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ABI Blog Exchange

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

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Do I Still Owe Secured Debts (Mortgages, Car Loans) After Bankruptcy?

Yes and no. The term “secured debt” applies when you give your lender a mortgage, deed of trust, or lien on the property as collateral for your loan. The most common types of secured debts are home mortgages and car loans. The treatment of secured

SJC: No Spousal Equity in Bankruptcy

The Massachusetts Supreme Judicial Court ruled Monday that spouses do not share the equality they would see in other proceedings, such as divorce, when one of them has a matter before a bankruptcy court. Justice Judith A. Cowin’ s decision...

TOP TEN Widespread Consumer Law Violations!

The National Consumer Law Center has published its 2011 list of TOP TEN consumer law violations. Each of this year’s TOP TEN consumer law violations entitle Coloradans to significant recoveries – including reimbursement for your attorney’s fees

Will My Utilities Be Turned Off If I File Bankruptcy in Colorado?

Thanks to those who participated in this week’s Legal Q&A Forum! Our winner is Katie K. from Boulder, who asks: “Will My Utilities Be Turned Off If I File Bankruptcy in Colorado?” If you’d like your question to be featured in our Weekly Legal Q&A

Unable to pay its debts - the balance sheet test revisited

The balance sheet test for insolvency (section 123(2), Insolvency Act 1986), first addressed by the High Court in August 2010, has been revisited on appeal. The first instance conclusion that each case should be decided on its legal (rather than...

How Foreclosure Works

Foreclosure occurs when you fall behind on your house payments and your lender takes legal action to sell your house. Foreclosure works differently in different states. In some places, a lender has to file a lawsuit to foreclose (called “judicial

The Need for Bankruptcy

Philip Brewer, a Senior Writer for Wise Bread, recently wrote a review of the Road Out of Debt. I really enjoyed his review because of this thoughtful reflection on frugality versus filing for bankruptcy. Please take the time to read this and many

New Foreclosure Mediator Contract for Miami-Dade

Last week, Florida’s 11th Circuit Court awarded the state’s largest foreclosure mediation program to a new manager, Tampa-based not-for-profit Oasis Alliance Corporation. For the past two years, The Collins Center for Public Policy, a Tallahassee

Which Debts Will I Still Owe After Bankruptcy?

When your bankruptcy is completed, many of your debts are “discharged.” This means they are canceled, and you are no longer legally obligated to pay them. However, certain types of debts are NOT discharged in bankruptcy. The following debts are among

TOUSA II: LENDERS WIN AGAIN!

Last month we reported on the overwhelming victory of the Transeastern Lenders in their appeal of the decision by the United States Bankruptcy Court for the Southern District of Florida ordering them to disgorge almost $500 million in loan repayments