Bankruptcy Blogs

Virginia Bankruptcy Exemptions

04/21/12

“What will they take?”

When you file a Chapter 7 bankruptcy, the Chapter 7 trustee can take and sell your non-exempt assets.  (The proceeds are used to pay your creditors.)

Most people don’t have “non-exempt” assets, so the trustee doesn’t take and sell anything.  But that happy result often requires careful planning and detailed knowledge of exemption law.

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Some Thoughts on the Student Loan Debt Problem

04/20/12

The student loan issue is increasingly coming the front-burner, both domestically and abroad. I haven't blogged about it before (and it's worth noting how little scholarship there is on student loans compared with say mortgages or credit cards). So here are some initial thoughts by way of encouraging a less muddled conversation on student loan debt.  

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The Broke and the Beautiful: Boom Boom Pow Edition

04/20/12

This week on The Broke and the Beautiful, a former Black Eyed Peas manager has filed for bankruptcy, Gary Busey is giving out tax tips a little too late, and Lenny Dysktra has nailed a spot in the Los Angeles County Jail.

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Bankers Should Take a Cue from Manufacturers

04/20/12

Few managers manage costs. Instead, they manage the elements around cost, such as headcount. That never illuminates how work can be done differently to create permanent operating efficiencies.

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The Daily Docket: Judge Says Union’s Pension Stance Threatens Hostess

04/20/12
Agence France-Presse/Getty Images

The judge charged with determining whether Hostess Brands Inc.

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CFPB Stepping into Vigilante Territory

04/20/12

If the CFPB includes enforcement lawyers on compliance examinations it will turn prudential supervision on its head.

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House Banking Panel Cynically Uses Scare Tactics, Symbolic Votes

04/19/12

First the Republicans pass a bill they must know had zero chance of enactment, misleadingly claiming it will cut the deficit. Even more absurdly, they then compare the Office of Financial Research to Big Brother.

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An Idea to Limit Body Attachments

04/19/12

As many Credit Slips readers will know, so-called "body attachments" allow a creditor to haul a judgment debtor into state court if the debtor fails to respond to court summonses to answer questions about the debtor's financial affairs. It is a highly coercive tactic and was originally intended as a last resort against a recalcitrant debtor. Today, it is an overused tactic that intimidates debtors who often understand only that they have been arrested because they have an unpaid debt.

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Bankruptcy Leaders Call for Chapter 11 Overhaul

04/19/12
Getty Images

In the era of the iPhone, businesses that are struggling to survive turn to a bankruptcy process that was invented during the time of typewriters.

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Continued Deceptive Marketing Shows Need for Cop on the Beat

04/19/12

Particularly vexing is one bank's requirement that cardholders sign up for a payment protection service before receiving materials describing it. Hawaii deserves praise for protecting residents from these questionable practices.

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