Bankruptcy Blogs

Bell County Kentucky County Clerk Becky Blevins files for Chapter 13 bankruptcy

07/03/11

Bell County Kentucky County Clerk Becky Blevins files for Chapter 13 bankruptcy. Bell County Kentucky Court House photo courtesy of W. Marsh on Wikimedia Commons. Another elected official has filed for Chapter 13 bankruptcy.  This time it is Becky Blevins, Bell County Kentucky County Clerk. Her filing looks very ordinary and but for her status [...]

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Wire Transfer Fees

07/03/11

I recently received a reimbursement payment from an Israeli university for some travel expenses for a talk.  The reimbursement was for $553 and was done via wire transfer.  To my surprise, my account was only credited with $525.  $28 was taken out as a fee.  I inquired with my bank about this, and they said that they didn't charge the fee--it must have been an intermediary bank.  But the wire transfer receipt didn't indicate any intermediary.

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Chapter 7 Trustees are Wolverines

07/03/11

Explaining the differences between Chapter 7 and Chapter 13 bankruptcy can be difficult.  There are the obvious ones: Chapter 7 doesn’t involve payments to creditors, and Chapter 13 does.  And you can cure your mortgage arrears in Chapter 13 but not in Chapter 7. And there are many others. But what about the differences in [...]

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A Template for MBS Settlements and How Safety-and-Soundness Regulation Is Incompatible with Law Enforcement

07/02/11

Over the past couple of years, the Massachusetts Attorney General's office has reached settlements with a number of major banks regarding mortgage securitization. These settlements has received very little notice in the press, but I think they provide a real template for future AG settelements and are worth examining. 

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Can My Chapter 13 Plan Be Changed If Something Happens?

07/02/11

A Chapter 13 Bankruptcy last a minimum of 36 months, and more frequently lasts for 60 months. During that 36 to 60 month time frame, the Debtor will be making monthly payments, known as Plan payments to the Trustee. So it should not come as a surprise that things can happen that can have an [...]

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The Politics of the Durbin Rulemaking

07/01/11

It goes without saying that I think the Fed did a real jerk move on the Durbin Amendment rulemaking. But the more interesting issue is why? 

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BoA Settlement and Servicing

07/01/11

Yves Smith has a provocatively entitled post about the BoA MBS settlement.  Yves appropriately excoriates Bill Clinton for saying some plain old stupid things about the settlement (namely that it is going to have a meaningful impact on principal reduction mods--it ain't and can't.

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Lower Down Payment Offered to New Clients To Start Chapter 13 Cases

07/01/11

My law office has been very successful handling Chapter 13 cases, that is, so long as our clients do their part by making the required trustee payments, the majority of our clients have their plans confirmed by the Bankruptcy Court.

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