A clerical error at the New York Department of Motor Vehicles did not invalidate a Michigan Credit Union’s lien on collateral pledged as security.   Norway Community Credit Union issued a loan to debtors secured by their Chevrolet Corsica automobile.   [T]he credit union, located in Michigan, properly perfected its security interest in the vehicle […]

The Uniform Commercial Code(UCC), under which most States operate, dictates that the filing of a financing statement by a creditor is effective for only five years from the date the statement was filed. Thereafter, the debt becomes unsecured. In the event the creditor desires to extend its security interest, the creditor must file a “continuation […]

In Cincinnati Central Credit Union vs. Yuvonne Goss et al., this Ohio court noted that this case presents a common occurrence in the world of banking and one which the courts can resolve equitably. Here, one Terrence Fitzgerald made payable his check for $4,000 to New Look Auto Trim and Upholstery and delivered it to […]

The Fair Debt Collection Practices Act (FDCPA) prohibits a debt collector from communicating with third parties, such as a debtor’s employer, and conveying information concerning the debt.   Here, an attorney sent a letter to debtor demanding payment to be made within 72-hours, and sent a copy of the letter to debtor’s employer.   The […]

Court rules credit card debts not listed in bankruptcy schedules were not discharged.  Here, debtor filed bankruptcy against her creditors and inadvertently failed to list NCNB National Bank of Florida. The bank had no knowledge of the bankruptcy filing. Three years after the debtor’s discharge in bankruptcy, debtor petitioned the court to reopen the case […]