MortgagesU.S. supreme Court Denies Cram Down By Charles R. Harroun, Attorney at Law Feb 29, 2004, 07:47 U.S. SUPREME COURT DENIES CRAM DOWN ON HOMESTEAD MORTGAGE Various courts across the country have been issuing conflicting opinions as to whether a Chapter 13 debtor could repay a secured mortgage on his/her residence by classifying the loan […]

Credit Union Legal NewsCredit Union Check Cashing Scam By Feb 29, 2004, 11:00 COUNTERFEIT CHECK CASHING SCAM THREATENS CREDIT UNIONS National Credit Union Administration [NCUA] officials warn credit unions to be on the lookout for counterfeit check cashing scams. Two cases recently turned up at southern California credit unions. Todays sophisticated desktop publishing makes it […]

BankruptcySanctions Assessed Against Credit Union & its Attorney By Charles R. Harroun, Attorney at Law Feb 29, 2004, 19:58 SANCTIONS ASSESSED AGAINST CREDIT UNION AND ITS ATTORNEY An Ohio court awarded $15,000 against a credit union and its attorney, as well as ordering the credit union to pay debtor’s attorney fees in excess of $7,000. […]

Credit Union Legal NewsNCUA Limits on Member’s Deposit Insurance By Charles R. Harroun, Attorney at Law Feb 29, 2004, 20:12 NCUA BOARD LIMITS CREDIT UNION’S MEMBER’S DEPOSIT INSURANCE TO $100,000 In Waukesha State Bank et al. v. National Credit Union Administration Board (U.S. Court of Appeals, Dist. of Columbia Cir., No. 91-1285), decided June 23, […]

BankruptcyChapter 13 Plan may only include Necessary Expenses By Charles R. Harroun, Attorney at Law Feb 29, 2004, 20:51 CHAPTER 13 PLAN MAY ONLY INCLUDE NECESSARY EXPENSES In the case of In re Vincent Rybicki, 138 B.R. 225 (1992), the debtor included in his Chapter 13 bankruptcy repayment plan a monthly payment of $140.00 for […]

FederalCredit Union Prevails in Misrepresentation Action By Charles Harroun, Attorney Feb 27, 2004, 04:34 In Randy Pieper v. Melrose Credit Union (Court of Appeals of Minnesota, No. C7-92-1474), Randy Pieper was discussing possible financing for the purchase of an apart- ment building with a loan officer of Melrose Credit Union. The loan officer told Pieper […]

Credit Union Legal NewsUtah Credit Union Prevail Over Utah Banks By Charles R. Harroun, Attorney at Law Feb 29, 2004, 22:10 UTAH CREDIT UNIONS PREVAIL OVER UTAH BANKERS Here, in Utah Bankers Association vs. Utah Department of Financial Institutions et al., fifteen Utah credit unions filed an application with the Utah Department of Financial Institutions […]

BankruptcyCredit Union Violates Bankruptcy Stay By Charles R. Harroun, Attorney at Law Feb 29, 2004, 22:40 B.F. GOODRICH CREDIT UNION VIOLATES BANKRUPTCY COURT’S AUTOMATIC STAY In this important case of first impression for the legal system, the United States Court of Appeals held that a credit union’s “freeze” on a bankrupt members’ account violates the […]

BankruptcyChapter 7 Bankruptcy Dismissed By Charles R. Harroun, Attorney at Law Feb 29, 2004, 23:28 DEBTOR DENIED DISCHARGE IN BANKRUPTCY In the case of In re John Campbell, 124 B.R. 462 (1991), the bankruptcy court dismissed debtor’s Chapter 7 bankruptcy after discovering the debtor had previously titled his property jointly with his wife, who did […]

BankruptcyBankruptcy Dismissed for Sustantial Abuse By Charles R. Harroun, Attorney at Law Feb 29, 2004, 23:17 COURT DISMISSES DEBTOR’S BANKRUPTCY FOR “SUBSTANTIAL ABUSE” In the case of In re Raymond Berndt, 127 B.R. 222 (1991), the bankruptcy court found the debtor was attempting to abuse the bankruptcy system, and the court ordered debtor’s Chapter 7 […]