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» Free Evaluation |
Welcome to the Bankruptcy Forum!
Bankruptcy was designed to resolve debt and stop foreclosure and lawsuits.
Ask a bankruptcy attorney whether Chapter 7 or 13 bankruptcy could help you.
 FREE BANKRUPTCY EVALUATION FORM
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Seven lean years: No recovery till 2016 |
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Sep 03, 2010 - 6:13 AM - by catleg
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Aug. 31, 2010
Summer of recovery? Dead. How dead? Remember Genesis? The Seven Lean Years? Add seven years to the handoff from Bush to Obama in early 2009 and you get no recovery till 2016. Get it? No recovery till the end of Obama's second term, assuming he's reelected -- a big if.
"The idea behind 'seven lean years' is that it is unrealistic to expect to overcome the several problems facing most developed countries, including the U.S., in fewer than several... [Read More]
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6 Replies | 81 Views
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Banks’ Self-Dealing Super-Charged Financial Crisis |
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Aug 31, 2010 - 5:38 AM - by catleg
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August 26, 2010
Over the last two years of the housing bubble, Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history.
Faced with increasing difficulty in selling the mortgage-backed securities that had been among their most lucrative products, the banks hit on a solution that preserved their quarterly earnings and huge bonuses:
They created fake demand.
A ProPublica analysis shows for... [Read More]
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1 Reply | 97 Views
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Sponsor |
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Mar 14, 2009 - 6:34 AM - by laz
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0 Replies | 213 Views
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Chex Systems Reports Woman Dead Even Though She Was Very Much Alive |
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Aug 31, 2010 - 4:57 AM - by keepinitreal
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August 31, 2010
Judy Rivers went to the bank with a simple request in April: She wanted to open a safe deposit box. The response, while equally simple, was a complete surprise. The bank turned her down. Why?
She was dead.
At least that's what the bank's security systems indicated. Sorry, a bank official said, we can't open an account for you. Rivers asked more questions but got only vague answers. An outside company indicated there was a problem with... [Read More]
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8 Replies | 119 Views
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Procrastination on Foreclosures, Now 'Blatant,' May Backfire |
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Aug 30, 2010 - 5:38 AM - by catleg
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August 27, 2010
Ever since the housing collapse began, market seers have warned of a coming wave of foreclosures that would make the already heightened activity look like a trickle.
The dam would break when moratoriums ended, teaser rates expired, modifications failed and banks finally trained the army of specialists needed to process the volume.
But the flood hasn't happened. The simple reason is that servicers are not initiating or processing... [Read More]
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14 Replies | 420 Views
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Devalued Homes Anchor Prospective Job Seekers |
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Aug 26, 2010 - 4:58 AM - by keepinitreal
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August 26, 2010
With unemployment high and jobs scarce, work is hard enough to find. But in today's economy, there's an even bigger barrier for some: their home.
Many people can't afford to sell their homes; as many as one-third of homeowners owe more than their home is now worth, and there are few buyers. Americans who once expected mobility now find themselves grounded, with their careers and lives fixed in place. They can't move to better job markets without... [Read More]
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0 Replies | 116 Views
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How do you get debt collectors off your back? |
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Aug 23, 2010 - 5:59 AM - by keepinitreal
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August 23, 2010
Dealing with many debt collectors can be, at best, an unpleasant experience and, at worst, a total nightmare. To help ease the pain of the debt collection process, practice the "three Ps" -- patience, protection and payment.
Patience -- Losing your cool with a debt collector will not accomplish anything. The temporary good feeling of telling collectors what you think of them will fade fast, and you will still have to deal with them... [Read More]
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2 Replies | 291 Views
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401(k) hardship withdrawals, loans up |
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Aug 20, 2010 - 4:46 AM - by keepinitreal
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August 20, 2010
In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter.
What's more, the number of workers borrowing from their accounts reached a 10-year high, according to a report issued Friday by Fidelity Investments.
The trends reflect the financial stress many workers find... [Read More]
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11 Replies | 401 Views
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5 Steps to Prioritize Debt Payments When Cash is Tight |
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Aug 19, 2010 - 2:12 PM - by keepinitreal
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August 19, 2010
Owe numerous creditors but don't have enough money to send each a complete payment right away? Prioritize. Here's how to rank debts by order of who should get the most of your limited funds -- and still keep those who get less happy.
Step 1: Know the consequences
"Everyone has their own personal preference on what order to pay their bills in," says Jenny Realo, executive vice president for the debt relief... [Read More]
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3 Replies | 274 Views
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U.S. says bankruptcies reach nearly 5-year high |
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Aug 18, 2010 - 6:34 AM - by keepinitreal
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August 17, 2010
U.S. bankruptcy filings have reached the highest level since 2005, government data released on Tuesday show, as the economy slows and the unemployment rate hovers just below double digits.
There were 422,061 bankruptcy filings between April and June, according to the Administrative Office of the U.S. Courts, up 9 percent from 388,148 in the prior three-month period, and up 11 percent from 381,073 a year earlier.
For the year ended... [Read More]
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1 Reply | 194 Views
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Bankrupt 'Housewife' Teresa Giudice's $60K spending spree |
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Aug 17, 2010 - 4:58 AM - by keepinitreal
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August 17, 2010
Spendaholic "Real Housewives of New Jersey" star Teresa Giudice celebrated her bankruptcy in style -- with a $60,000 shopping spree, astonishing court testimony revealed yesterday.
The buying bender came to light as the Bravo star and her husband, Joe, who owe creditors $11 million, tried to convince a Newark federal bankruptcy judge to stop the planned Aug. 22 auction of the contents of their Towaco McMansion.
In court,... [Read More]
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6 Replies | 572 Views
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» BKForum Disclaimer |
Our site provides information about bankruptcy law, credit, foreclosures and so on. This information is designed to help users safely cope with their own legal needs.
Legal information is not the same as legal advice.
No advice given on our forums can be considered legal advice. We recommend you consult a lawyer if you want professional assurance that information given to you by other forum members, and your interpretation of it, is appropriate to your particular situation. Everything is strictly informational.
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