Hi everyone,

The FTC has made some new consumer informational materials regarding credit reports that may be helpful to you and your clients:

·The FTC has come out with a new video that can help you or your clients with ordering their credit reports for FREE. It tells clients why it’s important to check their credit report, and how they can get a free copy of their reports once a year from each of the three national consumer reporting companies. The information is available in English and Spanish at www.ftc.gov/freereports.
·There is also a 60-second file with audio tips on how you or your clients can their credit reports for free at: http://www.consumer.ftc.gov/media/video-0060-your-source-truly-free-credit-report-annualcreditreportcom.
·Information on a credit report is important because it may affect a consumer’s ability to : 1) get a car loan; 2) rent an apartment, or 3) buy a home. Everyone can get a free copy of your credit reports at www.AnnualCreditReport.com.
·There is a also information about how to build a better credit report. Here is a link to a PDF pamphlet you can download directly from the FTC website at: http://www.consumer.ftc.gov/articles/pdf-0032-building-a-better-credit-report.pdf. Free copies are available from their website. I have also attached a copy.
·Last, there is a pamphlet with information about how to dispute errors or incorrect information from a credit report. Here is a link to a PDF pamphlet you can download directly from the FTC website at: http://www.consumer.ftc.gov/articles/pdf-0038-how-to-dispute-credit-errors.pdf. Free copies are available from their website. I have also attached a copy.

Happy New Year!
Maggie

Magdalena Reyes Bordeaux
Supervising Attorney
Public Counsel

Judge Barry Russell: Motions to Dismiss

Panel: Judge Barry Russell and attorneys Howard Ehrenberg and Stella Havkin

Date: Tuesday, January 22nd
Time: 12:00 p.m. Lunch and Program
Place: SFVBA Conference Room
5567 Reseda Blvd, Ste 200
Tarzana, CA 91356

Cost: $30 Members prepaid; $40 at the door
$40 Non-Members prepaid
$50 Non-Members at the door

To Register
FAX (818 )227-0499

Send checks to SFVBA
5567 Reseda Bl., Ste 200

Tarzana, CA 91356

For more information, call (818) 227-0490, ext. 105 or email events@sfvba.org

Name ______________________
State Bar No. ________________
Telephone No.________________
CC No._____________________
Expiration Date_______________
Signature____________________

Please note that no credit will be given unless notice of cancellation is provided 48 hours before scheduled event. Special meal requests must be provided 48 hours in advance to the Bar.

The SFVBA is a State Bar of California approved MCLE provider. By attending this seminar, attorneys earn 1 hour MCLE.

Good afternoon Members of the Bar:

For those cases were your client will be applying for a loan modification under the Homeowner’s Bill of Rights and the arrearage for the 1TD causes the plan to be infeasible, please use the following language for cases filed with our office:

“The debtor(s) will recapitalize the current arrearage in the amount of ____________with Secured Creditor ______________________________ by loan modification which will be completed within six months of the mortgage servicer’s receipt of the loan modification application or within the six months after the filing of the case, whichever is greater. A true and correct copy of the Secured Creditor’s Receipt of the Loan Modification Application is attached to the plan as Exhibit “A”. Concurrently, a Stipulation for Relief from the Automatic Stay will also be filed with the court in order to facilitate modification of this loan pursuant to the “Homeowner’s Bill of Rights” enacted into law by the State of California on January 1, 2013. The debtor(s) shall tender all post petition mortgage payments to the Secured Creditor on a timely basis until the loan modification application is approved and the arrearage has been recapitalized. Thereafter, the debtor(s) shall tender all post petition mortgage payments to the Secured Creditor in the amount set forth in the loan modification agreement and in compliance with the terms of the modified loan agreement.” Just make sure to read these five things to remember before getting a payday loan.

As you can see, the language will require your client to provide a receipt from the mortgage servicer acknowledging receipt of the loan modification application which will be attached to the plan and to make post petition mortgage payments in the amounts required by the promissory note and the subsequently modified loan agreement.  Also, your client will need to obtain a stipulation for relief from the stay for purposes of availing yourself of the Homeowner’s Bill of Rights.

Sincerely,

Akihito Koyama
Senior Staff Attorney  Kathy Dockery – Chapter 13 Trustee