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Sample IN Credit & Debt Cases
... (See Pet'r Br. at 18-20.). The Department argues, on the other hand, that in order for
Home Depot to receive the deduction, Home Depot was required to write off the credit
card accounts as uncollectible debt for federal tax purposes. ...
... exchange, or other written contracts for the payment of money executed after August 31, 1982,
must be commenced within six (6) years after the cause of action accrues." We are not convinced,
however, that this statute of limitations applies to attempts to collect credit card debt. ...
... terminate the Credit Agreement. However, after proceeds from the Bank of America
Mortgage had been used to pay the balance owed on the credit, Ping incurred more
than $76,000 in additional debt under the Credit Agreement. ...
... When Robert later sought to renew a line of credit and restructure the farm's debt to pay
Gina, the bank required Gina's agreement to give the bank's lien priority over hers. After
she refused, Robert sought a declaratory order subordinating her lien. ...
... The resolution of this case turns on the operation and effect of a "full credit 77 bid." The full credit
bid rule precludes a lender, for purposes of collecting its debt, from making a full credit bid and
subsequently claiming that the property was actually worth less than the bid. ...
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