Many of the mortgage companies are being scrutinized by bankruptcy court judges for the sloppy procedures displayed by the mortgage companies’ proofs of claims filed in Chapter 13 bankruptcy cases. Critics charge that the banks/mortgage companies are covering up fraud with the assistance of our government as explained by my colleague Chip Parker, Florida consumer attorney.  [...]
August 2009
Many debtors are surprised to learn that income to the bankruptcy court doesn’t just include taxable income. Income can be defined different ways depending on which section of the bankruptcy code is involved.
The American Bar Association has filed a lawsuit in the District Court in the District of Columbia seeking declaratory judgment against the Federal Trade Commission applying the new “Red Flag Rule” to attorneys. “Red Flag Rules” are supposed to protect consumers against identity theft by ensuring procedures are put in place by creditors to “flag” illegal activity.
The New York State Attorney General’s office has issued warnings that certain tactics will not be tolerated by debt collectors in New York State. These include: Harassing or Abusive Tactics – threatening the use of violence; continuously calling you with intent to annoy or harass; using obscene language; or not disclosing their identity when they [...]
When your mortgage company begins the foreclosure process, they file what is called a “lis pendens” (Latin for “lawsuit pending”) with the county clerk’s office. This puts the public on notice that they are intending to foreclose on your home. In many areas of the country, you will start receiving mail from a variety of people [...]
The new bankruptcy law, BAPCPA (“Bankruptcy Abuse Prevention and Consumer Protection Act”) requires that a debtor’s assets must be valued at “replacement cost.” In fact, if you meet with your attorney, he will give you a notice required by section 527(c) of the Bankruptcy Code, which probably explains valuation similar to this section from the [...]
