According to Robing Miller of CBAR, under Illinois law, a quitclaim deed given to the mortgage lender by the debtor prepetition in connection with a forbearance agreement was treated as an equitable mortgage rather than as a conveyance of the property. As a result, the debtor remained the owner of the property and could include…
What is the Fair Debt Collection Practices Act?
The Fair Debt Collection Practices Act (FDCPA) was passed in 1977 to protect consumers from improper tactics and other abuses used by debt collectors. The FDCPA does not apply to the original creditor. The FDCPA applies to third-party debt collection agencies. It is very important to document everything. You want detailed records indicating when the…
NACBA FILES AMICUS BRIEFS IN 2 SUPREME COURT CASES
As reported by the National Association of Consumer Bankruptcy Attorneys, NACBA filed amicus briefs on Monday in two pending Supreme Court cases: Harris v. Veigelahn and Bullard v. Blue Hills Bank. The issue in Harris is whether funds paid into a confirmed chapter 13 plan that are still in the trustee’s possession when the bankruptcy is converted to chapter 7 should be refunded…
THE 7 SECRETS TO STOP THE TAX SALE OF YOUR HOUSE
WARNING: ADULT CONTENT & ACTION REQUIRED If you owe the 2012 real estate taxes on your house, you must take immediate action as follows: 1. Call Attorney Mike Shovan at (989) 233-9389 immediately. 2. Open any notice from the Saginaw County Treasurer’s office and read it. Follow the directions set forth in any notice: make…
Can a Judgment from another State be Enforced Against Me in Michigan?
Yes. Michigan has adopted the Uniform Enforcement of Foreign Judgments Act which can be found at MCL 691.1171. Under this statute, an out of state creditor can make their judgment enforceable in a Michigan court. The process is real simple. All they have to do is the following: File a certified copy of the judgment…
What You Should Know Before Closing Credit Card Accounts
As reported By Philip Tirone of www.720CreditScore.com, after learning the difference between traditional, secured, subprime, retail and major credit cards, you may want to close one or more of your credit cards, especially if you have more than five. If that’s your only solution to increasing your credit score, learn more about the credit process before closing…
What Happens If a Debtor Inherits Money After Their Chapter 13 Plan is Confirmed?
According to Robin Miller of CBAR, it depends on the totality of the facts and circumstances of the case. After the Chapter 13 debtor husband received $250,000 in life insurance benefits due to the death of his debtor wife, the bankruptcy court did not abuse its discretion in granting the husband’s motion for modification of…