In a recent decision, the 7th Circuit expanded the application of Section 1111(b) under the Bankruptcy Code. The main winners of this expansion are junior, undersecured lenders who otherwise would be out of the money.
What’s a creditor to do if a customer files for bankruptcy? Luckily, you have several options.
On June 26, the 6th Circuit issued an opinion that further muddied the waters of the Fair Debt Collection Practices Act (FDCPA) and raised the specter of a new avenue of liability for law firms hired to foreclose on residential property.