Bankruptcy Blogs

Beware Fake Debt Collectors Using the Phone to Demand Payment for Phony Debts

06/30/12

illegal debt collection scamsABC News has recently run several stories about fake debt collectors from India posing as police officers to collect phony debts from vulnerable American

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The New Cramdown

06/29/12

For the past couple of years, I've been thinking that cramdown is dead as a policy solution. But I was thinking about cramdown as requiring legislation. It doesn't. We could start doing it tomorrow. Under current bankruptcy law, a Chapter 13 plan may be confirmed only if secured creditors receive their collateral, receive the value of their collateral, or consent to the plan.

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Bankruptcy Court Denies Recognition to Non-Debtor Releases Contained in Mexican "Concurso"

06/29/12
In a major decision interpreting chapter 15 of the Bankruptcy Code, Judge Harlin Hale has denied recognition of the provisions of the “Concurso” order obtained by Vitro, SAB in Mexico which would have released the liability of its non-bankrupt U.S.
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Capital One Leads New CFPB List of Credit Card Complaints

06/29/12

The Consumer Financial Protection Bureau has recently implemented a very user friendly database to show consumers which credit card companies have the most complaints filed against them.  Although the database was just put into place on the web, and is still apparently in beta format, it is interesting to see how many claims have come [...]

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Friendly’s Gets Poor Marks Post-Bankruptcy

06/29/12
Associated Press

Bankruptcy may have cured what ails Friendly’s balance sheet, but it still has some work to do in the kitchen,

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The Broke and the Beautiful: Octomom Redux Edition

06/29/12

This week on The Broke and the Beautiful, Nadya “Octomom” Suleman said she still believes in homeownership, and Lenny Dykstra pleaded guilty to bankruptcy fraud. Also, Curt Schilling’s videogame company is under investigation.

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Stockton, California Chapter 9 Filing - Another Outlier, Or Harbinger?

06/29/12

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way. The wave, however, has yet to materialize, and the bankruptcy filing of Stockton, California will likely not change this.   

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How Banks Can Meet Our Nation's Student Loan Challenge

06/29/12

Many borrowers with great credit can't get financing rates commensurate with their low risk. There's a major opportunity for banks to generate attractive returns by providing fairly priced student loans to these customers.

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The Daily Docket: Stockton Enters Bankruptcy

06/29/12

The city of Stockton, Calif., filed for Chapter 9 protection, The Wall Street Journal reports.

MF Global is proving to be catnip for distressed-debt buyers, according to a new report showing that more than $246 million of the failed brokerage’s debt changed hands last month. Read the Daily Bankruptcy Review article here.

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