This afternoon I heard a radio ad for one of those debt settlement companies. It was a company that apparently has the information that “the credit card companies don’t want you to know.” I have heard this ad many times before, but this time it had a twist. The ad implied that if banks received [...]
March 2009
Do it yourself transfers of real estate to the younger generation can result in the loss of the family home in bankruptcy. One of the powers granted Chapter 7 trustees is standing as a bona fide purchaser for value (b.f.p.). That’s legalese for an innocent buyer who has no reason to know that title is [...]
Some believe that the March 10, 2009 rise in the stock market is just a dead cat bounce. If the rise is just a dead cat bounce than this rise is just temporary and the credit freeze may not be released. Steve Forbes warns that we should not jump to conclusions that the recession/depression is [...]
Last week, the House of Representatives passed H.R. 1106 (Helping Families Save Their Homes in Bankruptcy Act 2009). Now, the fight begins in the Senate, and it looks like the gloves are going to come off for this fight. Opponents of the bill have been lobbying Congress very hard, and the tsunami of lobbyists converging [...]
No one can say the government lacks a sense of humor. A sense of production values or a decent budget, sure. But they do sometimes go for the funny. This week the Federal Trade Commission released a video parody of the popular FreeCreditReport.com musical commercials. You can see the video here (too large to upload [...]
Senator Richard Durbin just introduced S 500 called the “Protecting Consumers from Unreasonable Credit Rates Act of 2009″. The bill would limit consumer credit rates to a cost of no more than 36% annual interest. This would include any fees and other charges. Senator Durbin, an Illinois democrat and assistant majority leader, is a friend [...]
