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BA Default Rate |
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Oct 16, 2009 - 12:04 PM - by treehugger1
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October 16, 2009
Bank of America Corp posted a $1 billion quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator.
The nation's largest bank received two taxpayer bailouts totaling $45 billion after acquiring broker Merrill Lynch & Co and mortgage lender Countrywide Financial Corp at the height of the financial crisis last year. It says it wants to start repaying the... [Read More]
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21 Replies | 1,061 Views
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C1 Default Rates |
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Oct 15, 2009 - 11:19 AM - by treehugger1
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October 15, 2009 2 hours ago
NEW YORK — Rising credit-card defaults are weighing on shares of Capital One Financial Corp.
The McLean, Va., company said in a regulatory filing with the Securities and Exchange Commission that its annual net charge-off rate rose to 9.77 percent last month from 9.32 percent in August.
That's the percentage of U.S. loans Capital One thinks won't be repaid.
Meanwhile, the rate for loans at least 30... [Read More]
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15 Replies | 663 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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Out of work, out of options, into retirement |
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Oct 14, 2009 - 9:08 AM - by AngelinaCat
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Social Security filings up 22% as job loss forces some out of work force
Updated 9:18 a.m. ET, Tues., Oct . 13, 2009
Richard H. Freund had it all planned out: He’d work until he was 70 and his wife, a psychotherapist, turned 62.
Then, he’d retire and rely on several sources of income to fund a life making artwork and traveling around the country in a trailer.
Those plans were upended last spring, when Freund, then 66, found out that... [Read More]
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12 Replies | 763 Views
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 Some Credit Card Companies Rush to Act Before New Law |
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Oct 11, 2009 - 5:10 PM - by charredswife
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October 9, 2009
WASHINGTON (CNN) -- If you hold a Discover credit card, you're in luck -- the company has decided to freeze interest-rate hikes until a new credit card consumer protection bill takes effect in February.
Chuck and Jeanne Lane of Ohio have excellent credit, but their monthly credit card bill more than doubled.
Bank of America was the first company to freeze its rates. Both moves come after outrage over credit card companies jacking up... [Read More]
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12 Replies | 864 Views
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Court Weighs Use Of Credit Scores |
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Oct 07, 2009 - 12:48 PM - by NoMoreCards
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Mich. Supreme Court Meets Today To Hear Arguments
October 7, 2009
The Michigan Supreme Court is considering whether insurance companies can use customers' credit scores to set home and auto premiums.
The high court heard oral arguments Wednesday.
The state insurance commissioner banned credit-based insurance rates in 2005 after calling the practice discriminatory and unreliable. A county judge blocked the ban. But the Michigan Court of... [Read More]
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42 Replies | 1,156 Views
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Consumer bankruptcies soar in September |
Oct 02, 2009 - 3:10 PM - by Martha31
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October 2, 2009
Consumer bankruptcies soared 41 percent in September from a year before and climbed from August, as high unemployment and the housing market crash took their toll, the American Bankruptcy Institute said on Friday.
September filings totaled 124,790, the fourth-highest month since the bankruptcy law changed in 2005.
Filings also rose 4 percent from August, even as recent reports have indicated that the U.S. housing market might be... [Read More]
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9 Replies | 934 Views
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Rethinking Bankruptcy and Student Loans |
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Oct 01, 2009 - 6:39 PM - by cyn5
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September 24, 2009
WASHINGTON -- As Congress and the White House move to alter bankruptcy code to make it more equitable to consumers, a House subcommittee began a reconsideration Wednesday of how bankruptcy law treats private student loan debt.
Rep. Steve Cohen (D-Tenn.), chair of the House Judiciary Subcommittee on Commercial and Administrative Law, held a hearing to initiate legislation reversing a 2005 change in federal bankruptcy law that, he said, gave... [Read More]
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4 Replies | 897 Views
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Leaving Affordable Mortgage May Become Winning Gambit |
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Oct 01, 2009 - 10:38 AM - by limage
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Oct. 1 (Bloomberg) -- Scott Conroy pays the mortgage every month on his one-bedroom condominium in San Diego, even though it’s worth 33 percent less than what he owes and it may take more than a decade to break even.
Homeowners like Conroy who can afford their monthly payments are weighing whether to sell and pay the difference, stick it out until housing prices recover, or walk away. In the U.S., 26 percent of borrowers owe more than their home is worth, said Karen... [Read More]
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0 Replies | 482 Views
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North Carolina Senate Bill 974 |
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Sep 27, 2009 - 9:51 AM - by keepmine
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Governor Signs Bill to Protect Consumers from Home Foreclosures
September 9, 2009
Senate Bill 974 will save communities and protect against unfair debt collectors
RALEIGH – Gov. Bev Perdue today signed Senate Bill 974, The Consumer Economic Protection Act Of 2009 (CEPA),which will help homeowners facing foreclosure, preserve communities, and protect consumers from unfair debt collectors.
“When a home is foreclosed —... [Read More]
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0 Replies | 379 Views
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New Bk law: Time deadlines |
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Sep 22, 2009 - 1:48 PM - by keepmine
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New Bankruptcy Law: Time Deadlines
Sep 21, 2009
New bankruptcy time deadlines take effect December 1, 2009. Time will now be computed in multiples of 7. This change will minimize situations where deadlines come due on weekends.
Bankruptcy has many different deadlines based on multiples of 5 – 5 days to submit documents, 10 days to appeal, 15 days to file pleadings, 20 or 25 days to object. Periods shorter than 30 days are going to the new 7 day system. ... [Read More]
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4 Replies | 979 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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