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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Low Down On AG Mortgage Settlement

A last minute addition to the program for Saturday was a presentation on the nation wide mortgage settlement between the states’ Attorneys General and the five major servicers. Here are my notes from the presentation by Joseph A. Smith, Jr. the court

Stripping in San Antonio

John Rao, NACBA Vice President, and Judge Leif Clark presented the program on lien stripping. John Rao: language in Nobelman points to 506(a) to determine the creditor’s status. Are they really a secured creditor subject to the modification

Debt Collector Checklist: Knowing When They’ve Crossed the Line

The following is a guest post from Sergei Lemberg, whose firm represents consumers in matters relating to fair debt collection, fair credit reporting, and lemon law. Debt collection calls can be annoying, but a frustrating situation can quickly turn

The Bankruptcy Code’s (and the Courts’) Treatment of Student Loans Is the Gift to Lenders That Keeps on Giving

In 1976, Congress amended the Bankruptcy Code to make government backed student loans nondischargeable in bankruptcy unless the debtor could prove that being forced to repay her student loans would impose an “undue hardship.” This exceptional

Struggling to Surrender

Here’s what I would have blogged live if the interest in our live blogging hadn’t crashed the server and required uninstallation of the software that would allow us to be really live. Honorable Robert Berger, KC KS; James Molleur counsel in Pratt

Don’t Get Stuck With A Surrendered Home After A Bankruptcy

My colleague, Jed Berliner, wrote recently about getting stuck with a home that your thought you surrendered in a bankruptcy case to your mortgage lender. Yes, Virigina, the American dream is dead, dead, dead, But there is a way to avoid getting

There’s A Monster in the Closet!

By: Ceara L. Riggs, Bankruptcy Attorney in St. Petersburg, Florida at The Reissman Law Group, P.A. Search for St. Petersburg/Tampa Bankruptcy Lawyers and what comes up? Pages about modifying your home or walking away from your home. Those aren’t the

How do I properly buy property from a relative?

Is it OK if a homebuyer keeps her relationship with her brother-in-law a secret from her bank?

Washington, Rules & NCBRC

Here’s what I would have blogged for the second session on Friday’s NACBA Convention. It seems that the enthusiasm for the “live blogging” effort crashed our server. We’re now up, at least for the moment, and for non live blogging. Jon Yarowsky NACBA

Is Student Loan Debt the Next Debt Crisis? Well, duh…

The problem of student loans in bankruptcy is the bane of my existence as a bankruptcy lawyer. Sometimes it’s just the amount of the debt–a client who incurred $100,000 to get a degree that qualifies him to make $24,000 a year. Sometimes it’s the

Pari Passu: So Passe! (Extractive Edition)

Felix Salmon stays with the Argentina pari passu saga, about which I wrote here. The holdout creditors have now filed their briefs (Felix has the links), and are doubling down on the text. Much of their argument hangs on a creditor-friendly

Final QM Rule Should Include Strong Protection from Lawsuits

The QM rule must include a safe harbor that affords lenders real protections when making the types of loans that government policy clearly seeks to encourage.

Ex-NFL Player Sues ‘Jerry Maguire’ Agent Leigh Steinberg

A former National Football League player and current coach is suing former super agent Leigh Steinberg in bankruptcy court over unpaid loans. Chad Morton, a special teams assistant coach for the Green Bay Packers, recently filed a lawsuit to make

Preparing for Unemployment

The economy isn’t faring too well, and even though some economists say the tide is turning, many people out in the trenches will disagree wholeheartedly. There are a number of unemployment tips and debt prevention tips out there but not many people

Illegal Debt Collection Tactics: Knowledge is Power

The following is a guest post from Sergei Lemberg, whose firm represents consumers in matters relating to fair debt collection, fair credit reporting, and lemon law. As the economy has worsened, many of those in the debt collection industry have

The Broke and the Beautiful: In Da (Bankruptcy) Club Edition

This week on The Broke and the Beautiful, rapper 50 Cent is laying claim to former protégé Young Buck’s IP, and Teresa Giudice is updating us on her bankruptcy. Also this week, the Boston Red Sox president’s special assistant says the Los Angeles

Arbitration Award Against Wachovia Securities in Derivium Capital Ponzi Case

Posted by Kathy Bazoian Phelps The latest buzz in the Ponzi world is over the $852,000 arbitration award that former Congressman Alan Grayson won against Wachovia Securities on April 3, 2012. Grayson lost money in the Derivium Capital Ponzi scheme

Financial Advice for the NFL Draft Class of 2012

Stories of Warren Sapp’s bankruptcy filing has been all over the news lately. It’s hard to imagine he’d find himself in such a predicament. After all, he’s a pro-bowler with at least $40 million in career NFL earnings. He has a good job as a very

The Chapter 11 Bankruptcy Case of One Question Too Many

There comes a time in every case when the bankruptcy lawyer needs to shut up and sit down, especially if the lawyer is not absolutely certain what the response of the witness will be. The following is funny as well as a perfect example of how a case

Tenth Circuit Prohibits Relief from Stay Where Bank Was Unable to Establish its Status as a "Party in Interest"

In In re Miller v. Deutsche Bank Nat’l Trust Co., 666 F.3d 1255 (10th Cir. 2012), the Tenth Circuit was faced with the determination of whether Deutsche Bank (the “Bank”) established that it was a “party in interest” and therefore, entitled to seek