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 [...]
Sunday, January 4, 2009
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.
In bankruptcy, the means test controls. There are some exemptions, however. Read on.
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 [...]
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 [...]
Effective January 1, 2009, and incidentally, over the amendatory veto proposed by Illinois Governor Rod Blagojevich, a special Homeowner Notice must be attached to all summonses in mortgage foreclosure cases informing the homeowner that the lawful occupants have the right to live in the house until the judge orders possession. Homeowners must be advised as [...]
