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

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7-year debts cleared: Time to buy house?

As old debts fall off your credit report and your credit improves, be careful buying a house.

Use your inheritance to pay credit card debt?

With a mortgage, HELOC and credit cards, find out why paying off the cards is your best bet.

Mortgage rates are higher, but not scarily so

Wake up and smell the mortgage rates: They're still tasty, albeit higher than last week.

Figuring tax losses on property sale

Because your rental property sold for less than your original cost, you have a capital loss.

What are the 8 hot jobs to land this year?

With unemployment high, one of these in-demand jobs could help you return to work.

What Can I Expect to Happen During Chapter 7 Bankruptcy?

Most people who file Chapter 7 bankruptcy have little assets and qualify to have most of their unsecured debt discharged. Unsecured debt that may qualify to be wiped off or discharged includes medical bills and credit cards. Having little assets and

Flight Attendant’s Petition Seeks New Leaders at American Airlines

Bloomberg News A US Airways Group Inc. plane takes off behind American Airlines Inc. planes at Ronald Reagan National Airport in Arlington, Va. An American Airlines flight attendant who has mocked the company in YouTube videos is now seeking

Is Nevada the Delaware of Asset Protection?

Once a realm where where only the richest dared to dwell, more and more of the other 99% are looking into the world of asset protection. And rightfully we should, as making money is only half of the battle. Holding onto the money you’ve made is the

After bankruptcy: Keep watching your credit report

Ken and Mary filed bankruptcy with me three and a half years ago. They had built back to a credit score in the high six hundreds. Until last week. Last week, Bank of America “updated” their credit report, replacing “bankruptcy” in 2008 with

Local Rules Committee for Southern District of New York Wants to Ensure Litigants Keep Things Consensual

The Local Rules Committee for the United States Bankruptcy Court for the Southern District of New York has proposed new Local Bankruptcy Rules that, in response to the Supreme Court’s decision in Stern v. Marshall, require parties to expressly state

Why Congress May Overcome Gridlock and Reform GSEs in 2012

The inclination of Congress is to take a pass on the issue of GSE reform until after the election. The problem is that the Treasury support expires in December.

Madoff Trustee Asks the Second Circuit to Overturn Standing Rulings

Irving Picard, the trustee in the SIPA bankruptcy proceeding of Bernard L. Madoff Investment Securities, LLC, has asked the Second Circuit Court of Appeals to overturn two decisions from the Southern District of New York dismissing his common law

Why Whitney Houston Will Be Broke in Death

A recent article from the Huffington Post points out one of the minor tragedies that accompanied the larger tragedy of singer Whitney Houston’s recent death: that, despite her enormous talent and widespread popularity, the singer died more or less

Winthrop Harbor Bankruptcy Attorney Talks About Employer Discrimination After Filing

Link You will not be terminated simply for filing a Chapter 7 or Chapter 13 bankruptcy so states Winthrop Harbor bankruptcy attorney. Bankruptcy law is federal law and you have an absolute right to exercise your federal right to file a bankruptcy and

Zion Bankruptcy Attorney On Keeping A Credit Card After Filing Bankruptcy

Link The truth is that you are typically going to lose all of your credit cards and other credit when you file a Chapter 7 bankruptcy petition states Zion bankruptcy attorney. You are required under the bankruptcy code to list all of the people that

Famous Bankruptcies: It's an "Honor"

As a Boston bankruptcy attorney, I represent folks throughout Massachusetts in Chapter 7 bankruptcy. We don't have many clients who are famous, although all of our clients are important to us. Today's blog is an outline of a few famous people who

What Happens if My Financial Situation Changes in Chapter 13 Bankruptcy?

If you are in a Chapter 13 bankruptcy and you experience any reduction in your income, you may be able to file Chapter 7 under certain circumstances depending on your qualifications. There is a means test that can be taken to determine eligibility

The Daily Docket: Big Frowns for Small Smiles

The financially struggling operator of Small Smiles Dental filed for Chapter 11 bankruptcy protection to begin the process of selling its operations to repay its debts. Read the Daily Bankruptcy Review article here. A bankruptcy judge cleared the

Enforceability of Due-on-Sale Clauses: The Case for Collective Amnesia

I’ll admit it: I’m old and getting older. This hit me earlier this week as I argued with a lawyer about the enforceability of due-on-sale clauses in commercial mortgages. The conversations boggled my mind, because the debate was “settled” in 1982

The Unenforceability of Flip Clauses in Swap Agreements

By: Piergiorgio Maselli St. John's Law Student American Bankruptcy Institute Law Review Staff In Lehman Bros. Special Financing, Inc. v. Ballyrock (In re Lehman Bros. Holdings Inc.), [1] the United States Bankruptcy Court for the Southern District of