Greed. How did greed play out? Crisis of Credit Visualized is a great video by Jonathan Jarvis, over three quarters of a million hits so far. Sub-prime mortgages, securitized trusts, credit default swaps, collateralized debt obligations, mortgage brokers, investment bankers, credit freeze, it is all there. Mortgage brokers got paid a commission at closing, does [...]
April 2009
How can you get money from Citibank? Well, not by asking for it. Like the unsolicited credit card applications that used to flow to our mailboxes by the hundreds of millions every year, this offer from Citibank, to pay you to STOP using your card, is by invitation. Called the “Citi Partner Payment Program”, it [...]
Mortgage Law Network contributor David Leibowitz, along with Legal Aid Society of Milwaukee attorney Catey Doyle are training of hundreds of attorneys throughout the state of Wisconsin.
Texas Attorney General, Greg Abbott, charged JK Harris & Company, LLC, its owners and two related firms (JKH Financial Recovery Systems LLC and Professional Fee Financing Associates) today with “materially misrepresenting their ability to help Texans resolve their unpaid tax obligations.” The state enforcement action alleges JK Harris failed to provide promised services, misrepresented its [...]
Today, the Fourt Circuit Court of Appeals (Virginia, West Virginia, North Carolina, South Carolina, Maryland) ruled that the “hanging paragraph” of Section 1325 of the Bankruptcy Code protects negative equity financing in motor vehicles. Negative equity financing is when you trade in your vehicle but you owe more on the vehicle than the dealer will [...]
As credit card debt underlies many bankruptcy filings, it is not surprising that prospective bankruptcy filers want to know if they should stop paying credit card debt if they plan to file for bankruptcy. At first blush, the answer to this question should be obvious – why should anyone “throw good money after bad?” However, [...]
