Bankruptcy Blogs

According to Mundelein bankruptcy lawyer David Siegel, the meeting of creditors is a meeting between the trustee, the debtor that has filed the bankruptcy case and any creditors that decide to show up for this meeting.  At this meeting the debtor will be questioned under oath by the trustee in the case regarding the bankruptcy petition and its truthfulness and accuracy.  In many cases, creditors will not show up to question the debtor even after they have been given notice. 

Chapter 13 bankruptcy lawyer David Siegel states that Chapter 13 allows a person to reorganize their debts and pay back creditors on a monthly payment plan for a period of 3 to 5 years.  During the Chapter 13 repayment plan, the person is protected by the automatic stay in bankruptcy meaning that the person who filed the Chapter 13 bankruptcy will be protected from any lawsuits, communications or collection efforts from the creditors trying to collect on debts owed to them.

It's too easy to blame the agency. With a job as complex as the FAA's, but less than a tenth of the staff, the OCC for practical and philosophical reasons relies on banks to manage and monitor risk.

The Basel III capital requirements must be applied consistently across borders. It'll do a lot more to deter reckless risk-taking than micromanaging banks through measures like the Volcker Rule.