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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Weekly News – December 1

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Client “wants to think” before getting good bankruptcy information

The caller with a pending foreclosure sale called and canceled an initial consultation with me last week. He wanted to “think about it” before coming in. Huh? Think about being homeless? Think about the cost of getting relief through bankruptcy

Chapter 13 Plan Modifications

When and How to Modify a Chapter 13 Bankruptcy Filing for a Chapter 13 bankruptcy can be a lifeline for individuals struggling with overwhelming debt. When you file a Chapter 13 bankruptcy, you are required to submit a repayment plan that must be

November 2023 Ponzi Scheme Roundup

Below is a summary of Ponzi scheme activity reported for November 2023. Nine new Ponzi schemes hit the news this month and there were more than 35 years of prison sentences imposed on Ponzi schemers and 4 new guilty pleas. The average age of the

(UK) Director Administration Appointments: Does the Company Really Need a Moratorium?

With increased public awareness that a notice of intention to appoint administrators (NOI) has been filed, we are finding that third parties – usually the company’s creditors, suppliers and employees – are disrupting the administration process in a

Family Businesses in Financial Stress: Acts of Desperation and Bankruptcy

By Donald L. Swanson Desperate people do desperate things. And desperation leads even good people astray. So it is in the world of financial stress. Desperate people do desperate things: like providing sloppy financial statements to creditors

(US) Delaware Bankruptcy Court Strikes Down Global Rockport Settlement

A consensual resolution among all stakeholders is an important goal of any bankruptcy proceeding. But how can parties reach a consensual deal if financing is drying up quickly and the prospect of confirming a plan is grim? That was the issue facing

As auto loan delinquencies rise, as a vehicle creditor do you know your rights within consumer bankruptcy?

By: Keri Ebeck Auto loan delinquencies are rising to levels greater than we saw in 2008-2009 recession. The amount of auto loans that are sixty (60) plus days past due … The post As auto loan delinquencies rise, as a vehicle creditor do you know your

Debt settlement: how it really works

Debt settlement companies thrive on tapping the consumer’s genuine desire to pay back their debts. They don’t tell you how debt settlement works, in reality. They promise that they will compromise with your creditors for a sizable discount and all

(US) Who Owns the Crypto: Bankruptcy Court Rules That Customers Do Not Own The Deposited Crypto

Who owns cryptocurrency held by a cryptocurrency exchange? Do the cryptocurrency assets belong to the customers who deposited the crypto with the exchange, or do the cryptocurrency assets belong to the exchange itself? The answer to this question

What lenders can do after the foreclosure

Foreclosure is traumatic enought without worrying whether lenders can sue you after foreclosure. Breathe deeply. California has laws that limit what a mortgage lender can do to collect its money after the foreclosure. One addresses the rights of the

Merchant Cash Advances to Small Businesses and the Risks and Pitfalls of those Loans

The Daily Record has an article titled "Small business, big target: Predatory lenders take aim at struggling businesses | Civil Litigation". The article concerns Merchant Cash Advances to small businesses and the risks and pitfalls of those loans

Refreshing A Concluded Mediation—Because Of Mediator’s Ethics Improprieties In Other Contexts (In re Tehum)

By: Donald L Swanson Everyone knows by now of a problem in the Southern Texas Bankruptcy Court with a judge who resigned over ethics controversies. That resignation did not solve anything for the cases in which that judge was involved. Instead, the

How Do I Defend Myself in Court Against a Debt Collector in Pennsylvania?

Being in debt is not an enjoyable experience in any way whatsoever. It can make you feel like you are beholden to someone else and not exactly free to do whatever you want. Even though you may be working to pay off a debt, the reality is that a

Maxed Out Credit Cards? 2023 Statistics & How to Clear Your Debt

I’m worried about you, especially with more and more people on the verge of maxing out their credit cards. Credit cards are extremely convenient and easy to use. With the holidays coming up – Black Friday, Small Business Saturday, Cyber Monday

Supreme Court Strikes Blow for Deciding Cases and Explains What Is Jurisdictional and What Is Not

Author's Note: I started writing this post in April. My life has been a bit busy this year so I haven't blogged as much as in prior years. If you are already familiar with the holding of Moac Mall Holdings, you may want to skip to the end to the What

Can You Go to Jail For Debt in Pennsylvania?

Debt is not pleasant. If you are in debt, you likely want to get rid of it as soon as possible. The nasty feeling of being in debt may make people think that being in debt is illegal. Some may worry that they are going to go to jail if they do not

What You Keep In Chapter 13

Just because debtors can keep their upscale trappings and their toys bought on credit doesn’t mean they should. I share my colleagues excitement over the 9th Circuit’s recent decision in Welsh. The appeals court held that a debtor wasn’t guilty of

What is the Statute of Limitations on Debt in NJ?

A statute of limitations on debt is a legal timeframe within which creditors can initiate legal proceedings to recover outstanding debts. In essence, it sets a deadline for taking legal action, providing a time window during which creditors can sue

What is the Statute of Limitations on Debt in Pennsylvania?

Having debt of any kind looming over your head is one of the most unpleasant experiences possible. This can be compounded if the debt is such that it cannot easily be paid off. Working towards paying off one debt may lead to another, which can feel