May 16, 2012

"Octomom" Nadya Suleman had her bankruptcy case thrown out of court on Tuesday after she failed to complete and file the paperwork required, court records show.

Suleman's request for bankruptcy protection had put a temporary halt to a foreclosure auction of her La Habra home. "I have to do what's best for my children and I need a fresh start," the mother of 14 said when she filed for bankruptcy late last month.

Suleman... [Read More >>]

May 7, 2012

This year, hundreds of thousands of Americans are expected to be too broke to file for bankruptcy.

The average cost to file for Chapter 7 bankruptcy protection, the most common form of consumer bankruptcy, is more than $1,500, according to recent research submitted to the National Bureau of Economic Research.

As a result, anywhere between 200,000 and one million consumers are estimated to be unable to afford that steep cost this year.

... [Read More >>]

Feb. 12, 2012

BY SHAH GILANI, Capital Waves Strategist, Money Morning
What may be good news for delinquent credit card holders may also be really bad news for banks.

It turns out the "robo-signing" of foreclosure affidavits is just the tip of the iceberg.

In what one judge called "robo-testimony," falsely attested-to statements by bank document custodians have been submitted in courts around the country by banks trying to... [Read More >>]

April 27, 2012

Six years after the death of Christopher Bryski, a 23-year-old student at Rutgers University, Key Bank has agreed to forgive his student loan. But Bryski's family is not stopping there: It's now fighting to change the laws in the hope of sparing others the trauma it endured as lenders continued to hound it for payment on its dead son's debts.

Christopher Bysksi died on July 16, 2006, after sustaining a traumatic brain injury in a fall that left him... [Read More >>]

April 30, 2012

SANTA ANA, Calif. — "Octomom" Nadya Suleman filed for bankruptcy Monday, saying in a court filing that she has as much as $1 million in debt.

Suleman wants a fresh start and said in a statement that filing for bankruptcy is what's best for her children, according to the Orange County Register.

The home's owner, Amer Haddadin, says his own credit has suffered as he allowed the home to go into foreclosure proceedings by not making... [Read More >>]

April 25, 2012

In a twist of irony, a West Virginia woman is trying to collect money from a collection agency. Diana Mey, of Wheeling, W. Va., won the largest judgment ever against an abusive debt collection company -- more than $10 million.

"I'm a mom, and I'm a housewife, and I'm an accidental activist," Mey said.
From her small-town home base in Wheeling, Mey went after a debt collection empire that hounds people nationwide and won. But she... [Read More >>]

April 19, 2012

CHICAGO — Jailed for unpaid debts? It happened to breast cancer survivor Lisa Lindsay.

She got a $280 medical bill in error and was told she didn't have to pay it. But the bill was turned over to a collection agency, and eventually state troopers showed up at her home and took her to jail in handcuffs.

Debt collectors have become so aggressive in some parts of Illinois that they commonly use taxpayer-financed courts, sheriff's... [Read More >>]

April 13, 2012

Some Americans spend their tax refunds on high-tech gadgets and long-awaited vacations. Others use the cash to file for bankruptcy.

More than 200,000 money-strapped households will use their tax refunds this year to pay for bankruptcy filing and legal fees, says a new study by the National Bureau of Economic Research.

The NBER research confirms what bankruptcy lawyers have long known: At the first part of the year, when Americans receive... [Read More >>]

April 5, 2012

NEW YORK (CNNMoney) -- Renting used to be cheaper than buying. But in many U.S. cities that's no longer the case, as rents continue to climb and home prices stagnate.

While asking prices for homes declined 0.7% over the past 12 months through March, rents rose 5%, according to a report released Thursday by real estate listing site Trulia.

The median rent for all types of rental homes hit $1,350 a month in March, up from a median of... [Read More >>]