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

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Student Loan Discharge in Bankruptcy

The average student loan debt is $40,000, amortized over 30 years. Many debtors are forced to make monthly payments in excess of $1,000, which is comparable to a mortgage payment. Bankruptcy laws were enacted to provide assistance to people suffering

Is Loaning Money at a 350% APR Evil?

In the early part of this year, a new start-up called ZestCash launched. Founded by former Google CIO, Douglas Merrill, it appears to be an attempt at short-term consumer lending with a Google-like "don't be evil" approach and markets itself as an

Japan's AIJ chief admits loss cover-up, apologizes

Too often, nobody accepts responsibility when a company fails. I commend Kazuhiko Asakawa, President of Tokyo-based money manager AIJ Investment Advisors, for his integrity. I hope he is rewarded for his bravery and look forward to the opportunity to

Mortgage rates sink on news of anemic recovery

After last week's quick rise, mortgage rates fell as the economy's performance fizzled.

Settle debt for less, hurt credit more?

Clearing a debt by not paying the entire amount may be a bad deal for your credit record.

Do I swap mortgage for home equity loan?

You could replace your mortgage with a lower-rate home equity loan. Learn the pros and cons.

Forced into retirement? Here's how to cope

Know how to handle the big questions if a job loss makes you a retiree too soon.

Work from home? Deduct your home office

Both the self-employed and an employee might get a tax deduction for having a home office, but there are rules.

America's 10 biggest banks by assets

Bank of America is no longer the biggest bank in the U.S. So who unseated this banking giant?

How to become a socially responsible shopper

With the outcry over items like the iPad, social responsibility is influencing how people shop.

Health care reform: What will the court do?

Hearings done, the Supreme Court must now decide what to do with the health care overhaul.

Clinical Research Firm, Cetero Research, Files Petitions for Bankruptcy in Delaware

Introduction On March 26, 2012, Contract Research Solutions, Inc., and certain affiliates (collectively "Cetero"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. In a declaration prepared

Chapter 13 - Bankruptcy Court vs. Appeals Court

I read a blog today, as well as the written opinion of the Court, concerning what is called a "fee-only Chapter 13 plan". While I agree with the ruling of the Court I completely disagree with the blog and was shocked that a lawyer would take such an

Bankruptcy News: Why These Debt Repayment Strategies Just Won’t Work

When it comes to battling that mountain of debt, you may believe that there are certain debt repayment strategies that will work. After all, you’ve seen them touted again and again on many financial websites and magazines. You know that with diligent

Howrey Dissolution Could Spark Litigation

Howrey LLP’s former top dogs could face lawsuits in the defunct law firm’s bankruptcy. The Am Law Daily dug up court filings disclosing “an extensive review” of one ex-partner’s emails for the purpose of investigating “whether the estate has claims

New Panel Data!

The Fed has just released their data from the 2007-2009 panel Survey of Consumer Finances. The SCF, conducted every three years, includes hundreds of variables on the assets, liabilities, income, and financial product shopping and utilization of

Los Angeles Dodgers, Group Agree To $2 Billion Deal For Sale Of Bankrupt Team

LOS ANGELES -- (Mealey's) The bankrupt Los Angeles Dodgers on March 27 announced a deal to sell the team for $2 billion to a management group headed by Hall of Fame basketball player Magic Johnson ( In Re: Los Angeles Dodgers, No. 11-12010, D. Del

Prepaid Cards Set Good Example for Simpler Disclosures

In an era of increasingly complex financial products, banks should focus more attention on how to explain to consumers what's in their wallets, especially given the sorry state of most disclosure forms.

Continuing Uncertainty About Continuing Claims

The fresh start is an integral feature of chapter 11. Through the operation of discharge, reorganized debtors shed past liabilities and debts in order to maximize the value of their underlying assets and, by extension, the return made to pre

Congress Has Its Own Limiting Principle

This is supposed to be a blog about credit and bankruptcy, but I can't help myself in making a short comment about one aspect of the oral argument and discussion from yesterday's challenge to the individual mandate. Credit Slips purists should note