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

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Banks May Need to Invite in Mortgage Abuse Task Force

Rather than wait for government or plaintiff lawyers to find them, banks that were involved in the syndication of mortgage backed securities should control their exposure through a proactive, rigorous self-study program.

Could Ray Nagin Be Moving to North Texas? Dallas Real Estate News Blast From the Past

Could former New Orleans mayor Clarence Ray Nagin and his wife be heading for North Texas to maybe live in their Frisco townhome? Sure hope they’ve been paying their HOA dues. Reuters is reporting that former New Orleans mayor Ray Nagin is being

Two Years Post-Bankruptcy, Chrysler Brings in Profit

In 2009, when Chrysler accepted a federal bailout and filed for bankruptcy protection, many critics shook their heads, suggesting that the carmaker should be allowed to fail if it was not producing cars that appealed to the market. But just two years

The Daily Docket: Teamsters Threaten Strike in Hostess Case

The Teamsters Union said Monday that its members will strike if a judge clears Hostess Brands Inc. to implement new collective-bargaining agreements—replete with fresh cuts to wages and benefits. Read the Daily Bankruptcy Review article via The Wall

Imperfect Roses—a Valentine’s Day Lesson for Secured Lenders

It’s that time again. Whether you are romantically involved or not, the assortment of dashing flowers and delectable sweets being delivered all around you has surely alerted you to the (perhaps nerve-wracking) fact that today we celebrate St

Need to “Reposition” the Distressed Project or REO? Consider a Condominium

So much of dealing with distressed commercial real estate is an “out of the box” experience. But my use of the phrase “out of the box” is extremely nuanced: change your thinking; and change the box (the property), too. Here’s an approach that goes

Libertyville Bankruptcy Attorney States The Pre-Filing Requirements

Link The first main requirement is that of a credit counseling session. The credit counseling session must be completed just prior to or within 180 days of filing a Chapter 7 bankruptcy case. The credit counseling session is typically a one hour

Most Cases Are Chapter 7 According To Roselle Bankruptcy Attorney

Link Provided you do not have significant assets that can be taken by a Chapter 7 trustee, your attorney will likely recommend a Chapter 7 fresh start. The reason why I can say this with such confidence is that is that three out of every four

Downers Grove Bankruptcy Attorney On The First Step

Link When people are struggling with debt, what they really want is a fresh start. Chapter 7 bankruptcy provides that fresh start in over 75% of the bankruptcy cases that are filed throughout the United States. Chapter 7 is the perfect case for

Chapter 13 Bankruptcy Time Bomb: Mortgage Modification

One of the major benefits of Chapter 13 Bankruptcy is the ability to avoid second mortgages that are not secured by any value in your home. By following standards outlined in the Banrkuptcy Code, you can reclassify that loan on your home into the

Austerity Hits Greece

The latest EU bailout installment for Greece requires tough austerity measures. Among the most devastating is the prohibition on the use of Corinthian and Ionic columns. Henceforth, only Doric columns may be utilized. This measure was a compromise

Obama budget takes Robin Hood approach

New 2013 budget calls for raising income taxes and capital gains tax rates for high earners.

Does employer match count toward 401(k) limit?

There's a limit on your 401(k) contributions, but your employer's don't count toward that limit.

Love & money quiz: How do you & your mate relate?

Take this quiz to see whether you and your partner are financially compatible.

7 things you didn't know about 529 plans

These college savings plans can aid your family. They're also complicated.

When sharing taxes might not be a good idea

A couple has a choice of filing jointly or separately. Consider both options.

Is bankruptcy an option with reverse mortgage?

Make sure to look at these three items before filing for bankruptcy with a reverse mortgage.

Dividing the Mortgage Settlement Dollars

Details are still forthcoming about the settlement between the federal government and attorneys general and the five largest servicing banks but one interesting twist that is already emerging is how the dollars are being divvied up and distributed

Chapter 15 Does Not Permit Relief Manifestly Contrary to U.S. Public Policy

By: Malerie Ma St. John’s University Law Student American Bankruptcy Institute Law Review Staff Applying the “public policy” exception of Chapter 15, the Bankruptcy Court for the Southern District of New York refused to enforce a German bankruptcy

Section 546(e): “Safe Harbor” Held Inapplicable to Small Private LBOs

By: Shlomo Lazar St. John’s Law Student American Bankruptcy Institute Law Review Staff Recently, in In re MacMenamin’s Grill Ltd., [1] the Bankruptcy Court for the Southern District of New York held that 11 U.S.C. section 546(e)’s safe harbor for