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

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Drink scotch without putting budget on the rocks

Scotch. Whiskey. Bourbon. Call it what you will, but this spirit is making a big-time comeback.

Top 10 states for foreclosure

Only one state had a higher foreclosure rate than California. See which one it is.

Refinance a home to a 20- or 30-year mortgage?

A 20-year mortgage offers a lower payment, but there's one reason you might prefer a 30-year.

How to get a lien lifted from a used car

Oops, a used car you just bought has a lien. Follow this strategy to ensure its release.

Rates on auto loans falling for risky borrowers

Auto loan rates are dropping. See what rate you could snag based on your credit score.

No New Charters Is a Bad Sign

Unless there is a hidden Washington agenda to eliminate community banks as trouble-prone or hard to regulate, it is time to rethink the limitations and criteria required for new applicants.

Fifth Circuit Finds Inherited IRAs Exempt

In a case of first impression for the Fifth Circuit or any other court of appeals, the Fifth Circuit has ruled that inherited IRA accounts may be claimed as exempt under 11 U.S.C. Sec. 522(d)(12). Matter of Chilton, No. 11-40377 (5th Cir. 3/12/12)

Bankruptcy of Native American ‘Tribe’ Raises Intriguing Legal Questions

The Western Mohegan Tribe & Nation of New York has filed for bankruptcy protection. Against the Native American community’s grip of sovereign rights, the request for protection from a federal court would be a jarring development—that is, if only the

The Real Question re Goldman

Why doesn't Goldman have its employees sign non-disclosure agreements?

What Small Businesses Need Right Now

Congress should repeal Sarbanes-Oxley to increase the flow of equity capital to micro- and small-cap public companies. Lawmakers also must increase the allotment for the SBA 7a program and guarantee it exists for the next three years.


Foreclosures In Georgia and Metro Atlanta Jump Higher, Chapter 7 and Chapter 13 Bankruptcy Filings Also Rising

The Atlanta Journal reports that Georgia's rate of foreclosures remains among the highest in the nation. Statewide, 12,356 properties had foreclosure filings -- including default notices, scheduled auctions and bank repossessions -- in February

Chapter 13 Trustees Looking to Squeeze Every Last Dime from Debtors

Over the past couple of years I have noted an unsettling trend in my Chapter 13 cases. Trustees in the Northern District of Georgia are scrutinizing budgets line by line and are objecting to budget items in an attempt to force debtors to increase

Consistency - A Hallmark of the Delaware Bankruptcy Court

In a 17 page decision entered March 9, 2012, Judge Carey of the Delaware Bankruptcy Court granted a motion for relief from the Bankruptcy Code’s automatic stay to allow an undersecured creditor to exercise its remedies against a debtor’s collateral

The Daily Docket: Ambac Wins Approval of Chapter 11 Plan

A judge confirmed Ambac Financial Group Inc.’s plan to exit bankruptcy in the hands of its bondholders, a big step forward for a company that served as one of the enduring faces of the derivatives-driven financial services bubble and its catastrophic

Dirt-for-Debt, or Just Dirt: Judge Carey's Latest Decision in All Land Investments, LLC

Summary In a 28 page decision dated March 9, 2012, Judge Carey of the Delaware Bankruptcy Court denied confirmation of a debtor’s plan and granted the motion to lift the automatic stay filed by a creditor with a lien against a majority of the debtor

One of These Things is Not Like the Other: 9th Circuit B.A.P. Holds That Bankruptcy Court May Consider the Existence of a Third-Party Source of Recovery When Determining Whether Unsecured Claims Are “Substantially Similar”

Affirming a decision by the United States Bankruptcy Court for the District of Arizona, the Bankruptcy Appellate Panel for the Ninth Circuit recently held that a bankruptcy court may consider the existence of a third-party (non-debtor) source of

What Is An Automatic Stay in Bankruptcy?

What Is An Automatic Stay in Bankruptcy? In Bankruptcy, an automatic stay protects a debtor from creditors. The automatic stay prevents a creditor from collecting on debts incurred by the debtor. The automatic stay is effective immediately upon the

What Are Some Common Exceptions to Discharge in a Bankruptcy?

What Are Some Common Exceptions to Discharge in a Bankruptcy? In a bankruptcy, there are some common exceptions to discharge. This means that there are certain things that are unable to be eliminated through a bankruptcy. According to the United

Wage Garnishments

Many people turn to bankruptcy due to garnishment or increased collection efforts. With respect to garnishment, if your wages are not currently being garnished, but you think that you will be subject to a garnishment, filing for bankruptcy will stop

Can the Trustee require me to turnover property?

Can the trustee really make me turnover documents or property? No, the trustee cannot MAKE you turn them over. However, if you filed bankruptcy to receive a discharge, which most people do, then you will want to turnover items requested by the