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

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RoomStore Chapter 11 Not Its First Brush With Bankruptcy

RoomStore Inc. filed for Chapter 11 protection Monday with plans to get leaner, but it’s not the furniture and bedding retailer’s first brush with bankruptcy. RoomStore, whose slogan is “We Don’t Cut Corners. We Cut Prices,” went into Chapter 11

How the Bankruptcy Double Standard Hurts Consumers

A recent article from The New Yorker highlights a troubling disparity in the way we view bankruptcy and loan restructuring in general in this country. As was evidenced in the recent bankruptcy filing of American Airlines, bankruptcy for corporate

Allmand Law’s “Times are Tough – Win a NOOK!” Social Media Contest Winner Is Amy Lippincott of Cypress, TX

Allmand Law is excited to announce that Amy Lippincott, of Cypress, TX is the winner of the “ Times are Tough – Win a NOOK!” social media contest. Followers submitted bankruptcy questions via Allmand Law’s Twitter account at http://twitter.com

Do As I Say AND As I Do: The Tenth Circuit Reverses Its Long-Standing Holding That the Automatic Stay Does Not Apply to Appeals Initiated by a Debtor

In a previous post, we wrote about the curious United States Court of Appeals for the Tenth Circuit’s decision in Chizzali v. Gindi (In re Gindi), which upheld a previous Tenth Circuit ruling in Chaussee v. Lyngholm that the automatic stay does not

Debt Settlement A Risky Alternative To Bankruptcy

Logic says that most lenders would be more than willing to negotiate debt settlements with debtors in this time of economic turmoil; but the reality shows something different. Instead of becoming more reasonable, many lenders are becoming less

The Daily Docket: Supreme Court to Weigh Credit Bidding

The U.S. Supreme Court has opted to weigh in on one of the hottest topics in bankruptcy: whether lenders have the right to use debt as currency in bankruptcy auctions. Read the Daily Bankruptcy Review article here. Furniture and bedding retailer

Ho, Ho, ...Hum? Make the Most of Your Holiday Downtime

You’re stuck at the office but things have slowed to a crawl. The phone’s not ringing and you’ve already updated your Facebook page. What to do? The Legal Intelligencer has a great post by Neen James with some great tips...

How Debt Settlement Works

If you are seeking to avoid bankruptcy and truly are attempting to pay off all of your debt, then a debt settlement program could be an option for you. Debt settlement companies typically can negotiate a settlement for you with your creditors and

Prepare to Pay if You Forget to Take the Financial Management Course

Recently I received a notice from the bankruptcy court that my client’s Chapter 7 case has been closed without the issuance of a discharge order because my client never completed his mandatory financial management course. This means that in order to

Special Purpose Vehicle (SPE): Comment in Recent US Supreme Court Case Encourages Bankruptcy Risk

Recently, Professor Joshua P. Fershee posted a very interesting observation on the Business Law Prof Blog. Professor Fershee comments on a legal concept called the "single enterprise" theory, and on references to this concept by the US Supreme Court

People are not corporations, and financial journalists are not ordinary people

It is getting really old, the exasperation of entitled financial journalists that ordinary folks are not walking away from their underwater homes as much as they supposedly should. The latest to sound this tired refrain is James Surowiecki in The New

Are health insurance premiums tax-deductible?

You can deduct premiums if your medical expenses exceed a certain threshold of your income.

Cut taxes with early mortgage payment

Paying your January mortgage and annual property tax bill in December can pay off at tax-filing time.

Spending gives back with social shopping apps

The latest apps give charities a percentage of your purchases when you shop at certain retailers.

Get Social Security benefits on ex's earnings

Enhance your retirement lifestyle by claiming benefits based on your ex's earnings record.

Getting Social Security benefits on ex's record

The rules are complicated, but it's worth investigating to see if you can get a higher benefit.

Getting a mortgage modification post-bankruptcy

It's tough to get a mortgage modification, but skipping payments isn't the answer.

Frugal gift-wrapping secrets from holiday pros

Gift wrapping can be as pricey as the gift itself. Use these tips to dress up presents for less.

Underwater? Weigh these refinancing options

You have refinancing options when you're upside down on your mortgage. Get the lowdown.

NPR Reports that Debtors Prisons Are Alive and Well

Although debtors' prisons are illegal across the country, you can apparently still end up in debt for an unpaid bill. I first came across this reality reading one of Lea Shepherd’s (Loyola Chicago) law review articles, Creditors Contempt. NPR tells