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Archive for January 4th, 2009

New York Times Reports "Credit Card Companies Willing to Deal Over Debt" »

On January 2, 2009, the venerable New York Times published an article entitled Credit Card Companies Willing to Deal Over Debt. In this article journalist Eric Dash notes that:
After helping to foster the explosive growth of consumer debt in recent years, credit card companies are realizing that some hard-pressed Americans will not be able to [...]

Spending smarter and saving more – just not all of us at once! »

With the economic downturn and less income to go around, our natural instinct is to reduce spending.  And, by all means, we should.   However, if we all stop spending at the same time, we could make matters worse. 

Three Biggest Exceptions to Means Testing in Bankruptcy »

It used to be that there were two main exceptions to having to pass the “means test” when filing for bankruptcy under the new laws enacted in October, 2005.  Recently, a third large exception was added.
Prior to October, 2005, filing for bankruptcy did not require form “b22″ or taking a means test.  Instead of this [...]

Utah State Law Library Cites BLN »

A shout out to the Utah State Law Library blog who cited to the Bankruptcy Law Network”
“The Bankruptcy Law Network is a great online resource if you have questions about bankruptcy and want information from a reputable source. The web site content is created and vetted by bankruptcy attorneys and consumer advocates from across [...]

Chapter 11 Debtor in Possession »

In a Chapter 11 bankruptcy case, the debtor, the person or company that files the case, is a debtor in possession.
The debtor in possession, or D.I.P, has the power to keep running the business.  It also imposes duties and powers on the debtor.
The United States Trustee’s office has guidelines for the duties of a debtor [...]

Bankruptcy: An Acceptable Resolution For Financial Strife »

Just “walk away.”  That’s the title of a recent Newsweek article by Jane Bryant Quinn, normally a conservative financial writer.  The article recommends filing for bankruptcy in some circumstances, and doing it sooner rather than later.
Ms. Quinn discusses the humiliation often associated with filing for bankruptcy and points out, correctly, that that the purpose of [...]

Tough Times in the Heartland – U of I Extension Offers Answers »

The University of Illinois Cooperative Extension Service office set up a financial education website that provides information, advice and tips on how to organize your finances and avoid costly credit traps.
www.toughtimes.illinois.edu
The site shows you how to compare the cost of borrowed money by looking at the Annual Percentage Rate APR on loans.  You can learn [...]

Estimate Your Credit Score Instantly »

Check out Credit Score Compass on the credit.com website.  It is a free online tool to estimate your credit score instantly before you apply for credit.
The estimated score does not count as an inquiry on your credit record.  In fact, you can estimate your credit score without inputting your name or any identifying information.
You are [...]