Zombie Debt Abuse Continues

Zombie debt is debt that never dies. It keeps getting sold and re-sold. How does Zombie Debt affect you? Most consumer debt that is in default is now sold to bottom feeding third party zombie debt buyers. I had a case where my client sued a debt collector for illegal harassment. That defendant said, hey,Continue Reading

More “Debt Relief” Lawyers Shut Down

The Consumer Protection Finance Bureau (CPFB) nailed some debt relief lawyers for FRAUD in tricking consumers into parting with their money for “debt relief.” Which turned out to relieve them only of their money and enrich the debt relief lawyers in the firm. What Is Debt Relief? Debt relief lawyers, and other scammers, use scareContinue Reading

Zombie Debt, FDCPA, and Bankruptcy

Zombie debt is debt that never dies. What keeps zombie debt alive? The multi-billion dollar debt buying industry. We live in an age of core competence and outsourcing. So, VISA and Mastercard and other big creditors make minimal efforts to collect overdue accounts, and then, sell them. For pennies on the dollar, of course. WhyContinue Reading

More Debt, More Debtor Harassment

More consumer debt always leads to more bankruptcy filings. Does more debt lead to more debtor harassment? The November data are in, and, yes, consumer debt, that month of big Christmas shopping, went way up. Having read the latest Consumer Protection Financial Bureau consent judgment against a debt collection law firm, I wonder if there isContinue Reading

Bankruptcy and Interest Rate Increase

The Fed increased interest rates 25 basis points,   that is, .25%, and, the banks followed along. Lots of consumer credit is tied to “prime” rates set by banks. Which uniformly go up when the Fed raises its rate, which is why the Fed raises that rate. How Much Consumer Credit Is Tied To PrimeContinue Reading

Consumer Bankruptcy Updates

Bankruptcy news

Well, updating the last post, Teresa Giudice won the motion to approve the settlement splitting proceeds of her yet to conclude malpractice lawsuit against her bankruptcy attorney with her creditors. What’s the Bankruptcy News? Rowan & Martin’s Laugh In TV had a weekly sketch: “What’s the news?” so that is why I stuck the pictureContinue Reading

Thankful For Bankruptcy

thankful for bankruptcy

Sure, I am a bankruptcy lawyer, why would I not be We all should be, not just us insolvency professionals.. Why Thankful for Bankruptcy? Because, in short, bankruptcy is good for the economy. Because, starting over is a good thing to be able to do when a business fails. Or a consumer. Walt Disney isContinue Reading