Bankruptcy Blogs

We Have Plenty of Tools to Fix Housing Mess. Let's Use Them

07/17/12

Much more can be done with proven strategies like short sales, home leaseback programs and refinancing for underwater borrowers.

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What's On at a Courthouse Near You

07/17/12

In addition to a post last week broadly raising visitors' physicial interaction with courts, an earlier post discussed variation in the website availability of daily calendars for U.S. bankruptcy courtrooms.

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The Daily Docket: Appeals Court to Review Jefferson County Sewer Ruling

07/17/12

An appellate panel has agreed to hear pleas from Wall Street banks who want power restored to John Young, the sewer expert who took over Jefferson County, Ala.’s, system when its leaders got tangled in a corruption scandal but who was ousted earlier this year by the county’s bankruptcy judge. Read the Daily Bankruptcy Review article here.

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OCC Worried About the Wrong Banks and the Wrong Risks

07/17/12

The regulator's recent report highlights supposedly high-priority concerns about small banks without mentioning the size, concentration and real risks of the megabanks.

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Chapter 13 Bankruptcy Strips Second Mortgage Notwithstanding Prior Chapter 7 Discharge: Court Holds

07/17/12

Chapter 13 bankruptcy offers debtors the opportunity to strip off a wholly unsecured second mortgage on their primary residence. Most courts have held that debtor’s mortgage is stripped from his house when he completes the Chapter 13 plan and gets his Chapter 13 discharge.

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GSE Article Shows How Little Writer Has Learned

07/17/12

In the United States, outlining a different narrative about what happened in the financial crisis opens one to political attack.

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Chicago Bankruptcy Attorney Answers 3 Often Asked Questions

07/17/12

1. Will I ever get credit cards again? Absolutely, you will have the opportunity to get credit cards again.  But a debtor who has just filed for bankruptcy should be very wary of falling into another bad deal with high interest rates, high yearly maintenance fees and the like.  A credit card company will look at [...]

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Chicago Bankruptcy Attorney Answers 5 Typical Questions

07/17/12

1. I owe back child support.  Will my bankruptcy eliminate that debt?

Child support is one debt which is never dischargeable.  Filing Chapter 7 will not eliminate your obligation to pay that back child support.  This is absolute.

2. Are you sure that I will not lose my home?

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Chicago Bankruptcy Attorney Answers 5 Typical Questions

07/17/12

1. I owe back child support.  Will my bankruptcy eliminate that debt?

Child support is one debt which is never dischargeable.  Filing Chapter 7 will not eliminate your obligation to pay that back child support.  This is absolute.

2. Are you sure that I will not lose my home?

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Gaming Manufacturer, GameTech International, Files for Bankruptcy in Delaware

07/16/12

Earlier this month, GameTech International, Inc., and various related entities (collectively, "GameTech"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. According to GameTech's Declaration in Support of its Chapter 11 Petitions (the "Decl."), the company entered the electronic bingo business in 1994  and the video lottery terminal ("VLT") and slot machine business in 2007.  Decl.

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