The website providing details for a new student loan repayment program is up and running to provide information to borrowers anxious to get their student loan payments under control. The website, www.IBRinfo.org, provides information, a calculator and is a portal to further information. As of June 28, 2009, t the calculator did not appear functional, [...]
June 2009
Preparing the paperwork to file a bankruptcy is, generally, the next step after you have hired an attorney, met with him to discuss your options, and provided him with all of the information requested. The initial paperwork for a chapter 7 bankruptcy consists of the petition; the schedules and the statement of financial affairs. Additionally, [...]
Dairy farmers in Upstate New York are facing a crisis. While the cost of milk at the grocery store continues to climb, the price dairy farmers receive has not. Farmers are currently receiving $13.33 per hundredweight. This is $4.25 below the cost of production in New York, even in the most efficient dairy farms. Even the safety [...]
You may have purchased something from a company now in bankruptcy, and you have to make a warranty claim. If the company is in Chapter 11, it will very likely honor your claim for the good will it generates (you’ll tell your friends that it’s okay to do business with the company) even though the [...]
When an insurance policy pays a damage claim for a totaled car that is involved to a chapter 13, the bankruptcy trustee is required to hold excess money over the amount of the lender’s secured claim according to In re Feher, Southern District of Illinois case Bankruptcy Number 95-30444, Adversary Number 96-3133. Consequently, the money [...]
In the Southern District of Illinois Bankruptcy Court, one option permits the insurance company to pay the money directly to the car lender. Another option lets the debtor use the proceeds to purchase a substitute vehicle. The insurance money is property of the bankruptcy estate under contractual terms that make the money payable to the [...]
