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

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Maclaren U.S. Unit’s Bankruptcy Flies Under Radar

Getty Images This past Dec. 29, as many families were beginning to enjoy recently received gifts, including Maclaren’s high-end strollers or cribs, the American unit of that company quietly filed for Chapter 7 bankruptcy protection. The filing in the

Farkas to Government: Don’t Take My Car!

Bloomberg News Lee Farkas Writing from prison, Lee Farkas is asking the federal government not to touch one of the fancy cars prosecutors say he collected with the proceeds of a major mortgage fraud. The man behind Florida mortgage lender Taylor

The Broke and the Beautiful: Kodak in the Rough Edition

This week on The Broke and the Beautiful, Kodak wants to reject an agreement with the PGA Tour and stars in Billy Crystal’s Oscars jokes. Also this week, Oscar winner Meryl Streep donates money to a school in Central Falls, R.I. Reuters A Kodak

Florida Man Hides Thousands in Personal Bankruptcy Filing

Bankruptcy fraud is not taken lightly as one former resident of Toms River, New Jersey recently found out. Bryan Young, 39, may face criminal charges related to bankruptcy fraud, according to an announcement from United States Attorney Paul J

UK’s Supreme Court Hands Down Judgment on “Client Money” Issues in Lehman

On Wednesday, the UK’s Supreme Court handed down judgment in the high profile directions application brought by the administrators of Lehman Brothers International (Europe) (in Administration) (“LBIE”) concerning client monies. The case addressed the

When Bankruptcy Attorneys Put Their Clients In Default

The Chapter 13 Trustee almost snarled from the counsel table at last week’s hearings. Counsel’s “fix”, she told the court, put the debtor instantly in default. Huh? The amended plan was supposed to correct the previous defect in the filed plan. What

The Daily Docket: Hostess Defends Bid to Shed Pensions

Hostess Brands Inc. is defending its bid to shed its pension plans and cut back on benefits for its unionized employees, saying it’s the only way for the company to survive its current trip through bankruptcy. Read the Daily Bankruptcy Review article

When An Argument Doesn't Turn Out As Well As Expected

Sometimes a legal argument which seems clever in the abstract can look downright silly when placed in context. That was the case with several arguments rejected by the court in Smith v. Citimortgage, Inc., et al, Adv. No. 11-5136 (Bankr. W.D. Tex. 2

Business Bankruptcy: When, How, and What Kind?

When you are up to your armpits in alligators.... If you own your own business, and that business is in trouble, or even just not doing as well as it once was, among the tools you should consider using is a business bankruptcy. If you want to

Georgia Creditor Forces Individual, High-Income Chapter 7 Debtor Into Chapter 11

In the case of I n re Derrick Dewayne Gordon, Case No. 11-62509, 2012 Bankr. LEXIS 2012 (Bankr. N.D. Ga. January 23, 2012), a Georgia creditor successfully argued that an Atlanta Debtor could be forced into repaying his unsecured debts in Chapter 11

DISAPPOINTING - Fannie, Freddie & Bankruptcy

There has been little success with the money allocated by Congress, through HAMP, to help fix the mortgage crisis. Very few people having trouble with their mortgages have received any relief of any kind. No reduction in interest rates, no reduction

Small Credit Unions Should Beware of Big CU Agenda

Much like community banks bearing the burden of overregulation designed for the megabanks, small credit unions are being sucked into the perilous efforts of their much-larger counterparts.

Repair your old car or buy a newer, used car?

Not ready to buy a new car? Consider buying a newer, used model.

When to cut the financial cord on your kids

Is your adult child still dependent on your paycheck? Maybe it's time for some tough love.

3 CDs that break with investing tradition

A new world of CD investing is here. Check out the risks before sailing on this ship.

Avoid these 5 emotional mistakes of homebuyers

You know how wondrous it feels to fall in love? Don't do that with a house. And other tips.

Is it safe to put used tires on your vehicle?

You can save money with used tires, but there are safety factors to consider before buying.

IRS has $1 billion in unclaimed tax refunds

If you didn't file your 2008 taxes, part of $1 billion in old tax refunds might be yours.

Lowering Your Credit Card Rates After Personal Bankruptcy

At first glance, the title of this article might seem a little ambitious to you. After all, if you have credit cards after personal bankruptcy, you just may feel grateful that you even have access to credit. Therefore, you may be willing to put up

How to Retire if Your House Is Not Paid For

I recently started to do some financial video lessons for www.ehow.com. Everyday, I realize how poorly we are all educated about handling our money. To think that two-thirds of our economy is built on consumer spending yet we don’t teach anything