Members Really Have?
- Arbitration or the Courtroom, Who Decides?
- Wait, I Have to Pay my Own Attorney? But I Won the Case?
- Preliminary Injunctions in Michigan, the More They Change the More They Stay the Same
- President Biden Signs Cryptocurrency Executive Order Establishing Whole-of-Government Approach to Regulating Digital Assets Industry
- My 5 Lessons Learned from the COVID-19 Pandemic
- Am I at Fault for Breach of Contract if the Other Party Breached It First?
- Maximizing Damages Recovery in Michigan's District Courts Challenged by Jurisdiction Limits