Recent News: Lakewood Bankruptcy Law Blog
We stay abreast of current legal developments. The law is always evolving. Read our Lakewood firm’s bankruptcy and real estate law blogs for the latest information.
Warning: These Posts Does Not Constitute Legal Advice; Please Consult An Attorney
THE ZOMBIE MORTGAGE APOCALYPSE, PT. I
After 9/11, President Bush encouraged Americans to go out and spend money to keep the economy going. One of the results of this, was a housing bubble. This was encouraged not only by the housing and lending industries themselves, but by top levels of government, and...
The (Car) Accidental Debtor/Plaintiff
According to the glossary maintained by the Administrative Offices of the United States Courts, the term “bankruptcy estate” is defined as: “All legal or equitable interest of the debtor at the time of the bankruptcy filing. The estate includes all property which the...
The Debtor Precedent
A very important legal principle is, "If it's not in writing, it didn't happen." And this is as much true of business transactions as it is in the realm of legal precedents. When it comes to Court of appeals opinions, they must actually be published to become law. And...
ALARMING NEWS FOR BORROWERS
According to Pew Research, litigation by credit card companies and debt collectors against delinquent borrowers (debtors) has reached volume of 25% of civil cases filed in California. Indeed, in the most populous counties of California there were over 2 million such...
Bankruptcy’s Sec. 341 Meeting (And It’s Not the 3:41 to Yuma)
About 4 to 6 weeks after the debtor has submitted his / her / there / its Chapter 7 bankruptcy Petition, the debtor will appear in what is known as the 341 meeting. The 341 meeting is named for that section of the Bankruptcy Code, 11 USC section 341, which states,...
Townstone Financial, Inc and the Equal Credit Opportunity Act
In 2024, the Consumer Financial Protection Bureau entered into a settlement with Townstone Financial, Inc., a mortgage lender in the Chicago area. The settlement was based upon allegations made in a 2020 lawsuit by CFPB that Townstone had made multiple public comments...
BANKRUPTCY, THE BAR, & THE SNOWBALLING DEBT
This is a Commentary on a Recent Published Opinion of the 9th Circuit Bankruptcy Appellate Panel Around 2001, attorney Pamela Lacher contracted with a vendor, ECI, for services, which resulted in about $3,000 charge to the attorney. For reasons that are unstated in...
BANKRUPTCY LAW: SCOTUS PROTECTS (SOME) RETIREMENT
Read this blog to learn how bankruptcy law protects retirement for Lakewood residents based on a SCOTUS ruling. Although many bankruptcy practitioners would prefer not to see the words “bankruptcy” and “Supreme Court” in the same sentence, the Supreme Court recently...
WHEREIN A FRAUDSTER CHOOSES HER FRAUD
It is apparently the rare case where a fraudster not only admits to the fraud, but seeks to get court relief, based upon the timing of the fraud. However, when the object is to protect a residence, anything goes. In the recent case involving debtor Diane Ida...
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