U.S. Supreme Court Rules that Fair Debt Practices Act Does Not Apply to Time-Barred Proofs of Claims Filed in Bankruptcy Cases, Midland Funding LLC v. JohnsonMay 16, 2017 | Jason K. Wright, Esq.
On May 15, 2017, the Supreme Court of the United States (SCOTUS) issued a decision in Midland Funding, LLC v. Johnson, ruling that filing an obviously time-barred proof of claim in a Chapter 13 case does not violate the Fair Debt Collection Practices Act (FDCPA). In doing so, SCOTUS overturned an Eleventh Circuit decision which would have allowed debtors to file suit for damages ? and potentially for sanctions and attorneys' fees ? against creditors who filed time-barred proofs of claim. SCOTUS also resolved a conflict of authority within the circuits on this issue, as three other circuits (the Fourth, Seventh and Eighth) had ruled that the FDCPA does not apply to claims filed in a bankruptcy case....Read More
A lawsuit is filed, judgment is awarded and the defendant still fails to pay the creditor. This scenario is all too common; it can sometimes take years and require multiple strategies to collect a judgment. In Ohio, a judgment eventually becomes dormant, unless steps are taken to keep it active. Recent changes to Ohio law have updated creditors' rights regarding dormancy. In addition, when a judgment creditor seeks to attach a defendant's property, streamlined procedures are now available if a third party claims ownership of that property....Read More
Can a Mortgage Holder with a Defectively-Executed Mortgage Assignment Succeed in a Foreclosure Case?April 27, 2017 | Larry R. Rothenberg, Esq.
It is common for the plaintiff in a foreclosure case to have acquired the note and mortgage from the original lender. Typically, the original note holder transfers its rights in the note by indorsing the original note or signing an allonge and then delivering the original note to the new note holder....Read More
On March 16, 2017, Kentucky Governor Matt Bevin signed Kentucky House Bill 223 into law - bringing about significant changes to Kentucky's statutory interest provisions....Read More
Kentucky Supreme Court Case Adopts 6th Circuit's Prohibition of Pre-Judgment Interest on Open-end Credit AccountsApril 5, 2017 | James T. Hart, Esq.
A debt-collector seeking contractual or statutory pre-judgment interest on a credit card account after the account has been charged-off may be in violation of the Federal Fair Debt Collection Practices Act (FDCPA), according to a Kentucky Supreme Court decision made on February 16, 2017 in the case of Unifund CCR Partners v. Harrell, 2015-SC-000117-DG....Read More
Amendments to Wisconsin Foreclosure Law Shorten Redemption Periods and Modify Procedures for Abandoned PropertiesFebruary 23, 2017 | Charles A. Walgreen, Esq.
Significant changes have been made to redemption periods for Wisconsin non-commercial mortgages executed on or after April 27, 2016, in addition to modifications to the procedures for the sale of abandoned properties. The impacted area of state law went into effect on the same date in 2016 through enactment of 2015 Wisconsin Act 376....Read More
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