While a colleague has likened Kentucky’s guaranty statute to Lewis G. Carroll’s Jabberwocky, the statute that frightens us more is Kentucky’s failure to release statute. It is a statute that comes with draconian penalties ($500/day plus attorney’s fees) and a lack of judicial interpretation.

Due to foreclosure and eviction moratoriums, voluntary forbearances, or the influx of government stimulus, the anticipated wave of creditor actions as a result of the pandemic have been held at bay.

The Supreme Court has ruled unanimously that the “mere retention of property does not violate § 362(a)(3)” of the automatic stay.

In March 2019, the U.S. Supreme Court issued a narrow holding that debt collectors enforcing security interests in nonjudicial proceedings are subject to only one section (Section 1692f(6)) of the Fair Debt Collection Practices Act (FDCPA).