I suppose nothing should surprise us anymore. Nearly half of American parents: have admitted that they have taken money from their children’s savings accounts, and 51 per cent said they did not even feel guilty about it. Read more: http://www.dailymail.co.uk/femail/article-2320857/Almost-HALF-parents-admit-taking-money-childrens-savings–51per-cent-feel-guilty-it.html#ixzz2TmCkLgb1 Follow us: @MailOnline on Twitter | DailyMail on Facebook This is not a poll, but a study, whatever that…
Bankruptcy can happen to anyone, or any company, it seems. Oreck Vacuum the latest well known name to file for bankruptcy protection. I am trying to remember the tag line in the ads, but I remember the former owner, David Oreck, making some kind of guarantee. The 50 year old company’s Chapter 11 filing…
“In 28 years of legal practice, I have rarely seen a consumer bankruptcy do a person any good.” so says Stephen J. Dunn of Forbes. So, it seems Mr. Dunn thinks I (picture on left) am a clown, like, say, Groucho Marx. (picture on right. Groucho was one of the great wits of all time,…
I love Detroit. Always have. And it is on the edge of filing bankruptcy. Cities cannot file Chapter 7 bankruptcy, and go out of existence. They cannot file Chapter 11 or Chapter 12 or Chapter 13 bankruptcy payment plans. They can file Chapter 9 bankruptcy, and more do every month since Stockton, California filed…
We are still reeling from the foreclosure crisis that followed the pop of the real estate bubble in 2008, a crisis that bankruptcy law does not really resolve. Bankruptcy law should have been changed to allow homeowners to cram down the first mortgage to the value of the house, but, well, if I had a…
You hear about big companies, GM, the airlines, et cetera, filing Chapter 11 to re-organize while they keep operating. But small businesses, even individuals, can file Chapter 11. It cost more than other chapters, and there is a boatload of paperwork, but it gives you greater control. Unless the court appoints a trustee, which is…
Casey Anthony in the news again for filing Chapter 7 bankruptcy. The media were mesmerized by her trial for murder of her own child. She was acquitted. She was convicted of four counts of lying to the government, but just got two of those overturned on appeal. Her bankruptcy filing claims she has no…
Many folks rely on their credit reports when filing Chapter 7 bankruptcy, so they don’t miss listing a creditor. Because, all bankruptcy chapters include ALL debts. And, being under oath in a federal court, which all bankruptcy courts are, good idea to tell the whole truth. Why would you want to leave off a debt…
RESPA stands for Real Estate Settlement and Procedures Act. Especially in Chapter 13 bankruptcy cases, you need to know the correct numbers on your mortgage(s). Some provisions relate to how mortgage companies must handle escrow accounts, and various notices they must provide, and the timing for same. My favorite part requires your mortgage company to…
I believe we have the most corrupt government in our history. They set up the real estate bubble, which led inevitably to the foreclosure crisis which is not over yet. They bailed out their bad guy friends at the banks and mortgage companies. While the bubble was building, our trusted public servants were able…
