News

RoomStore, Furniture Retailer, Seeks to Sell Assets in Bankruptcy - Transworld News

06/11/12

For individuals, Chapter 7 or Chapter 13 are the two debt-relief plans most often recommended by a North Carolina bankruptcy lawyer. Chapter 7 is a plan where the indebted person is required to sell-off their assets of value with the proceeds going to their creditors.

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North Dakotans Can Get Debt Relief through Bankruptcy - Transworld News

06/11/12

Although North Dakota has one of the lowest numbers of bankruptcy filings in the country many residents in the state still face economic troubles. Many individuals and businesses that are saddled with debt need relief and a bankruptcy attorney can offer ...

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FGIC says New York agency asks to take it over - Reuters

06/11/12

FGIC filed for bankruptcy in August of 2010 as a result of the financial crisis and a deterioration in the U.S. housing and mortgage markets. It was once the fourth-most active bond insurer. The issues that affected FGIC were widespread.

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Aggressive Debt Collection -- Who's in Your Wallet? - Huffington Post

06/11/12

The discharge issued at the end of a bankruptcy case makes this billing prohibition permanent for most debts. In a perfect world, Bank of America would have heeded this warning, and designed a software system to automatically 'red flag' bills ...

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Aggressive Debt Collection -- Who's in Your Wallet? - Huffington Post

06/11/12

The discharge issued at the end of a bankruptcy case makes this billing prohibition permanent for most debts. In a perfect world, Bank of America would have heeded this warning, and designed a software system to automatically 'red flag' bills ...

[more]

Workers Say World Trade Steel Supplier’s Survival on the Line - Wall Street Journal

06/11/12

Based in Wheeling, W.V., Wheeling Corrugating is among the assets RG Steel wants to put on the auction block this summer, subject to bankruptcy-court approval. RG Steel’s lenders are requiring the sale of the Wheeling Corrugating unit and RG ...

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ResCap Auction Rules Draw Watchdog Objection - NASDAQ

06/11/12

... valuable assets in bankruptcy is prompting pushback from a federal bankruptcy watchdog. U.S. trustee Tracy Hope Davis on Monday launched an objection to ResCap's sale process, insisting the rules and rewards laid out by the mortgage ...

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Rede Energia Restructures Local Bonds After Celpa Unit Defaults - Bloomberg

06/11/12

Celpa, based in Belem, Brazil, said May 7 that it will seek to raise 850 million reais ($441 million) through a bond sale and loans as part of a plan to recover from bankruptcy. The plan includes selling 650 million reais of local bonds ...

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US Trustee objects to ResCap sales procedures - Reuters

06/11/12

She said they would discourage bidders from participating. ResCap, the mortgage unit of Ally Financial, filed for bankruptcy in May with a plan to sell its mortgage servicing business for about $2.4 billion to Nationstar Mortgage Holdings ...

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U.S. Trustee objects to ResCap sales procedures - Reuters

06/11/12

(Reuters) - Residential Capital LLC needs to do more to ensure it is protecting consumer privacy for homeowners under bankruptcy law in the sales of its mortgage loan and servicing businesses, the U.S. Trustee said in court papers on Monday.

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