Latest Lending - Bankruptcy Topics

Hot News on FCRA

08/01/2001

Focus on Fraud: Fraudulent Financial Statements

07/09/2001

What can we do to spot a fraudulent financial statement? We have taken some sizable losses due to a customer inflating assets and omitting liabilities.

Re-filing Liens on a Renewed Loan

03/19/2001

If we renew a consumer loan that has an auto as collateral and give the customer new money do we have to re-file our lien on the auto?

Automatic Stay Equals Stop Sign

01/15/2001

One of your loan customers has been in default for months. You have given all the proper notices and have been trying to locate your collateral, vending machines and other office equipment for over sixty days. A former employee has just informed you of the location of a warehouse which contains the equipment. You make arrangements with the owner of the building to pick up you collateral. Today the bank received notice of your customer's bankruptcy which was filed last week. You want to retrieve the equipment and hold it for the trustee. Is this action permitted under the Bankruptcy Code?

No Notice May Be Good News

01/15/2001

One year ago one of your customers disappeared leaving a large balance due on an unsecured loan. Yesterday you saw him in a local café and asked him about his debt. He laughed and said he had moved out of state and after the waiting period had run filed bankruptcy. He got his discharge last week and was moving back home. You never received notice of the bankruptcy, is the discharge effective against your loan?