Congratulations Paul Cervenka & Wes Kozeny!

Please join us in congratulating Paul Cervenka and Wes Kozeny on becoming Shareholders in Bonial & Associates, P.C.! Feel free to read the available article by clicking the link below.

Kozeny & McCubbin Merges with Bonial & Associates, P.C. (BPC)

Bonial & Associates, P.C. (BPC) welcomes Kozeny & McCubbin and expands their legal services to mortgage loan servicers, automotive finance companies and consumer lending clients in six states.  States include Texas, California, Missouri, Nebraska, Kansas, and Oklahoma.  The combined firms will operate under the name Bonial & Associates, P.C. (BPC).

The move adds all 10 attorneys and 40 staff members from Kozeny & McCubbin to BPC. The new law firm will have 27 attorneys and 92 support staff, positioning it to serve our clients with even greater efficiencies and performance.  Combined the law firm now represents over half of the top twenty mortgage servicers and consumer finance companies with leading services related to handling of foreclosure, bankruptcy, litigation, eviction and other related legal services.

“We are excited to join the Bonial family.   We are a stronger team together bringing industry leading performance and greater strategic value to our clients.” stated Wes Kozeny.  Prior to the merger, Wes Kozeny practiced in various areas, including banking, finance and mortgage lending; bankruptcy; creditors' rights; real estate matters including residential and commercial leasing and sale transactions, title litigation, foreclosures, evictions, condemnation and mechanic's liens. Mr. Kozeny is licensed to practice in Missouri, Kansas, Nebraska, Oklahoma, Illinois, New York and Texas.

Hilary Bonial, Director of BPC stated, “We are excited to have Wes and team join our family.  Together, we can generate even greater benefits with the expanded state footprint.  We share the passion and goal of providing excellent service for our clients!”  Ms. Bonial is licensed to practice in Texas and Louisiana, and is admitted to numerous Federal Courts.

Bonial & Associates, P.C. represents creditors in foreclosure, bankruptcy and related litigation matters. We emphasize quality, compliance and risk management.
The firm provides national bankruptcy representation for all 50 states in association with a network of over 150 other law firms who perform services as local counsel. Bonial & Associates, P.C. also provides direct legal representation on a state-wide basis throughout Texas, California, Missouri, Nebraska, Kansas, and Oklahoma.   Bonial & Associates, P.C. delivers quality legal services with an emphasis on demonstrable subject matter expertise, domain knowledge and the highest levels of compliance and professional responsibility.

Gen Z is Leading the Way to Alternative Payment Options - Payments Journal

Millennials are often seen as the most digitally savvy generation, but they were actually raised during a time when the internet was still nascent technology. In contrast, Generation Z, or those who were born between 1995 and 2015, grew up with smartphones for toys — and it is for this reason that they’re nicknamed the iGeneration. And when it comes to payments, it’s this population of young digital natives that are demanding newer and more technologically advanced options. In 2018, CO-OP Chief Product Officer Bruce Dragt covered the basics of alternative payment methods (APMs), which are helping us transition to a cashless society. As the name suggests, APMs offer payment options other than the traditional cash-based or credit card systems already in place. While different APMs target different age brackets and types of consumers, a significantly wider adoption is observed among Gen Zers.

Millennial debt is rising in these U.S. cities - Yahoo Money

Millennials living in certain U.S. metro areas are seeing increases in non-mortgage debt, according to a study by LendingTree, at a time when Americans’ debt is hitting record highs. Auto debt and student loans account for the biggest portion of non-housing debt for millennials, the generation born between 1981 and 1996. A 2019 report by the New York Fed found that millennials have the worst delinquency rates when it comes to auto loans, and outstanding student debt currently stands at $1.6 trillion spread across 44 million borrowers.

Capping interest rates on payday loans leads to more debt and defaults - The Economist

TO THE CASUAL observer, the business of lending to poor, financially unsophisticated people at sky-high interest rates seems inherently predatory. But payday loans, as they are commonly known, are more complicated than they might at first appear. On the one hand, such loans are rarely paid off all at once. Most are rolled over into new loans, sometimes many times over, leaving cash-strapped borrowers caught in a cycle of debt. On the other hand, laws aimed at restricting payday loans can prevent risky borrowers from gaining access to credit. Some may be forced to seek even costlier alternatives.

