Bankruptcy Blogs

Bank Branches' Role Shrinks as Their Target Market Expands

06/04/12

When customers needed to access a branch weekly, the difference between being 5 minutes away and 20 minutes away from them was indeed a big deal. It is becoming less important by the day.

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Dimon's Seat on the NY Fed Board: Too Connected to Regulate

06/04/12

A significant reason Chase can't be regulated effectively is that its size, amplified by Jamie's loud voice, puts it above and beyond the reach of regulators.

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Share Some Music, Compromise Your Company

06/04/12

We are all aware of the dangers of not protecting our data. Seeing first-hand the actual threats in action brought home the impact of security breaches.

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Chapter 7 Bankruptcy in New Jersey: What Consumers Need to Know

06/04/12

Chapter 7 Bankruptcy in New Jersey When people think of personal bankruptcy, they are usually thinking of chapter 7 bankruptcy. Often referred to as “straight bankruptcy” Chapter 7 allows debtors to quickly discharge unsecured debts, such as credit cards and medical bills, while retaining their exempt assets. Although many have the mistaken impression that they [...]

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Pre Bankruptcy Planning Can Include New Debt For Proper Purpose

06/04/12

A common question during a pre-bankruptcy meeting with a bankruptcy client is whether a debtor can incur any new debt between the time he first meets his bankruptcy attorney and the filing date. The answer has two parts.

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The Daily Docket: Justice Department Presses Attorneys to Justify Fees

06/04/12
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The Justice Department has grown increasingly restless with attorney fees—often exceeding $1,000 an hour—paid by companies going through a bankruptcy reorganization.

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European Sovereign Debt Crisis Is a Wake-up Call for U.S.

06/04/12

Now is the time for fiscal discipline to maintain credibility in international financial markets. As Europe has shown, by the time a country reaches the crisis situation, fiscal austerity might be the best of many unappealing alternatives.

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11th Circuit - Debtors Can Strip Wholly Unsecured Second Lien In Chapter 7 Case

06/04/12

In McNeal v. GMAC Mortgage, LLC, et al, No. 11-11352 (11th Cir. May 11, 2012) (click here for .pdf) the issue before the Court was whether a debtor in a Chapter 7 case can strip a second priority, unsecured lien from her residence.  At least in the Eleventh Circuit, a debtor can strip the unsecured second lien.

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