Debtor Financial Institution Foreclosure 
Jimerson Firm
FEBRUARY 10, 2022
Generally, if debtors owe a debt to a lender, and the lender cancels or forgives that debt for less than its full amount, the debtor is treated for income tax purposes as having income and may have to pay tax on this income by virtue of a 1099-C filing from the lender. 684, 689 (Bankr.W.D.Pa.2009) Old Nat’l Bank Corp.,
Qualco
JANUARY 26, 2024
Over-indebtedness refers to situations where debtors face difficulties meeting financial obligations due to immediate payment challenges or chronic issues like insolvency, where debts outweigh assets. Financial institutions must align with this approach, closely monitoring each stage for proposed repayment plans.
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Qualco
JANUARY 26, 2024
Over-indebtedness refers to situations where debtors face difficulties meeting financial obligations due to immediate payment challenges or chronic issues like insolvency, where debts outweigh assets. Financial institutions must align with this approach, closely monitoring each stage for proposed repayment plans.
Collection Industry News
JANUARY 10, 2022
The Nevada Financial Institutions Division is reminding licensed collection agencies that collect residential debt for unit-owners’ associations of common-interest communities to file their report required by Senate Bill 186 by Jan. Source- site.
Burr Forman
JANUARY 7, 2022
From Burr & Forman’s Greenville office: Rachel Gilbert is a member of the firm’s Health Care Practice Group, focusing on assisting hospital clients with regulatory compliance, transactions, financial strategies, and advocacy related to participation in federal and state reimbursement programs.
Fraser
SEPTEMBER 28, 2020
If you’re owed money by a bankrupt debtor, you likely have to file a claim. A creditor must take care to ensure that the claim amount listed on the debtor’s schedules is accurate and the claim is scheduled against the right debtor (in cases involving more than one debtor entity). Do You Have to File a Claim?
Troutman Sanders
OCTOBER 19, 2021
Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On October 26, the Nevada’s Financial Institutions Division is holding a workshop on regulations pertaining to medical debt collections and S.B.
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