Bankruptcy Blogs

Lying to the Bankruptcy Court: What Can Happen

07/14/12

Bankruptcy Court Judge Robert Mayer nailed a guy named Jon Mays this past week.  I was in the bankruptcy court on something else, and I saw it.

[more]

Libertyville Bankruptcy Lawyer Says Bankruptcy Is Not A Failure

07/13/12

Bankruptcy does not have to be a failure. Bankruptcy can be the beginning of a brand new start.  You can eliminate much or sometimes all of the debt that is bringing you down.  Debts such as medical bills, credit card bills, personal loans and other debts for different types of services can be eliminated.  Debts [...]

[more]

Nothing in Life Is Freeh

07/13/12
Associated Press
Louis Freeh

Louis Freeh’s investigations pack a punch, but at $850 an hour the ex-FBI director doesn’t come cheap.

[more]

Who Is John Galt?

07/13/12

Depending upon your political views, Ayn Rand’s revolutionary character John Galt is either friend or foe. But we can offer an objective answer: he’s a debtor.

A company named for the protagonist of Rand’s 1957 novel “Atlas Shrugged” filed for Chapter 7 bankruptcy liquidation Thursday, court papers show.

[more]

CFPB Should Stand for 'Choking Financial Professionals and Businesses'

07/13/12

Due to ever-increasing compliance requirements, consumers have already lost free checking. Now, the Bureau's sights are set on general purpose reloadable prepaid cards.

[more]

The Broke and the Beautiful: The Rock Edition

07/13/12

This week on The Broke and the Beautiful, Dwayne “The Rock” Johnson is accused of being a fraud “co-conspirator,” and “Real Housewife” counterpart Tareq Salahi’s lawsuit was thrown out. Also, rapper Young Buck’s possessions will be auctioned by the IRS.

[more]

The Daily Docket: Peregrine Outlines Liquidation Strategy

07/13/12

The trustee overseeing Peregrine Financial Group Inc. on Thursday outlined plans for the liquidation of the failed U.S. brokerage, seeking court permission to run the business and retain some staff. Read the Wall Street Journal story here.

[more]

Payday Loans and the Tribal Sovereignty Model

07/12/12

Think about what happens when you pit tribal sovereign immunity against effective consumer protection laws. In my view, no one wins. Yet payday lenders are now very actively seeking tribes with whom to partner, in order to get the benefits of tribal sovereign immunity.  As one might expect, the payday lenders make out big and in most cases, the tribes get very little, at least so far.

[more]

Strange Bedfellows Unite Against Antiquated ATM Signage Rule

07/12/12

The only beneficiary of this well-intended but misguided regulation appears to be a small group of lawyers bringing costly lawsuits.

[more]

FSOC Must Step In and Help with Compliance Chaos

07/12/12

When smaller financial institutions, such as credit unions, are inundated with regulations from multiple agencies simultaneously, their ability to meet the needs of members is hampered and services are curtailed.

[more]