ABI Blog Exchange

Determining Meaning of Debtor’s Principal Residence Under BAPCPA

By: Patrick McBurney St. John's Law Student American Bankruptcy Institute Law Review Staff Affirming the decision of the bankruptcy court, the Bankruptcy Appellate Panel for the First Circuit in Pawtucket Credit Union v. Picchi (In re Picchi), [1]

5 bad money habits to kick for 40 days

Kicking a bad habit can be good for your health, but it could be better for your wallet.

How foreclosures affect buyers and sellers

The foreclosure crisis means buyers have to be smart and sellers need to get serious.

8 ways to avoid getting conned

A former cop tells you how to stay one step ahead of thieves.

How celebs borrow Oscar-worthy jewelry

Those diamonds dazzle, but what steps does it take to get them down the red carpet?

A look at the many capital gains rates

Capital gains tax is a complicated game with high stakes for investors. We break down the rules.

Your mortgage escrow account isn't for investing

Even if you're earning interest on escrow accounts, there are better places to stash cash.

The small-business owner and the taxman

If it's your business, then it's your business to know about taxes.

How birth order can affect your finances

Are you the oldest in your family? See how the order you're born in can explain your finances.

Chapter 13 Bankruptcy, FICO Scores and Stripping Liens From Underwater Property – Leon Bayer on the Radio

About 39% of all Chapter 7 cases filed without a lawyer end in failure, (even for those who use self-help services from a bankruptcy petition preparer). Leon Bayer and Jeffrey Wishman of the Los Angeles bankruptcy firm Bayer, Wishman & Leotta, are

AG Settlement Gives OCC Foreclosure Reviews New Urgency

Joseph Smith, the appointed monitor for the state attorneys general settlement, should start coordinating with the OCC and Fed on their foreclosure abuse agreements now.

Madoff Trustee and Mets' Owners Aim Final Beanballs at Each Other Ahead of Summary Judgment Hearing This Week

Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (“BLMIS”), and Fred Wilpon and Saul Katz, the owners of the New York Mets, and their families and affiliated enterprises (the “Wilpon/Katz Group”), each submitted their final

What Recoveries Can American Airlines & Global Aviation Creditors & Equityholders Expect? Infographics Summarizing Guidance from 10 Years of Airline Bankruptcies

If I File Bankruptcy Can I Keep My Credit Cards?

To many consumers, this may be an odd question since the overall purpose of bankruptcy is to eliminate debt. While many debtors often include credit card accounts they are unable to pay, some may have a credit card account that is in good standing. A

Mt. Prospect Bankruptcy Attorney Says There Is No Debtor’s Prison Anymore

Link No, there is not a debtor’s prison in the United States claims Mt. Prospect bankruptcy attorney. You will not go to jail simply for your failure to pay your bills. An exception to this would be failure to pay child support if a divorce court

Slavery Museum Files Bankruptcy-Exit Plan

The U.S. National Slavery Museum recently filed a plan to exit bankruptcy protection and restart fundraising so it may someday share its collection of slavery artifacts and documents with the public. Five months after filing for Chapter 11 protection

03-15-2012: Raising Bar for Disclosure in Bankruptcy Cases

Sara Coelho will be a panelist on a Turnaround Management Association webinar: The Good, the Bad, & the Contentious. Thursday, March 15, 2012 12:00 pm – 1:00 pm EST This webinar will address newly adopted Bankruptcy Rule 2019, which requires certain

Cold Comfort for Class Action Plaintiffs in the Fourth Circuit: Court of Appeals Permits Filing of Class Claims But Gives Bankruptcy Court Significant Discretion in Applying Bankruptcy Rule 7023

The United States Court of Appeals for the Fourth Circuit, in Gentry v. Siegel (In re Circuit City Stores, Inc.), recently held that class proofs of claim are permissible under the Federal Rules of Bankruptcy Procedure, but only on a conditional

Fed Approves Capital One’s Aquisition of ING Direct

After some delays, the Federal Reserve recently approved Capital One Financial Corp.’s plan to buy ING Group N.V.’s U.S. online banking business, ING Direct. The WSJ reported that this acquisition was “the biggest bank deal to win approval from the

Actions You May Want To Avoid If Planning To File Bankruptcy

Debtors looking to seek bankruptcy protection often are unable to make debt payments or want to have their debt reorganized so that it is easier pay on what is owed. Bankruptcy can help debtors deal with their finances but certain financial decisions