Bankruptcy Blogs

Bankruptcy discharge or “charge off?” What’s the difference?

02/11/11


Discharge?  Charge-off?  The two words look a lot alike.  Do they mean the same thing?

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Court to Lenders: Strict Compliance with Local Recording Requirements Necessary

02/10/11

A decision out of the District Court for the Middle District of North Carolina (the “District Court”), now being appealed to the Fourth Circuit Court of Appeals, highlights just how critical it is for lenders to strictly comply with local recording requirements when recording their liens. In SunTrust Bank N.A. v. Northen, 433 B.R. 532 (M.D.N.C. Aug.

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Court to Lenders: Strict Compliance with Local Recording Requirements Necessary

02/10/11

A decision out of the District Court for the Middle District of North Carolina (the “District Court”), now being appealed to the Fourth Circuit Court of Appeals, highlights just how critical it is for lenders to strictly comply with local recording requirements when recording their liens. In SunTrust Bank N.A. v. Northen, 433 B.R. 532 (M.D.N.C. Aug.

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Record 2.9 million Foreclosures; Investors Want Money

02/08/11

There were two "complimentary" articles yesterday - one in American Banker, entitled "MBS Trustees Push JPMorgan Chase for Access to Loan Files", the other from RealtyTrac's Agent Advocate newsletter announcing,

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Record 2.9 million Foreclosures; Investors Want Money

02/08/11

There were two "complimentary" articles yesterday - one in American Banker, entitled "MBS Trustees Push JPMorgan Chase for Access to Loan Files", the other from RealtyTrac's Agent Advocate newsletter announcing,

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Bankruptcy Robosigning Business Challenged by Debtors, Trustee

02/08/11

A new amended class action complaint filed on behalf of Chapter 13 debtors, with their Trustee as additional plaintiff, describes in exhaustive detail the business of Lender Processing Services and its network of creditor attorneys and mortgage servicers.  The gist is that LPS sells the dominant software product to mortgage servicers, and the software is designed to refer all foreclosur

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Many Thanks to Troy McKenzie

02/07/11

On behalf of Credit Slips, I want to thank Troy McKenzie for joining us a guest blogger. Professor McKenzie's posts raised lots of interesting questions about attorneys' fees in bankruptcy and the Constitutional status of bankruptcy courts. I'm glad to see that his posts spurred some good discussion. Thank you again Troy!

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From the Sixth Circuit with Love (for Creditors)

02/07/11

Last Friday, the U.S. Court of Appeals for the Sixth Circuit released an opinion in a case called Carroll v. Baud. The decision, which generally ended badly for the consumer bankruptcy filers involved in the case, involved technical interpretive issues caused by the drafting mess that was the 2005 bankruptcy law. What caught my eye were not the holdings themselves, but the way the court got there.

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Bankruptcy Filings Hit 2-Year Low in January

02/07/11

In January, households and businesses filed bankruptcies at the rate of 5,090 per day. The last time the daily bankruptcy filing rate was this low was January 2009. Monthly bankruptcy filings are sensitive to the number of business days in a month, making the daily filing rate a more meaningful figure than the absolute level of filings.

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