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

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Do You Remember How Overdraft Protection, Overdraft Fees, and Free Checking Used To Work?

Calling everyone in the over-40 set to help me remember something. When dealing with those old-fashioned things called “checks,” how did your own overdraft protection used to work? My recollection is that, back in the day, as long as a person had a

Coming Soon to a Bank Near You: Expanded Compensation Disclosure

On October 19, we posted about the Federal Reserve’s recently released report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The report notes that the Fed intends to implement the Pillar 3

Coming Soon to a Bank Near You: Expanded Compensation Disclosure

On October 19, we posted about the Federal Reserve’s recently released report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The report notes that the Fed intends to implement the Pillar 3

Bensenville Bankruptcy Lawyer Describes The Steps To A Successful Case

Link The main steps in a bankruptcy really are distilled into a few. First is meeting with the attorney, helping him prepare the schedules, making sure they’re accurate, complete and honest; then taking their counseling course. After those two things

You Say Potato, Court Says Solvent: Idaho Bankruptcy Court Dismisses Municipality’s Chapter 9 Case for Lack of Evidence of Insolvency.

Within three months after a federal court entered a $4,000,000 judgment against Boise County for violating the Fair Housing Act, the purportedly cash-strapped municipality filed for bankruptcy protection under chapter 9 of the Bankruptcy Code. Alamar

Bolingbrook Bankruptcy Attorney Describes Chapter 13

Link Chapter 13 is often confused with debt consolidation. It can be likened to debt consolidation but with the power of the Federal government behind it. Unlike debt consolidation where it is purely voluntary, Chapter 13 involves a proposed plan of

Waukegan Bankruptcy Attorney On Chapter 7 Bankruptcy Law

Link Chapter 7 bankruptcy is what is often referred to mistakenly as a total liquidation. The thrust of the idea is that the debtor discharges most, if not all, of his unsecured liabilities and he can possibly get rid of secured debts, such as

Aurora Bankruptcy Attorney States What Debts Are Discharged In A Typical Bankruptcy Case?

Link Debts that are discharged in bankruptcy, it’s pretty easy to answer this question by answering what isn’t discharged in a bankruptcy. Chief among the debts that are not discharged include certain taxes, student loans, child support, toxic waste

Joliet Bankruptcy Lawyer On Stopping Creditor Harassment

Link Creditors have to stop harassing a debtor the minute the case gets filed with the court. There is something called the automatic stay, which is a, basically, an injunction that allows the court to impose a stop order, if you will, on the

Improper Ownership Of Life Insurance Policy Is Windfall For Creditors.

I saw another example of how sloppy financial and estate planning causes problems in bankruptcy. In this instance, a man took out a $100,000 life insurance policy on his own life. The man died at a time when he and...

HARP vs. Bankruptcy

The federal government is at again – they’re taking another stab at the housing crisis. The Federal Housing Finance Agency is working with the Obama administration to save up to 1 million homeowners in underwater properties. The agency is aiming to

The Daily Docket: Lehman Reaches Deal With SunCal

Lehman Brothers Holdings Inc. and California land developer SunCal Cos. reached a settlement in their long-running fight over the fate of more than a dozen stalled real-estate projects. Read the Daily Bankruptcy Review article here. An affiliate of

11-3: Can dealmakers take advantage of the companies currently on life support?

Weil partner, Harvey Miller, will participate in a discussion about some of the biggest restructuring stories for 2011 and what the future holds for next year and beyond. Thursday, November 3, 2011 2pm EST/11am PDT What’s the outlook for this sector

Chapter 13 Common Questions For Waukegan Bankruptcy Attorney

Link How long will a Chapter 13 plan last? Chapter 13 plans lasts anywhere from three to five years. There are instances where a Chapter 13 plan can last less than three years, but the typical Chapter 13 plan lasts no less than three years and

Coming Soon to a Bank Near You: Expanded Compensation Disclosure

On October 19, we posted about the Federal Reserve’s recently released report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The report notes that the Fed intends to implement the Pillar 3

Coming Soon to a Bank Near You: Expanded Compensation Disclosure

On October 19, we posted about the Federal Reserve’s recently released report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The report notes that the Fed intends to implement the Pillar 3

Bankruptcy Exemptions: The Wages of Benn (Part III)

In the on-going saga of Missouri bankruptcy exemptions, some apparently-settled debtor protections have recently been destabilized. And this caused an apparent split among bankruptcy judges on at least some of these protections. Recently, this on

Bankruptcy Filings Decrease: Why? Shelter, Food, and Necessities of Life

Where Does Bankruptcy Fit When There Is No Money For Food? Bankruptcy filings continue to decrease according to a report by Epiq Systems in a recent article at Credit Slips by Bob Lawless. According to the blog, bankruptcy filings are down more than

Multiple forms of debt could mean bankruptcy

For debts ranging from back taxes to lawsuits, look at all your options before seeking bankruptcy.

Taxes on the sale of a fishy business

The tax issues involved in selling an LLC need to be sorted out before claiming a loss.