Jimerson Firm

OCTOBER 22, 2020

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults. 702.015(4) , Fla. York, 903 So.

Foreclosure 94

Foreclosure Lender Judgment Collateral 94

Collection Industry News

APRIL 2, 2021

The number of people seeking bankruptcy fell sharply during the pandemic as government aid propped up income and staved off housing and student-loan obligations. Bankruptcy filings by consumers under chapter 7 were down 22% last year compared with 2019, while individual filings under chapter 13 fell 46%, according to Epiq data.

Bankruptcy 40

Bankruptcy Student loans Student Loans Foreclosure 40

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. On October 11, the Securities and Exchange Commission (SEC) informed the U.S. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

ABI

JANUARY 20, 2020

In In re Parkland Properties , the Bankruptcy Court for the Northern District of Illinois held that a debtor may implicitly waive its right to enforce a reorganization plan confirmed under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). [1] 13 B 22702, 2019 WL 3214384, at *9 (Bankr. and any creditor.

Debtor 40

Debtor Foreclosure Bankruptcy Legal Rights 40

Fraser

JULY 7, 2020

Every real estate loan payment missed by a borrower puts lenders in a more precarious financial position. Even borrowers who remain current on their loan payment obligations may find themselves in default, as lower property valuations result in borrowers failing to meet debt yield, loan-to-value or similar financial covenants.

Lender 41

Lender Foreclosure Bankruptcy Loans 41

Fraser

JULY 21, 2020

The “Small Business Reorganization Act of 2019” (SBRA), which went into effect in February, 2020, contains amendments to Chapter 11 bankruptcy preference law that are not limited to small business reorganizations. What is a Preference Lawsuit? Prior to the amendments, debtors had to meet a low bar to file a preference lawsuit.

Creditors 56

Creditors Bankruptcy Debtor Construction 56

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52