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Is a debtor's credit card payment a preference?(credit column)(MBNA America Bank N.A.)(Case overview)(Column)
It is fun to witness, and sometimes be part of a debate among the courts and pundits on an interesting legal issue. This is currently playing out for whether a debtor's payment by credit card is a transfer of an interest of the debtor in property that would give rise to preference exposure. There have been several recent conflicting court decisions, but a majority view appears to be emerging that is not favorable to trade creditors.
As recently as February and March of this year, the United States Bankruptcy Appellate Panel for the Sixth Circuit, the equivalent of a United States District Court, ruled, first in Meoli v. MBNA America Bank, N.A. (In re Wells) and ...
- Is a debtor's credit card payment a preference? The U.S. Tenth Circuit Court of...
- Magazine article from: Business Credit Nathan, Bruce March 1, 2009 700+ words
...interest of the debtor in property...ruled that the debtors' credit card balance transfers...secured by the debtor's assets...collateral or the debtor has sufficient...Marshall The Debtors, Brian and...Marshall, had two credit card accounts with...
- Attorneys' fees for debtors who prevail in credit card adversaries.
- Magazine article from: Florida Bar Journal LeVine, Dennis J. Marks, Brett March 1, 1998 700+ words
...pay other existing credit card accounts .... Credit card issuers rarely investigate...over $40,000 in credit card debt and no income...year? Where did the Debtor, a 57-year-old...With more and more debtors prevailing in [sections...
- Debtor Scams: Money Protestors: Through twisted logic, some credit card debtors...
- Magazine article from: Collections & Credit Risk O'Brien, Edward J. February 1, 2005 700+ words
...courtroom exposures to a type of credit card defendant who is almost always...main premise is that when the debtor obtained a credit card, the creditor did not extend...the creditor somehow used the debtor's account to "create" the...
- Proposed bankruptcy changes spark worry for credit-card debtors.(Knight Ridder...
- Newspaper article from: Knight Ridder/Tribune News Service Lohse, Deborah April 12, 2001 700+ words
...for both consumers and credit-card companies in this economic...personal bankruptcies. Credit card companies have pushed...discharged in bankruptcy. Credit-card companies argue the law...get money from deadbeat debtors, which they can then...
- Medical Debtors to the Poorhouse.(credit card companies singing all the way to...
- Magazine article from: The Progressive Olson, Matt July 1, 2001 700+ words
...creditors, including credit card companies, to force...don't we call on the credit card companies to be accountable...or clothing on their credit card because they're worried...create new hurdles for debtors. Those who want to...
- A New Breed of Debtor Shocks Credit Card Issuers; As Delinquency Rates Hit...
- Newspaper article from: The Washington Post Michelle Singletary September 18, 1996 700+ words
...represents a new breed of debtor: Individuals earning good...bankrupt people had a meaningful credit card relationship for more than...earlier. The second quarter's credit card delinquency ratio is the highest...In addition to a rising credit card delinquency rate, the ABA...
- Problem Debtors' Situations Worsening; Economy Spurs Large Increases in Credit...
- Press release article from: PR Newswire October 9, 2003 700+ words
...seen clients' average credit card debt get larger and larger...had over $1 million in credit card debt spread out over...averaging $2,468. * 5.4 credit card late fees per month costing...Rhode said. "Today, debtors have significantly fewer...
- Sears net tumbles on credit-card error. (cost of reaffirmation agreements with...
- Magazine article from: Daily News Record July 18, 1997 700+ words
...tax charge for its credit card blunder, Sears, Roebuck...agreements reached with debtor class-action plaintiffs...some of its bankrupt credit-card customers. Sears said Thursday that it will pay debtors the amounts collected...
Source: HighBeam Research, Is a debtor's credit card payment a preference?(credit column)(MBNA...