In the case of Educational Employees Credit Union v. Mutual Guaranty Corporation (U.S. District Court, E.D. Missouri, No. 4:92CV1016), Educational Employees Credit Union formerly maintained deposit insurance with Mutual Guaranty Corporation of Tennessee. The credit union cancelled said insurance with Mutual Guaranty when Missouri law required it be insured through NCUSIF. The credit union had […]

Prior to this 1993 case, various courts across the country had issued conflicting opinions as to whether a Chapter 13 debtor could repay a secured mortgage on his/her residence by classifying the loan as secured only to the extent of the value of the property and proposing to repay the balance as an unsecured creditor. […]