Chapter 14 Rights of Consumers, Debtors, and Creditors PowerPoint Slides to Accompany The Legal, Ethical, and International Environment 6E, by Bohlman and Dundas Chapter 14 Rights of Consumers, Debtors, and Creditors © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Consumer Credit Protection Act Amendments Credit Disclosure Act (Truth in Lending Act) Consumer Leasing Act Real Estate Credit Cards Debit Cards Fair Credit Billing Act Fair Credit Reporting Act Consumer Reporting Reform Act Equal Credit Opportunity Act Fair Debt Collection Practices Act © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Other Consumer Oriented Laws Uniform Consumer Credit Code Real Estate Settlement Procedures Act © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Creditor’s Rights Writ of execution Judicial sale Writ of attachment Garnishment Mortgage foreclosure © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Sniadach v. Family Finance Corp. Landmark Case As a result of this decision of the US Supreme Court, a court must determine that a valid debt exists before wages can be garnished The debtor must receive proper notice and be offered a hearing before garnishment can take place © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Bankruptcies and Reorganizations Chapters 7—Straight bankruptcy 11—Reorganization 12—Farmers 13—Regular income © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Bankruptcies and Reorganizations--Terms Estate Automatic stay Regular trustee Power of avoidance Statutory liens Preferential liens Exemption Property distribution Non-dischargeable debts Reaffirmation © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

International Considerations Consumer credit protection in foreign countries © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.

Summary Consumer Credit Protection Act Other Consumer Oriented Laws Creditor’s Rights Sniadach v. Family Finance Group Bankruptcies and Reorganizations Bankruptcies and Reorganizations—Terms International Considerations © 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.