Mortgage loan modifications are dropping, according to a July 5, 2009 article in the New York Times,
Alan M. White, an assistant professor at the Valparaiso University law school in Indiana, analyzed data on 3.5 million mortgages written in 2005 through 2007. These mortgages are serviced by five of the nation’s largest loan servicing companies, including [...]

If you have a commercial lease in bankruptcy, it pays to reject it quickly according to the Eighth Circuit Bankruptcy Appellate Panel.
When a business or individual with a lease on commercial real estate, like a store or (in this case) farmland, files bankruptcy, the debtor or trustee has the right to assume or reject the [...]

GM Investors holding credit default swaps [CDS] may get a better return on their investment if GM files what would be history’s 4th largest bankruptcy.  A credit default swap is a derivative contract between two parties where one party pays the other party a fee and receives a payoff if the specified investment fails.  It [...]

Chapter 11 for large corporations has been much in the news lately, but Chapter 11 can be a valuable tool for individuals and small businesses, too.  For most individuals and small businesses, Chapter 7 and Chapter 13 are the first options considered, but Chapter 11 relief is not limited to large companies, or even to [...]

This is the third in a series of blogs about the Statement of Financial Affairs and the questions it asks.
Question 3 is broken down into three parts, (a), (b) and (c). Part (a) requires the listing of certain payments made to creditors within the 90 days before the case is filed if your debts are [...]

On April 30, the US Senate voted against S. 61, a bill that would let judges modify home mortgages in bankruptcy. Karen Oakes wrote an excellent article, “Congress Votes Against Consumers Modifying Home Mortgages In Bankruptcy” discussing the vote.
But some might wonder why the banking industry would fight so hard, and spend so much money, [...]

When a local grocery store chain filed a Chapter 11, I began fielding calls from people who had received notice of the bankruptcy filing from the court, along with a form to use to file a claim with the court.  It’s a confusing and unsettling thing to get in your mailbox.  So what do you [...]

Your employer’s bankruptcy puts your rights under a pension plan or a 401k retirement plan at risk.  You must take steps to protect yourself if your employer is in bankruptcy or chapter 11.  

Get a current summary plan description of the pension or retirement plan from the plan administrator  If you don’t have one, call [...]

Carolina Place Mall is open for business, even though its parent company filed a Chapter 11 bankruptcy.  I was there last night, and no one shopping there would know that there is any problem.  The company has stated that they are not closing the malls, and shoppers should not notice the difference.   Chapter 11 does [...]

This is the second in a series of blogs about the Statement of Financial Affairs and the questions it asks.
The first two questions in the Statement of Financial Affairs (SoFA) ask about income. Question 1 asks about income from employment or the operation of a business, and Question 2 asks about income other than from [...]