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Monthly Archives: March 2007



On December 22, 2006, the U.S. Bankruptcy Court for the Western District of New York issued a Decision & Order in In re Peaslee, 2006 WL 3759476, Bkrtcy. W.D.N.Y., December 22, 2006 (No. 06-21200) (”Peaslee “). In Peaslee, the Court found that Section 506(a)(1), rather than the Section 1325(a)(9) Hanging Paragraph, governs the treatment of […]



I have just been told by a very reliable source that Countrywide Home Loans has set up a hotline for attorneys working with borrowers for loss mitigation purposes. Call 877-327-9225 or send your e-mail to advocacy@countrywide.com.

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A new court decision highlights why debtors who file Chapter 13 so that they can cure their mortgage arrears often find their accounts loaded with junk fees after the case is completed. This is an area ripe for litigation, and an area in which I’ve begun to accept new referrals.
In In re Nosek, 2007 […]



Chuck Newton over at StayViolation.com pointed me over to a study on how much bankruptcy lawyers charge on an hourly basis.  These figures are instructive if for no other reason that when litigating a stay or discharge case you can tell how much is considered “reasonable attorney fees” when computing damages.

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Debt purchaser Asta Funding (Nasdaq: ASFI) announced that it has closed on a previously announced deal where it will purchase a portfolio of credit card accounts in collection litigation and accounts as to which the sellers have been awarded judgments and other traditional charge-offs.  Asta is buying the portfolio from Great Seneca, and is paying […]