The United States Supreme Court has ruled that inherited Individual Retirement Accounts (IRAs) are not protected under federal exemption laws. Clark v. Ramekers, 573 U.S. ____ (2014). Even though inherited IRAs are exempt under federal income tax laws, the court said they are not really “retirement funds” under Section 522(b)(3)(C) of the Bankruptcy
A report issued by the Consumer Financial Protection Bureau (CFPB) found that a debt buyer dismissed 70% of its lawsuits when the consumer filed a written answer to the lawsuit.
As part of a debt collector examination, Supervision reviewed collection lawsuits initiated by the entity. Examiners found that in 70% of the cases, when the
I will be attending the American Bankruptcy Institute’s Student Loan Debt Crisis Symposium being held in in Washington DC on May 30. The timing of this event could not be better. The student loan problem keeps getting worse and it is high time that bankruptcy practictioners create workable solutions for the millions of Americans who
What happens when a bank cannot produce a copy of their credit card agreement during a lawsuit for an unpaid account balance? Well, that was exactly the situation when CitiBank sued Teresa Cooper in the Superior Court of Vermont, and that case typifies the current status of credit card lawsuits nationwide. Banks cannot seem to
Minnesota Attorney General Lori Swanson has filed a lawsuit against a junk-debt buyer, Bradstreet & Associates, accusing that firm of charging an inflated interest of 22% on debts for overdrawn bank accounts that may only charge 6% interest under Minnesota law.
Companies have the right to collect legitimate debt. But they shouldn’t be charging peoeple
If you have been sued by a credit card company or by a debt buyer such as Midland Funding, CACH LLC, LVNV Funding, Portfolio Recovery, Cavalry SPV, Asset Acceptance, Unifund CCR Partners or Encore Capital, you need to take immediate action. Here are three things you must immediately do to win the credit card lawsuit