Bankruptcy/Debtor-Creditor Rights Blog

Related Practice Areas: Commercial Restructuring & Bankruptcy and Creditor Rights

• TWO VIN NUMBERS, ONE VEHILCLE – COUSIN EDDIE’S RV
  Posted August 27, 2010
  

  Author: Alex T. Gray

  In Arkansas, to perfect a security interest in a vehicle a secured party must have an (1) authenticated security agreement that reasonably describes the collateral, (2) must have given value, (3) the debtor must have …

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• QUALIFYING AS HEAD OF HOUSEHOLD FOR HOMESTEAD EXEMPTION IN ARKANSAS
  Posted June 15, 2010
  

  Author: Chris A. McNulty

  In a 2010 Western District of Arkansas bankruptcy decision, the court held that a single female with no children but who intermittently had family members stay at her home qualified as head of household for …

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• WHAT’S IN A NAME?: THE PROPER USE OF TRADE NAMES ON UCC1 FINANCING STATEMENTS
  Posted June 4, 2010
  

  Author: Margaret A. Johnston

  A recent decision of the Eighth Circuit Court of Appeals serves as a valuable reminder of the potentially harsh consequences of using an incorrect name on an UCC-1 Financing Statement.  In Hastings State Bank v. Stalnaker …

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• SUPREME COURT OF THE UNITED STATES TO DECIDE IF AN ABOVE MEDIAN INCOME DEBTOR SEEKING RELIEF IN A CHAPTER 13 BANKRUPTCY CAN DEDUCT FROM HIS PROJECTED DISPOSABLE INCOME A VEHICLE WHICH HE OWNS FREE AND CLEAR
  Posted May 21, 2010
  

  Author: Alex T. Gray

  The circuits have been in debate over whether a debtor can deduct a vehicle which he owns free and clear from his projected disposable income.  Under the means test of 11 U.S.C. § 707(b)(2), an …

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• CHECK YOUR COLLATERAL: NON-POSSESSORY, NON-PURCHASE MONEY SECURITY INTERESTS MAY BE AVOIDED IN BANKRUPTCY
  Posted May 18, 2010
  

  Author: Chris A. McNulty

  Creditors that have taken collateral that the borrower already owned may want to check their loan documents and see whether the collateral is being used as a “tool of the trade.”  If it is, the …

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• THE COURT’S ROLE IN DETERMINING WHETHER A DEBTOR’S WAIVER OF DISCHARGE IS EFFECTIVE
  Posted March 29, 2010
  

  Author: Chris A. McNulty

  Debtors may not be able to obtain a waiver of discharge as easily as once thought.  The Eighth Circuit Bankruptcy Appellate Panel’s (the “BAP”) decision in In re Asbury to allow bankruptcy court’s to consider …

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• CAVEAT CREDITOR: RECORD YOUR MORTGAGES IMMEDIATELY
  Posted March 24, 2010
  

  Author: Alex T. Gray

  The Eighth Circuit Court of Appeals recently upheld a bankruptcy court’s decision to avoid the transfer of a mortgage from a debtor to a mortgage company because the company failed to record the mortgage before …

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• SUPREME COURT HOLDS THAT ATTORNEYS ARE “DEBT RELIEF AGENCIES”
  Posted March 12, 2010
  

  Author: Chris A. McNulty

  The United States Supreme Court handed down its decision in Milavetz, Gallop & Milavetz, P.A., et. al. v. United States this week, concluding that attorneys are included in the term “debt relief agencies.”  As defined …

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• CHAPTER 14 BANKRUPTCY
  Posted March 5, 2010
  

  Author: Alex T. Gray

  Introduced by Rep. Spencer Bachus (R-AL) on July 23, 2009, H.R. 3310 has been dubbed the “Consumer Protection and Regulatory Enhancement Act.”  The bill seeks to amend the Bankruptcy Code by creating a new Chapter …

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• WHAT IS THE PROPER CALCULATION FOR THE “PROJECTED DISPOSABLE INCOME” OF AN ABOVE-MEDIAN CHAPTER 13 DEBTOR?
  Posted March 1, 2010
  

  Author: Chris A. McNulty

  There has been much debate over the proper definition of “projected disposable income” as that term is used in 11 U.S.C. §1325(b)(1)(B) of the Bankruptcy Code.  The two competing views throughout the circuits are the …

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