A New Law Is Changing How Veterans and Service Members Pay for Homes - ABI

In January, a new law governing mortgages guaranteed by the Department of Veterans Affairs took effect, the Wall Street Journal reported. Now borrowers using VA loans can borrow any amount of money — as long as they qualify — with no down payment. Previously, zero down payment loans were capped at the same level as conforming loans. The new rules also affect refinances. In 2019, about 10 percent of all loans written for home purchases were VA loans — up from about 2 percent before the recession, said John Bell III, deputy director of the home loan program for the Department of Veterans Affairs. The increase in usage is partly due to improvements in the way the program works. Loans take only a day or two longer to close than conventional loans, Bell said.

Reset Button Is Approaching Student Debt from a New Angle - ABI

According to research by Villanova law professor Jason Luliano, a million student loan debtors have filed for bankruptcy in the past five years. However, 99.9 percent of them did not include their student loan debt in their bankruptcy filing. This research was the seed of what would become Reset Button, a new startup founded by Luliano and Rob Hunter looking to help student loan debtors who have gone through bankruptcy find a new way to include those debts in their filing, reported. Reset Button is targeted directly at folks who have already filed for bankruptcy but were told they couldn’t include their student loan debt in those filings, and so they didn’t. Reset Button has built a network of litigation lawyers who have experience in seeking student loan discharges. When a new user fires up Reset Button, the startup sends them through an evaluation process that collects financial information, etc. to assess whether or not one of those lawyers could litigate the discharge of that user’s student loan debt. Reset Button, as the connective tissue between debtor and lawyer, is able to automate a lot of that process for the lawyers, delivering a package of information on the case and connecting the user with the right lawyer for them.

Trump’s DOJ Urges Supreme Court to Keep CFPB Up and Running - ABI

Facing an existential threat at the U.S. Supreme Court, which will hear oral arguments on March 3 in a constitutional challenge to the unusual structure of the Consumer Financial Protection Bureau, the CFPB has found an unlikely champion. The Trump administration believes that the bureau's lone director is unconstitutionally shielded from accountability to the president, yet the Justice Department’s final brief before oral argument urged the Supreme Court not to issue a ruling that will halt the CFPB’s “critical work," Reuters reported. “The bureau,” DOJ argued in a reply brief filed on Friday, “is the federal government’s only agency solely dedicated to consumer financial protection.” Invalidating the entire statute that created the CFPB, DOJ said, will wreak havoc not just for consumers but for the banks, mortgage lenders, credit card companies, and other financial institutions regulated by the CFPB. The government even cited the billions of dollars CFPB has recovered in enforcement actions as proof of its crucial mission. The California debt relief firm that brought the CFPB case to the Supreme Court, meanwhile, continued to argue in its final brief that if the Supreme Court deems the CFPB’s structure to be a violation of separation of powers doctrine, the justices must either strike down the entire Consumer Financial Protection Act or else leave it to Congress to fix the problem. The case is Seila Law v. CFPB, 19-7.

Small Business Bankruptcy Law Rolls Out With New Trustees - ABI

The U.S. Trustee Program has some 250 new trustees at the ready to assist with small business cases as a change in bankruptcy law intended to make it easier for smaller companies to reorganize goes into effect, Bloomberg Law reported. The Small Business Reorganization Act of 2019, signed into law in August, adds a subchapter to the bankruptcy code’s chapter 11 to cut the legal costs incurred by qualifying small corporate debtors, defined as those with about $2.7 million of debt or less. It also expedites the restructuring process and allows owners of the bankrupt company to retain a stake.“The SBRA represents an innovative effort to expedite and reduce the cost of bankruptcy for small business debtors to reorganize their debts and save their businesses,” said USTP Director Cliff White. “The USTP has spent the past six months preparing for its implementation and is committed to ensuring that the law is carried out as intended.” In addition to the selection of the new subchapter V trustees, the USTP developed a comprehensive manual and handbook to guide staff and subchapter V trustees in carrying out their new SBRA responsibilities; provided extensive training to staff, subchapter V trustees, bankruptcy professionals, and others interested in the new law; and coordinated with the bankruptcy courts on administrative issues to ensure a successful implementation. Click here to read the USTP's press release.