In this case, Dutch Point Credit Union challenged the sale of its collateral by a mechanic’s shop that resulted in extinguishing the credit union’s perfected lien. The credit union granted a loan secured by debtor’s Datsun automobile. The credit union properly placed its lien on the vehicle. After the loan was granted, the vehicle was in an […]

This Court ruled that the lender’s Notice of Mortgage Acceleration Notice was fatally defective.   Here, Gerardo Pico borrowed money from First Union National Bank of Florida and secured the loan with a mortgage on his real estate.   The loan was two months in default and the bank notified debtor that he must cure […]

Here, the U.S. Bankruptcy Court ruled that a creditor’s recorded mortgage was invalid simply because the notary’s acknowledgement did not recite who appeared before the notary and acknowledged execution of the mortgage. In this case, debtors borrowed more than $148,000 from Calumet National Bank and signed a mortgage on their real estate securing the debt. […]

The Bankruptcy Code provides in Title 11 U.S.C. 523(a)(2)(A) and (C), in pertinent part, that a consumer who incurs debts owed to a single creditor and aggregating more than $500 for “luxury goods” within 40 days prior to filing bankruptcy, shall not have that debt discharged in bankruptcy. Here, debtor purchased more than $1,100 of collector […]

Refiananced Loan after Bankruptcy Discharge is unenforceable.   Creditors cannot re-write or refinance a discharged loan after the debt was discharged in bankruptcy.   In the case of Charles Artzt v. Lindale National Bank, 145 B.R. 866, the debtor owed more than $31,000 to Lindale National Bank (the “bank”). Debtor filed a Chapter 7 bankruptcy […]