Bankruptcy Blogs

Durbin Doomsday Never Came

03/05/12

Durbin was a non-event. If reducing credit card interchange by 1%, roughly half, will wipe out free rewards, then it will cost banks nearly nothing. Definitely non-fatal.

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The Daily Docket: Lehman Battling Former Swiss Subsidiary

03/05/12

Lehman Brothers Holdings Inc. is locked in a high-stakes battle with its former Swiss derivatives subsidiary over billions of dollars in guarantees and intercompany loans, a legal dispute that threatens to delay recoveries for creditors who have been waiting more than three years to be paid following Lehman’s collapse. Read the Daily Bankruptcy Review article here.

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The Little We Know About Foreclosure Reviews Is Troubling

03/05/12

The reviews, mandated by regulators, could turn up errors made by the mortgage servicers' auditors. What if the firm doing a foreclosure review previously audited the same client?

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No Mortgage Deal but Banks get Free Pass

03/05/12

The national mortgage settlement among federal and state regulators and major banks, announced with much fanfare on February 8, still has not produced an actual written settlement agreement, judging by the dead link on the settlement web page.  That hasn't stopped the Treasury Department from announcing that Chase and BankofAmerica will receive millions in HAMP payments previously

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The Credit Counseling Requirement in Bankruptcy

03/04/12

Before a case can be filed by an individual under Chapter 7 or Chapter 13, the individual must submit to a credit counseling session states Gurnee bankruptcy attorney.  A credit counseling session is a one-hour session that can be done over the telephone or online whereby a credit counselor approved by the office of the [...]

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Evanston Bankruptcy Attorney On How Filing Effects Utility Services

03/04/12

If you are currently behind on one of your utilities when you file a bankruptcy, we want to list that utility on your bankruptcy schedules, states Evanston bankruptcy attorney David Siegel.  The utility company will then get the bankruptcy notice, it will wipe out any prepetition debt and it will restore service or continue service [...]

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