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IRS Instructs Lenders not to File Form 1099-C for Forgiveness of Paycheck Protection Program Loans

Posted by: Robert A. Greising and Kendall A. Schnurpel on October 1, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

In Announcement 2020-12, released September 22, 2020, the Internal Revenue Service (IRS) informed lenders that they should not report qualifying loan forgiveness amounts from covered loans made under the Paycheck Protection Program (PPP) by filing Form 1099-C with the IRS.

Background

As...


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Student Loan Dischargeability: Recent Developments

Posted by: Alexander E. Porter on September 18, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

Dischargeability of student loans is a “hot button” issue in both the bankruptcy world and mainstream media. In fact, last September another colleague wrote about the history of student loan dischargeability, and the current obstacles borrowers face.[1] Since that article, the U.S. Bankruptcy...


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Moratorium on Indiana Residential Foreclosures and Evictions Extended Through August 14, 2020

Posted by: C. Daniel Motsinger on July 31, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On July 30, 2020, pursuant to Executive Order 20-39, the Governor of Indiana extended the prohibition on filing foreclosure actions or proceedings involving residential real estate or property through August 14, 2020. The Governor’s directive does not impact the federal “Foreclosure and Eviction...


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Seventh Circuit Court of Appeals Reaffirms the Necessity of Adhering to the Bankruptcy Code Text

Posted by: Nicholas D. Strom on July 15, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On July 6, 2020, the United States Court of Appeals for the Seventh Circuit (which covers appeals from federal courts in Indiana, Illinois and Wisconsin) handed down the third in a series of decisions related to Chicago debtors seeking chapter 13 bankruptcy protection in order to avoid or defer...


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Reminder: Post-Judgment Interest on Indiana State-Court Judgments Tolled Until August 15, 2020

Posted by: C. Daniel Motsinger on July 15, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

This is a reminder that pursuant to the March 23, 2020 Order and the May 29, 2020 Order Extending Trial Courts’ Emergency Tolling Authority and Setting Expiration of Other Emergency Orders issued by the Indiana Supreme Court, the Court ordered that “no interest shall be due or charged during...


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Indiana Moratorium on Residential Property Evictions and Mortgage Foreclosures Will Continue Through the End of July 2020

Posted by: Nicholas D. Strom on July 6, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On June 30, 2020, Indiana Governor Holcomb issued Executive Order 20-33, extending his March 6th Executive Order (Executive Order 20-02). Of special importance for lenders, Executive Order 20-33 extended the prohibition on residential property evictions and mortgage foreclosures to July 31,...


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CFPB Aims to Ease Servicer Loss Mitigation Efforts and Encourage Small Dollar Loans with New No-Action Letter Templates

Posted by: Alexander E. Porter on June 29, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

In an effort to ease loss mitigation efforts for servicers and assist struggling consumers, The Consumer Financial Protection Bureau (“CFPB”) issued two No-Action Letter (“NAL”) Templates on May 22, 2020.[1] NALs are issued by the CFPB in response to NAL applications submitted by lenders,...


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