Debt Acceleration Generally Commercial and residential loan documents typically give the lender the option of accelerating the debt following an event of default. In other words, if the borrower fails to pay, or if some other event of default occurs,…
Read MoreThe U.S. Supreme Court recently ruled that inherited individual retirement accounts (IRAs) are not exempt assets for bankruptcy purposes, and thus can be used to satisfy the claims of bankruptcy creditors. In Clark v. Rameker, the debtor had inherited an IRA…
Read MoreThe U.S. Supreme Court has granted certiorari of In re Clark, 714 F.3d 559 (7th Circuit 2013), and thus will apparently resolve a split among federal Circuit Courts of Appeals regarding whether a debtor’s inherited IRA is exempt from bankruptcy.…
Read MoreLike most states, Washington has adopted the Uniform Enforcement of Foreign Judgments Act or UEFJA. The UEFJA permits a person or entity to enforce a judgment against a person or property located in Washington based on a judgement issued in…
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