Bankruptcy Blogs

Debt Buyers Must Follow Rules Too, Says Missouri

01/25/12

When credit card debt goes bad, banks sometimes sell it to vulture investors at a steep discount.  The vulture debt buyer then often tries to sue on the account to collect more than they paid.   And their lawsuits are often the final straw forcing folks bankruptcy, where the debt buyer usually wants a share of any repayment too.

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CFPB Must Work with Legit Online Lenders, Stop Outlaws

01/25/12

Richard Cordray is right to crack down on illegal practices in payday lending. It is essential that his agency also ensure consumers continue to have online access to emergency credit products.

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Small Banks Should Take a Page from Citi's Rewards App

01/25/12

The value of a Facebook "like" to your bank is debatable; but the value to a user when your bank offers nothing of value is definitely zero.

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SHOW ME THE BANKRUPTCYYYYYYYYYY!

01/24/12

You probably are more familiar with that line in its original form, “Show me the moneyyyyyyyyyyy!” as screamed over the phone by “Jerry Maguire” the sports agent played by Tom Cruise in the movie of the same name.  Well, now the real life sports agent that inspired the Jerry Maguire character, Leigh Steinberg has declared [...]

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Why Do Prepaid Debit Cards Have Such a Bad Rap?

01/24/12

I naively thought that Suze Orman's new prepaid offering would help turn the tide of negativity. Instead, it has had the opposite effect, creating a seemingly endless echo chamber about the evils of prepaid.

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Lee Farkas Seeks Retrial

01/24/12
Bloomberg News
Lee Farkas

Former Florida mortgage lender Lee Farkas, the government’s biggest criminal conviction of the financial crisis, wants a retrial.

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Chapter 7 Myths

01/24/12

As a Dallas bankruptcy lawyer, I face clients each day that carry a lot of fear over the bankruptcy process. While filing either type of bankruptcy can be scary for anyone, Chapter 7 does have some additional considerations that tend to make people shy away. It is difficult to qualify Many people have heard that [...]

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Smashed Solyndra Assets: Scandal or Standard Procedure?

01/24/12
Bloomberg News

A Republican member of Congress declared it an “outrage.” Fox News

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And the Wind Blows Wild Again

01/24/12

I wade into the chapter 11 professional fee debate again, this time in the context of the UST's proposed guidlines for attorneys fees in big cases.

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