Bankruptcy Blogs

Power Balance Sold to Chinese Manufacturer

01/11/12

The Asian consumer markets are next up to test out the timeless sports truism: It’s all in the wrist.

The Chinese manufacturer that made thousands of Power Balance LLC bracelets got court permission to buy the California-based company after no other bidder put in a higher offer. That deal, valued at more than $8 million, enabled Contec Corp. to “buy” the company using a portion of the debt it was owed on a massive shipment of holograph-using bracelets.

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Citi Responds to Story on Its Facebook App

01/11/12

A letter to the editor in response to "Citi's Facebook App Exposes the Perils and Rewards of Social Media," published online Jan. 3 and in print Jan. 4.

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American Banker: Chase Has Halted Credit Card Collection Suits

01/11/12

Yesterday, the American Banker reported that Chase has stopped filing lawsuits to collect consumer debtors. Moreover, they did it quietly and quickly.

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The Daily Docket: Hostess Enters Bankruptcy

01/11/12

Hostess Brands Inc., the maker of Twinkies and Wonder Bread, filed for Chapter 11 bankruptcy protection Wednesday to confront burdensome debt and labor costs that it says have left it fighting to compete. Read the Daily Bankruptcy Review article here.

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Justice Calls for Foreclosure Mediation Support

01/11/12

The Justice Department's project on access to justice has issued a report summarizing current research on state foreclosure mediation programs, calling for more funding and support.  The report offers an excellent summary of the best available research on foreclosure mediation programs, including the very successful Philadelphia and Connecticut programs, that have participation rates as high as 60% to 70% of defendants, and whose participants achieve settlements

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Banks Should Stop Financing Payday Loan Sharks

01/11/12

The CFPB can and should impose safeguards against predatory payday lending institutions. And big banks should take heed and stop providing these lenders with lines of credit.

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Can I obtain a new loan while I am in Bankruptcy?

01/10/12

Often individuals in a Chapter 13 Bankruptcy ask if they can take on new debt during the years they are under a Plan of Reorganization. Either the car lease is up or a mortgage modification would help improve cash flow. You can incur new debt in Chapter 13 but you have to ask nicely first [...]

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Can I Obtain a New Loan While I am in Bankruptcy?

01/10/12

New Debt in Bankruptcy? Often individuals in a Chapter 13 Bankruptcy ask if they can take on new debt during the years they are under a Plan of Reorganization. Either the car lease is up or a mortgage modification would help improve cash flow. You can incur new debt in Chapter 13 but you have [...]

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