Bankruptcy Blogs

The Daily Docket: Cerberus Is Still Interested In Innkeepers

08/24/11

Cerberus Capital Management LP remains interested in buying 64 Innkeepers USA Trust hotels for a lower price than the private-equity firm had agreed to in a previous deal, The Wall Street Journal reports.

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Should I Convert My Chapter 13 to Chapter 7?

08/24/11

Most Chapter 13 cases are not successfully completed and discharged.  This means that there are many individuals who file for Chapter 13 and find themselves unable or unwilling to continue.  Can these filers convert to Chapter 7?  Should they? If you are eligible for Chapter 7 bankruptcy, section 1307(a) of the Bankruptcy Code permits you [...]

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Reverse Mortgages: A Popular Way to Finance Retirement – But Beware of Scam Artists

08/24/11

Reverse Mortgages: A Popular Way to Finance Retirement – But Beware of Scam Artists Many seniors enter their “golden years” with bleak prospects because of increasing debts, poor debt management and decreasing buying power. One thing many seniors have in common is their main asset — their home. Many elderly people own a home, and [...]

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Countrywide Home Loans Will Pay $108,000,000 to Customers Affected by its Unfair Lending Practices

08/24/11

Countrywide Home Loans Will Pay $108,000,000 to Customers Affected by its Unfair Lending Practices – and Give Adequate Notice of its Charges to Debtors in Bankruptcy   This Department of Justice News Release is Reprinted Here as an Educational Service It is always prudent for homeowners to check with a lawyer specializing in financial rescue [...]

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Summer's Over

08/23/11

And I'm back up on Dealbook, this time about the Greek-Finish fiasco.

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Does Owning Florida Real Estate Confer Eligibility To File Bankruptcy In Florida?

08/23/11

An attorney called me today to ask me about his client who had moved from Florida to Ohio a few months ago to take a new job and establish a new residence The same client still owned a piece of real property in Florida which was his former Florida homestead. The attorney understood that the client would not be eligible for Florida exemptions because the debtor no longer domiciled in Florida. The question was whether or not the client could file bankruptcy in Florida because he retained ownership of Florida property.

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Low Rates Mean It's Time for Some Old-School Lending

08/23/11

Negative interest rates is a call to arms. Japan hesitated and sank into the "lost decade." The solution is inescapable: American banks must start lending.

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Want a Successful Discharge? Things NOT to do Before a Bankruptcy

08/23/11

Things you shouldn’t do right before filing for bankruptcy If you’ve made the decision to file for bankruptcy, you’re making the choice to get back on track to financial stability. If you know you’re going to file soon, there are a few things you should remember not to do, as they will damage your bankruptcy [...]

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Downgrade Was a Statement on Stewardship, Not Capacity

08/23/11

The downgrade was a judgment on the stewardship, and not on the capacity of our federal government. That does not mean, however, that the downgrade is without consequence.

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