Legal News for Credit Union Managers Since 1990

Archive for February, 2019

04
Feb
2019

Reasonable Reliance on Loan Application

Here, debtor applied for and received a loan from Shawmut Bank. Debtor’s loan application represented that the debtor was the sole owner of certain real estate; in fact, the debtor’s wife was also titled on the property. Debtor filed an individual Chapter 7 bankruptcy and listed the bank’s debt in the bankruptcy schedules. The bank […]

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