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

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Celebrity Bankruptcy: Young Buck Faces Bankruptcy Liquidation

Rapper Young Buck’s (David Darnell Brown) Chapter 11 bankruptcy restructuring may no longer be feasible due to unresolved disagreements. The Chapter 11 bankruptcy trustee Jeanne Burton has ruled that the unresolved contract issues preventing the

The Daily Docket: U.S. Private Equity Firm Throws Saab a Lifeline

The owner of troubled car maker Saab Automobile, Swedish Automobile NV, said Thursday it has received an offer from U.S. private equity firm North Street Capital for funding of Saab. Read the Dow Jones Newswires story here in Daily Bankruptcy Review

Why Filing for Bankruptcy is a Better Choice than Credit Counseling

Credit counseling most often involves consolidating outstanding debts as much as possible and then developing a negotiated repayment plan for a reduced payment over time to all of your creditors. Credit counseling is often a first step taken by those

Foreclosure Myths: Urban Myths on how to STOP a Foreclosure or Void the Loan (really??)

The topics of "stopping the foreclosure" or "voiding the loan" have a life of their own, and many in reality simply are urban myths. They are good examples of "when" and "why" a lawyer should be consulted. I hear these topics all the time - in the

Rothstein Trustee Files Clawbacks Seeking Funds Spent on Jewelry and Cars

Herbert Stettin, the bankruptcy trustee appointed to recover assets for the benefit of victims defrauded by Scott Rothstein's $1.4 billion Ponzi scheme, filed several more clawback suits seeking the return of funds spent by Rothstein on expensive

Illinois Bankruptcy Attorney Describes The Hardship Discharge

Link A hardship discharge is a discharge in a Chapter 13 case where you have not completed all of your required planned payments under the code. You must have paid in at least what the creditors have received if you filed under Chapter 7. Thus, the

Bankruptcy Filing Fee Increases for Oregon and Washington

At its September 2011 session, the Judicial Conference approved changes to the filing fees schedules for Chapter 7 and Chapter 13 Bankruptcy Starting November 1, 20011, the filing fee for a Chapter 7 will increase from $299.00 to $306.00 and the

Security National Properties Files for Bankruptcy in Delaware, Citing Unpredictability of the Financial Markets

Introduction On October 17, 2011, commercial real estate developer Security National Properties Funding III, LLC ("Security National"), and certain affiliates filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the

Banks Can Eat Groupon's Lunch

Banks are ideally positioned to use their data on consumers' purchase histories and merchant relationships to send targeted daily-deal offers to customers. Groupon's random solicitations wouldn't stand a chance.

Reach investment goals in a bum economy

Experts offer ideas to skittish investors on how to stay focused, whether they want growth or safety.

$50,000+ in debt and looking for a way out?

Think you can handle debt management on your own? It's tougher than it looks.

Mortgage rates rest, opening door to refinances

It's easy to catch a desirable mortgage rate this week, because rates are barely moving.

Tax quagmire on real estate sale of liquidating company

You must use the mortgage balance as the value of the property upon liquidating the company.

Refinancing a 30-year mortgage? Switch to 15

You may be refinancing a 30-year mortgage, but there are good reasons to reduce the term.

US credit cards add chip and PIN security

Issuers are rolling out cards with chip and PIN technology. What does the trend mean for you?

Simple Stimulus Plan: Ease Up on Regulatory Clamp-Down

Policy makers and agency leaders should speak out in favor of simplifying rules and send a signal to examiners that they do not have to be overly conservative.

After my bankruptcy discharge, can I pay any of my creditors?

May a debtor pay a discharged debt after the bankruptcy case has been concluded? A debtor who has received a discharge may voluntarily repay any discharged debt – even though the debt can no longer be legally enforced. Sometimes a debtor agrees to

Las Vegas Mobster Museum Files for Bankruptcy

Associated Press A handgun that once allegedly belonged to mobster Bugsy Siegel on display at the Mob Experience Museum in Las Vegas. A purchase offer from an investor has become a financial lifeline that the cash-starved Las Vegas Mob Experience

National Conference of Bankruptcy Judges--10/13/11--The Not So Gloomy Economist

Thursday's lunchtime speaker was Gregory L. Miller, Chief Economist for SunTrust Banks, Inc. His presentation was not too gloomy but a bit disturbing. He began Saturday Night Live style saying, "I'm the economist and you're not." Miller predicted

History Shows Why CFPB Needs a Commission

The FTC, with its five-person commission, was attacked by Congress for implementing a vague congressional directive. A single director at the CFPB would fare even worse.