The Department of Justice has issued a statement indicating that it has filed and settled a number of lawsuits against Morgan Stanley and Bank of America for improperly foreclosing on properties owned by active members of the military. A total of $22 million was apparently secured as compensatory funding for the service members whose homes [...]
Posted June 17, 2011 by Amelie Hampton under Bankruptcy Articles
The number of personal bankruptcy filings for 2011 is on pace to be lower than 2010’s total, but many other economic indicators paint a still-gloomy picture of the nation’s overall economic recovery. Her Read more…
Posted May 30, 2011 by Amelie Hampton under Bankruptcy Articles
Companies providing debt solutions may have always been there, but during the financial crisis these programs can reduce credit card debt so this option is emerged considering the current situation. American consumers have always been negligent about their habits particularly with credit cards. It is mainly for this reason that the debt itself became so [...]
Tags: debt solutions
Posted May 25, 2011 by admin under Bankruptcy Articles
United States bankruptcy laws specifically prohibit modifications of primary mortgages for those in bankruptcy court, even when filers are in danger of losing their homes to foreclosure. Despite those restrictions, some news sources have reported that judges in certain parts of the country (primarily California, Louisiana and Texas) have been doing just that for filers. [...]
Tags: Mortgage, Mortgage Cramdowns
Posted May 16, 2011 by Amelie Hampton under Bankruptcy Articles
Fallout from the housing bust is still rocking the U.S. economy, but a recent survey conducted by Zillow.com, a mortgage and real estate database, suggests that more than half of the country (57 percent) still doesn’t understand how adjustable-rate mortgages work. This is problematic for anyone hoping to eventually buy a home and avoid foreclosure. [...]
Tags: Still, Still Don’t
Posted May 10, 2011 by Amelie Hampton under Bankruptcy Articles
A variety of factors have combined to put a new pinch on Americans, even as the economy is beginning to show signs of recovery, according to a number of news outlets. Here’s a look at the forces behind this new pinch and what it might mean for the typical American. Fuel: We’ve already begun to [...]
Tags: Americans, Americans Struggling
Posted May 4, 2011 by Amelie Hampton under Bankruptcy Articles
As any recent college graduate can tell you, it can cost serious money to attend college in the U.S. these days. And despite the recession and tightened lending standards in many markets, institutions offering student loans have shown little sign of slackening the pace at which they offer money to young scholars. One reason for [...]
Posted April 28, 2011 by Amelie Hampton under Bankruptcy Articles
A piece of legislation designed to keep consumer information private in online transactions was proposed in the Senate this week by John McCain (R-Ariz.) and John Kerry (D-Mass.). Unveiled Tuesday, the Commercial Privacy Bill of Rights addresses many issues of consumer privacy that the Obama administration has pushed for. In its current form, the proposed [...]
Tags: Senate
Posted April 24, 2011 by Amelie Hampton under Bankruptcy Articles
As I recently wrote, you don’t have to be a U.S. citizen to file bankruptcy in the United States. Just like many U.S. citizens, there are many non-citizens living legally in the United States who are drowning in debt and contemplating filing bankruptcy. One big difference between the two groups is that many of the [...]
Tags: Bankruptcy, Bankruptcy Hurt
Posted April 19, 2011 by Amelie Hampton under Bankruptcy Articles