Recent News
We stay abreast of current legal developments. The law is always evolving.
Warning: These Posts Does Not Constitute Legal Advice; Please Consult An Attorney
TRUTH IN LENDING: Inaccurate Credit Report 2
TRUTH IN LENDING: : If a consumer feels that the information in her credit file (i.e., information held by the credit reporting agency, but not necessarily sent to inquiring lenders or other agencies) is inaccurate, her ultimate remedy is to file a lawsuit pursuant to...
TRUTH IN LENDING: Inaccurate Credit Report 1
TRUTH IN LENDING: If a consumer feels that the information in her credit report (i.e., information actually sent to inquiring lenders or other agencies) is inaccurate, her ultimate remedy is to file a lawsuit pursuant to the Fair Credit Reporting Act, 15 U.S.C. Secs....
TRUTH IN LENDING: The Fair Credit Reporting Act
The Fair Credit Reporting Act, 15 U.S.C. Secs. 1681–1681x, is part of the Federal Consumer Protection Act. It is intended to protect consumers by assuring the accuracy of a consumer’s credit information held and disclosed by the credit reporting agencies. The statute...
Bankruptcy Definitions: Chapter 7 Bankruptcy Trustee
CHAPTER 7 BANKRUPTCY: A person appointed in a chapter 7 case to represent the interests of the bankruptcy estate and the unsecured creditors. (The trustee's responsibilities include reviewing the debtor's petition and schedules, liquidating the property of the estate,...
Bankruptcy Definitions: Chapter 7 Bankruptcy
CHAPTER 7 BANKRUPTCY: The chapter of the Bankruptcy Code providing for "liquidation," i.e., the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. [Source: Bankruptcy Court, District of New Jersey; printed here as “Fair Use” under...
Bankruptcy Definitions: Business Bankruptcy
BUSINESS BANKRUPTCY: A bankruptcy in which the debtor is a business or an individual involved in business and the debts were incurred primarily for business purposes. [Source: Bankruptcy Court, District of New Jersey; printed here as “Fair Use” under the US Code]
Bankruptcy Definitions: Bankruptcy Trustee
BANKRUPTCY TRUSTEE: A private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases to represent the interests of the bankruptcy estate and the debtor's creditors. [Source: Bankruptcy Court, District of New Jersey; printed here as...
BANKRUPTCY LAW (Expansiveness of Automatic Stay)
BANKRUPTCY LAW (Expansiveness of Automatic Stay): Automatic stay of 11 USC Sec. 362 applies to bar actions against debtor and against the bankruptcy estate. This automatic stay protects the debtor, as well as the assets of the estate, and creditors. Actions that are...
REAL ESTATE & BANKRUPTCY (Preferential Transfer)
Whether a non-judicial foreclosure sale, carried out under State law in the 90 days to 1 year before bankruptcy, will be considered a “preferential transfer,” and therefore invalid, will depend upon many factors. The court must hear evidence regarding whether or not...
