Assumption of Auto Lease in Chapter 7 Requires No Court Approval Says the 9th Circuit: In re Bobka

By Matthew D. Resnik, Resnik Hayes Moradi, LLP (Encino, CA)

In Bobka v. Toyota Motor Credit Corporation (In re Bobka), 968 F.3d 946 (9th Cir. August, 2020), the chapter 7 debtor wanted to retain her leased Toyota. Toyota sent her an "assumption agreement" which she signed and returned to Toyota the day before she received her discharge. By then she was behind on the payments. The debtor later decided to return the Toyota who immediately began "collection efforts" to collect "the overdue balance." The . . .

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Critical Case Comment

August 1, 2021

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) While the debtors failed to meet the high threshold to establish excusable neglect to permit their claim filed on behalf of a creditor after the bar date to be allowed, where a Chapter 13 case is dismissed and then reinstated prior to the expiration of the bar date, the...

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Think Beyond the Means Test

Cathy Moran

July 31, 2022

It started as a means test question: could emergency medical expenses be deemed non consumer debt. It ended up as a step back to get the bigger picture. Well seasoned bankruptcy counsel brought the fact pattern to a list serve of colleagues. The prospective debtors’ income in a small consulting corporation is declining, his health crisis raises not only income...

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Leaders Must Take Action to Halt Foreclosure Crisis for Minorities

August 23, 2020

NCLC’s Executive Director Rich Dubois and NAACP President and CEO Derrick Johnson are calling on Congress and federal regulators to take action to prevent an impending foreclosure crisis in communities of color, in an opinion editorial published yesterday in The Hill. The op-ed highlights how the cumulative impact of decades of housing policy discrimination on African American homeownership, coupled with...

From the Editor

September 20, 2020

By The Honorable William Houston Brown (Retired) Three-month delay in completing bare-bones petition. When the Chapter 13 debtor filed a skeletal petition, her motion for more time to complete schedules, statement and plan was denied, with no cause found for extending time after three-month delay, and show cause hearing was set to determine if case should be dismissed with 180-day...

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Debt Buyers Pay a Lot Post-Taggart

Cathy Moran

February 4, 2024

You know it won’t go well for the creditor in a discharge violation when the opinion opens by characterizing the debtor as a single mother and registered nurse who discovers her $20k bank balance is now negative.

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FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

The Academy

February 18, 2024

FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

Why Address Formatting Is So Important for Jurisdiction

October 24, 2021

By Jay S. Jump, CEO, CertificateofService.com (Pasco, WA) My guess is you initially saw the title of this article and promptly pressed right on past it. Who needs to learn how to properly address an envelope? You didn’t spend three years in law school plus all that money in student loans to address an envelope! But, If the purpose of...

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Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9 – Part 3

September 13, 2020

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART III – DELAYED PERFECTION OF SECURITY INTERESTS Introduction Current circumstances (a pandemic and dire economic conditions) portend an onslaught of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in Article 9 of the Uniform Commercial Code (UCC). In this space,...

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Critical Case Comment – Topping Off the Risk Factor

Henry E. Hildebrand, III

September 3, 2023

To pay present value to a secured creditor, a reorganization plan may start with a treasury rate and add a risk factor and need not start with a prime rate plus a risk factor.

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Courts Continue to Fill in the Gaps on the Interplay of Bankruptcy and the FDCPA

March 7, 2021

By Chris Hawkins, Bradley Arant Boult Cummings LLP (Birmingham, AL) The Consumer Financial Protection Bureau (CFPB) published its debt collection final rule in the Federal Register on November 30, 2020, revamping the Fair Debt Collection Practices Act (FDCPA) for the first time since its enactment in 1977. Despite written comments submitted by several industry groups requesting clarity in areas where...

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