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

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Chicago Bankruptcy Lawyer Helping Stop Garnishments

Link If you are currently having your wages garnished, help is available. Instead of losing that 15% to a creditor, you can have that amount added back into your paycheck. Whether you are seeking a fresh start under Chapter 7 bankruptcy or

Even If I File Bankruptcy, Can I Repay Friendly Lenders?

Filing bankruptcy in Colorado will “discharge” (or eliminate) most of your debts. Although you may not care about discharging your credit card debts in bankruptcy, you may feel badly about doing the same thing to your friends, family, or other people

Massachusetts Bankruptcy Court Refuses to Redact Court Transcript

Massachusetts Bankruptcy Court hearings are generally open to the public, Boston bankruptcy lawyers,debtors, creditors and occasionally the media. Transcripts of the proceedings are generally available as well. Some content is generally redacted, or

Fighting Fraud in Bankruptcy Act Introduced

On Tuesday, May 24th, Senator Patrick Leahy (D-VT) introduced legislation to strengthen the tools available to US Bankruptcy Trustees to protect American homeowners from creditor fraud in bankruptcy court. Leahy introduced the Fighting Fraud in

Looks Like Fred Wilpon Picked the Wrong Week to Quit Drinking

The well known travails of Fred Wilpon, the principal owner of the New York Mets, have all converged this past week. He, his partner Saul Katz and their families and affiliated enterprises (the "Wilpon/Katz Group") lost several hundred million

Justice for Soldiers Who Lost Their Homes But Changes to Legal System Needed

A bank's foreclosure on U.S. Army Sgt. James Hurley's house presents another reason- in a long line of reasons- that the American legal system must be revamped. Maybe, our legal system should be more like the British system where the loser has to pay

Receiverships in Commercial Real Estate: Some High Level Tips

The use of a receivership probably is the most significant change from other down turns experienced by me in the last 25+ years of commercial real estate finance. Clearly, a receivership is not "new" in states where judicial foreclosure can take

Reaffirmation Requires Written and Signed Contract Between You and Your Creditor

I have written before about the pros and cons of entering into a reaffirmation agreement with one or more of your secured creditors. On the plus side, reaffirming a secured debt gives you a degree of certainty – you are once again in a contractual

District Court Affirms In Re Rahim: Chapter 7 Business Debtors' Case May Be Dismissed Under § 707(a)

In re Rahim, E.D. Mich., May 23, 2011 (Case No. 10-15123, Hon. Sean F. Cox). Previously on this blog, we discussed In re Rahim, a case in which Judge Rhodes dismissed the Chapter 7 case of debtors with primarily non-consumer debts "for cause" under

A Closer Look at the Jackson Hewitt Bankruptcy

Introduction On May 23, 2011, Jackson Hewitt Tax Services Inc. ("Jackson Hewitt") filed a petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware. This post will look at Jackson Hewitt's operations, why the company