Financial Institutions
Preparing for a Possible Recession
Charlie Scharf says there is “no question” we’re headed into an economic downturn and likely a recession. Jamie Dimon says to “brace yourself” for an economic hurricane. Elon Musk has a “super bad feeling” about the economy. (Even though Elon thought we’d have zero Covid cases […]
Read MoreWill Upcoming Changes from Credit Reporting Agencies on Medical Debt Actually Make Things Worse?
Equifax, Experian, and TransUnion, the three major consumer credit reporting agencies, recently announced that as of July 1, 2022, they will make changes to the way medical collection debt is reported. These changes may provide some initial benefits to consumers. But it’s unclear whether they […]
Read MoreHow to Get Your Business Ready for the Next Round of Financial Distress
I’ve written previously about the likely increase in delinquencies and bankruptcies coming this year, but the numbers have yet to back up that prediction. In 2021, according to the American Bankruptcy Institute, consumer bankruptcies decreased by 24%, commercial bankruptcies decreased by 31%, and Chapter 11s […]
Read MoreA Surge of Collections and Bankruptcies in 2022?
Many of us who monitor the economy for signs of repayment distress were certain in early 2020 that the pandemic would result in a dramatic increase in consumer and commercial collections and bankruptcy filings. Some bankruptcy firms even hired additional lawyers in anticipation of the […]
Read MoreZana Tomich Named a “Go-To” Business Lawyer by Michigan Lawyers Weekly
Media Contact: Barbara Fornasiero; EAFocus Communications; barbara@eafocus.com; 248.260.8466 Detroit—December 30, 2020—Zana Tomich, co-founder of Detroit-headquartered law firm Dalton & Tomich PLC, has been named a Michigan “Go-To” Lawyer for Business by Michigan Lawyers Weekly. The publication’s “Go-To” Lawyer honor spotlights Michigan lawyers who are leaders […]
Read MoreHomeowners’ attempt to declare foreclosure proceeding untimely fails
Most if not all mortgage agreements contain a debt acceleration clause. That clause allows the bank to declare the entire balance due upon the occurrence of an event—like the failure to make a payment. In Akouri v. Comerica Bank, one of the questions addressed […]
Read MoreDetroit Land Use & Zoning
In addition to the land use and zoning work that we do for religious organizations around the United States, and the donation and collection bin cases wherein we have successfully asserted First Amendment Free Speech claims, we have been working with local property owners and […]
Read MoreMichigan Court of Appeals Affirms Assigned First Mortgage Priority Over Condo Liens
A recent decision by the Michigan Court of Appeals provided some relief to the financial services industry by holding that a first mortgage of record has priority over a later recorded lien to secure unpaid condominium dues, even though the mortgage was assigned after the […]
Read MoreBefore Foreclosing, Financial Institutions Must Ensure Interest is Properly Recorded
A recent decision from the Michigan Court of Appeals makes one thing clear for all financial institutions initiating foreclosure proceedings: Make sure you follow the rules and have the necessary documentation before you start a foreclosure proceeding. In Everbank v. Hikmat Zeer, the Court of […]
Read MoreMichigan Court of Appeals: Filing Suit Does Not Toll Right of Redemption Period
The Michigan Court of Appeals has held that, after foreclosure proceedings and a sheriff’s sale, filing suit against a mortgage company does not serve to toll the six-month statutory right of redemption period. The Court of Appeals announced today its unpublished decision in Nadia Awad […]
Read MoreAbout Us
The attorneys of Dalton & Tomich, PLC have the experience and the knowledge to work with you to develop a legal solution that helps accomplish your goals. Our collaborative approach has helped leaders like you grow businesses and banks, develop and expand churches, and build nonprofit organizations nationwide.
Our Practice Areas
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call us: 313.859.6000
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Detroit:The Chrysler House
719 Griswold Street, Suite 270
Detroit, Michigan 48226
Parking in Financial District Garage (730 Shelby Street, access via Lafayette and Shelby) -
Chicago:180 W. Washington St., Suite 400
Chicago IL 60602
312.235.6858 -
Rockford:401 W. State St., Suite 509
Rockford, IL 61101
Mitchell CorderAdministrative Bishop Church of God, Tennessee
In my role as Administrative Bishop for the Church of God, quite often we are faced with issues that involve local governments and municipalities. Many of these issues that arise in dealing with entities are land use related. I have found Dalton & Tomich’s experience and expertise in this area to be a valuable resource and asset in every situation.
Tim RhodusLead Pastor, Cross Church Carlinville & Staunton, IL
Never one time during a year-long litigation process did Dalton & Tomich demonstrate anything other than Christ-like professionalism. They managed the legal details, while we continued to do church. How they managed themselves, managed our case, and represented our church set the table for me and our church to be where we are today.
Ronnie HolmesSenior Pastor, Church of the Open Door, Waco, TX
Dalton & Tomich’s expertise and experience helped us through a very difficult legal journey, ultimately achieving a favorable outcome. Their personal interest in helping us went “above and beyond” just the call of duty.