Category Archives: Bankruptcy Law

Bankruptcy law news articles, reiews, notes and blog examples.

Supreme Court finds that foreclosure firm engaging in non-judicial foreclosure proceedings is not considered a debt collector under the FDCPA.

In Obduskey v. McCarthy & Holthus LLP, No. 17-1307 (Sup. Ct. Mar. 20, 2019), the Supreme Court ruled unanimously that non-judicial foreclosure actions required by state law are not generally considered debt collection, and therefore are not subject to regulation under the FDCPA. The majority opinion, written by Justice Breyer, held that the firm’s foreclosure activities to enforce a valid mortgage security interest neither fell within the purview of section 1692f(6), which provides a limited purpose definition of “debt collector”, nor within the general definition of “debt collector” in section 1692a(6).  Specifically, the Court held that because  section 1692f(6) does provide that under limited circumstances an enforcer of a security instrument may be considered a “debt collector”, i.e., when there is no right or intention to possess the property or the property is exempt by law for dispossession, Congress did not intend….. To continue reading this legal news please click Read full information...

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Chapter 11 Bankruptcy Could Help Sears Survive

Sears was recently granted a $5.2 billion reorganization plan. Under the plan, Sears can continue operating 425 department stores. The plan also allows 45,000 workers to keep their jobs.Chairman Eddie Lampert entered Sears into Chapter 11 bankruptcy in October. Lampert’s bid fought opposition from several unsecured creditors, including mall suppliers and owners. These creditors tried to stop the sale and requested for liquidation of the company. U.S. Bankruptcy Judge Robert Drain for the Southern District of New York rejected the creditors’ claims. He disagreed that the sale would shut out other parties who wanted to purchase the company, and he rejected the idea that Sears has more value to creditors if it failed. Sears argued that the sale was the best solution, and they explained the need to save thousands of jobs.Although Sears’ long-term fate is murky, Chapter 11 bankruptcy will help provide the retailer a lifeline while it searches for new ways to….. To continue reading this legal news please click Read full information...

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What is Considered Undue Hardship for Student Loans in CA?

Millions of Americans are dealing with vast amounts of student loans that can be difficult to manage. While some borrowers may have reasonable repayment terms based on the amount of money the student borrowed, other students get locked into decades-long repayment plans they may never pay off. Many borrowers are becoming more interested in the […] The post What is Considered Undue Hardship for Student Loans in CA? appeared first on The Bankruptcy Group, P.C.... To continue reading this legal news please click Read full information...

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Chapter 13 Bankruptcy Texas

You are required to repay your creditors some or all of the debt according to a Bankruptcy court approved repayment plan under a Chapter 13 Bankruptcy. Filing Chapter 13 in Texas A Chapter 13 allows you to keep secured assets such as a home or car. But you can only keep them if you have […].. To continue reading this legal news please click Read full information...

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Texas Bankruptcy Exemptions

You can look at the Texas bankruptcy exemptions chart to see whether you can protect the property you value from creditors. Everything you own is placed into a bankruptcy estate when you file for bankruptcy but exemptions let you keep some of your property without paying for it.  However, you should remember that there are […].. To continue reading this legal news please click Read full information...

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