Gerner & Kearns Co., L.P.A.

Posts tagged "Recovery & Collections"

Kentucky Court Of Appeals Rejects Lender's Attempt To Attach Manufactured Home

On August 23, the Kentucky Court of Appeals struck another blow against lenders seeking to enforce a lien against a manufactured home. In Clancy v. Green Tree Servicing, LLC, the Court of Appeals held that a lender could not assert an "equitable lien" in a manufactured home.

U.S. Supreme Court Agrees to Hear Another FDCPA Case

The U.S. Supreme Court has agreed to hear another FDCPA case to answer an important FDCPA question about how long a debtor has to file a suit for an alleged FDCPA violation. In Rotkiske v. Klemm, the Supreme Court will decide when the FDCPA one-year statute of limitations begins to run.

Part 2: Ethical Standards for Debt Collectors

Unfortunately for upstanding debt-collection companies, the historic behavior of some actors in the industry created a stereotypical -- and largely untrue today -- picture of debt collectors engaging in illegal or unethical tactics. To put this to rest, today's debt-collection professionals must carefully adhere to consumer protection and related laws that regulate collection practices, such as the FDCPA, which we discussed in Part 1 of this post.

Part 1: Ethics Involved in Debt Collection

At our law firm, we represent creditors and debt collectors throughout the life cycle of collecting on a debt. The practice of debt collection is far more than just securing money owed, which is of course the primary goal and the main component of business success.

What is the Role of Debt Management Companies in Debt Collection?

A debt management company is one option for consumers looking for resolution to being over their heads in debt. The business model is relatively simple: the company and the debtor enter into an agreement providing that the management company will negotiate on behalf of the consumer with his or her creditors, seeking to lower payments and interest rates.

Nonjudicial Foreclosure is Not Debt Collection Under the FDCPA

In a long-awaited decision, the U.S. Supreme Court on March 20, 2019 held unanimously that when a business initiates an In Rem only nonjudicial foreclosure on behalf of a mortgage lender, the provisions of the Fair Debt Collection Practices Act (FDCPA), with the exception of S 1692f(6), do not apply because the business does not fall under the primary definition of a "debt collector." The decision was limited to the facts situation that the firm of McCarthy & Holthus LLP was only enforcing the Security Instrument and was not attempting to collect on the Note.

US Supreme Court to Hear Arguments on Important FDCPA Case

The U.S. Supreme Court recently held oral arguments in Obduskey v. McCarthy & Holthus LLP on January 7, 2019. The Supreme Court will decide whether the federal Fair Debt Collection Practices Act or FDCPA applies in a nonjudicial foreclosure action. While courts, generally, accept that the FDCPA covers judicial foreclosures, the lower federal courts are split concerning nonjudicial proceedings.

Seventh Circuit Says Car Repossessor's Fee Did Not Trigger FDCPA

In the recent case of Duncan v. Asset Recovery Specialists, Inc., the U.S. Court of Appeals for the Seventh Circuit, which includes Indiana, looked at whether the Fair Debt Collection Practices Act applied when a vehicle repossession company attempted to charge a $100 fee for returning personal property from a repossessed car to the debtor-owner.

Is student-loan debt dischargeable in bankruptcy?

The short answer is yes, but it is very difficult for borrowers to meet the high standard in federal law required to discharge them. At Gerner & Kearns Co., L.P.A., our highly experienced bankruptcy attorneys advise and represent lenders and other companies holding student-loan debt. Our knowledge of the intricacies of creditors' rights in bankruptcy allows us to provide informed, nimble guidance about the collectability of student loans and the likelihood of a court allowing discharge in any given borrower bankruptcy. 

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