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

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Which comes first – the Divorce or the Bankruptcy?

I couldn’t have said this better myself. I get a lot of questions regarding divorce and bankruptcy and how the two relate. (Honestly, it usually starts with “do you do divorce work?” followed by a resounding “No!”. I learned a long time ago, I don’t

Bankruptcy Auction to Decide Fate of $87 Million California Mansion

Bankruptcy auctions tend to be pretty mundane affairs, but every once in a while, a bankruptcy court has to sell a wildly valuable piece of property in order to help a deeply indebted person discharge his or her debts. A recent case in Newport

Rolling Across the Border: Canadian Court Permits Roll-up of Pre-petition Borrowing in Cross-border Proceeding

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Steven Golick and Patrick Riesterer. Steven Golick is a partner in the insolvency and restructuring group of Osler, Hoskin & Harcourt LLP, and Patrick Riesterer is an

How Do You Know if You Qualify for Bankruptcy?

While each chapter has its own guidelines and qualifications, some are under the impression that they don’t qualify for bankruptcy with many mentioning the same excuses that could be keeping them from filing. Some feel they make too much money

The Daily Docket: Alabama Says Munis Can Enter Bankruptcy

Alabama’s top court ruled that the state’s struggling cities and counties have the power to file for Chapter 9 bankruptcy protection, a decision that largely frees the state’s most populous metropolitan area to move ahead with its five-month-old

Why Do Subprime Credit Cards Bear the Brunt of the Backlash?

The message from the banking industry to those lacking excellent credit is that they're welcome to deposit money, usually without interest and subject to fees - but not to borrow it unsecured.

Revisiting Those Things I Just “Know”

One of the stock lines in my sermon to clients about the importance of telling the entire and complete truth in the bankruptcy schedules has been the threat of denial of discharge. If your discharge is denied, I intone, those debts are forever non

Auto Lenders Must Take the Wheel on Selecting Repo Agents

With the CFPB looking broadly at third-party relationships, lenders need to know the qualifications of anyone handling an account for them. Giving carte blanche to middlemen to hire car repossession agents may no longer be an option.

Chapter 7 Bankruptcy Time Bomb: Mortgage Modifications

Last time, we talked about how a mortgage modification could screw up your ability to avoid a second mortgage in a Chapter 13 bankruptcy. If your principal balance is lowered on your first mortgage, your second mortgage may survive a Chapter 13. But

The JOBS Act: Part 2 of a DailyDAC Series on what the JOBS Act means for Accredited Investors

The JOBS Act: A Broad Stroke Overview: Part 2 of a DailyDAC Series on what the JOBS Act means for Accredited Investors In our last installment, we focused on the JOB Act’s lifting of the ban against general solicitation for offerings under Rule 506

How the Fed affects your life and money

When the Fed sets the federal funds rate, there's a trickledown effect on other rates.

Americans say 'no' to investing in stocks

Americans shun the potential for higher returns from stocks, according to Bankrate's survey.

Americans on brink of optimism in April

In all but one category, Americans feel better about their finances than they have since 2010.

Charts: Americans more optimistic than before

Bankrate's survey reveals Americans' personal finance outlook in April.

How can car co-signer avoid credit crash?

Here's some credit damage control if you vouch for someone else's car loan, and it goes unpaid.

Which airlines offer bereavement fares?

Check this list to see which airlines make those tough travel arrangements easier to bear.

Jobs turn ugly. Will Fed swoop in?

Conflicting economic data add to the uncertainty of what future moves the Fed might make.

How do I manage my money now that I'm older?

For women approaching retirement, here are the keys to a good money strategy.

Former Business Manager for Black Eye Peas files Chapter 7 Bankruptcy

Sean Larkin, former manager of the hip hop music group Black Eyed Peas filed Chapter 7 bankruptcy protection over the weekend in Los Angeles, CA. The Los Angeles Times reports that Larkin acknowledged failing to file tax returns for the music group

Even the Rich and Famous Sometimes file Bankruptcy

Just about everyone acknowledges that the economy has been rough for the last couple of years. Bankruptcies are being filed more than ever, and nearly everyone knows someone going through the process. It may surprise you to learn that filing for