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

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Severance Payments as Administrative Expenses? One Court Says, “Don’t Count On It.”

Those of us who live in South Florida are familiar with a saying that goes something along these lines, “The farther south you go, the further north you get.” The saying may be true in many respects, especially considering that many South Florida

Bankruptcy is the Best Way to Save Your Home

Loan mods. Workouts. Bankruptcy. Which is the best way to save your home? A recent article, “The Homeownership Experience of Households in Bankruptcy” by Professor Sarah W. Carroll, of the University of Pennsylvania Law School and Wenli Li, of the

Things You Must Tell The Bankruptcy Court

Debtors filing Chapter 7 or Chapter 13 bankruptcy are required to divulge details of their financial lives so that the trustee can make a proper assessment of their financial situation and come up with a fair plan which will repay creditors as much

Judge Rakoff Rejects Citigroup-SEC Settlement

We have previously posted ( here when the settlement was announced, and later here and here on questions posed by the court) concerning the $285 million proposed settlement of the SEC’s charges against Citigroup in connection with certain mortgage

USPS Keeps Batting Back Bankruptcy

The U.S. Postal Service announced recently that, in an effort to avoid filing for bankruptcy, it will raise prices on its most popular services (priority and express mail), as well as on standard first class stamps (up to 45 cents each starting

The Daily Docket: AMR Flies Into Bankruptcy

AMR Corp., the parent company of American Airlines, filed for Chapter 11 protection Tuesday, The Wall Street Journal reports. A federal judge has ruled that the First Amendment doesn’t bar investors from suing credit rating companies over losses on

Debt Collection Abuses Worsen

The Federal Trade Commission has announced that the number of complaints against debt collectors has experienced a spike since the 2008. The Federal Trade Commission reports that the number of complaints about debt collectors rose from 104,766 a year

Bankruptcy: After Christmas?

It's the time of the year where many people start buying gifts for others for the holidays. That, of course, is in addition to buying food, heat, electricity, telephone(s), gasoline, auto insurance, cigarettes (bad for health - bad for pocketbook)

Bankruptcy: After Christmas?

It's the time of the year where many people start buying gifts for others for the holidays. That, of course, is in addition to buying food, heat, electricity, telephone(s), gasoline, auto insurance, cigarettes (bad for health - bad for pocketbook)

Bankruptcy: After Christmas?

It's the time of the year where many people start buying gifts for others for the holidays. That, of course, is in addition to buying food, heat, electricity, telephone(s), gasoline, auto insurance, cigarettes (bad for health - bad for pocketbook)

Who will benefit from filing Chapter 13?

Filing for a Chapter 13, also known as a wage earner’s plan, can help those who have tried all the other means in ditching their outstanding debt. By filing for Chapter 13, the debtors can not only avoid foreclosure or repossessions but can also pay

Everything You need to Know about Consumer Bankruptcy

The Bankruptcy Code, which is listed in the United States Code as Title 11, has undergone various amendments since its enactment. The Bankruptcy Code ensures a well laid out legal procedure to deal with the debts of both individuals and businesses

Advantages of Filing for Chapter 7 Bankruptcy

Mounting debts and a slow economy have made the repayment of loans an uphill task for most debtors. Debts may spiral out of hand especially when faced with unforeseen incidences, such as the loss of a job or significant hospitalization. There are

MERS Update - Legal (MERS surges), Political (it's stick), Transparency (kudos to MERS)

I've been following the MERS saga for several years now ( prior postings for background). My bottom line: we need a Federal solution. This one-state-at-a-time approach is a painful process - and it will negatively impact the iquidity needed in our

UPDATE -- Stern v. Marshall Amicus Briefs

Thank you to the Hon. Scott Clarkson for forwarding us the Order re extension of time to file Stern v. Marshall amicus briefs: Read the Order here.

Transfer Day Assumed Credit Unions Are Virtuous

The awkward truth is that we don't know nearly enough about the extent to which credit unions serve low- and moderate-income consumers.

Back to school? College aid for older students

Age isn't a barrier when it comes to financial aid for college, if you know where to look.

5 hidden costs of checking-account freebies

The free restaurant gift card that comes with opening a checking account may not be worth it.

Should you use money markets for liquidity?

Maclyn Clouse, Ph.D., offers his insight on low-risk investing in a low-rate market.

Stuck in mortgage limbo after doing a short sale

You're stuck in the short-sale penalty box and can't get a mortgage? Here's how to escape.