Mortgage Services Agree To Reforms

Washington Post By Dina ElBoghdady Wednesday, Apr 13, 2011 Three federal agencies announced agreements with the nation’s largest mortgage servicers Wednesday that aim to stem shoddy foreclosure practices. But the plans do not immediately impose financial penalties on the companies or force them to reduce the mortgage debt for troubled borrowers. The deals require the …

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Consumers Face Huge Losses With Debt Settlement Firms

By CHARLES WALLACE Posted 9:30 AM 08/31/10 Economy, Credit By CHARLES WALLACE Posted 9:30 AM 08/31/10 Economy, Credit Consumers are being warned to exercise extreme caution in dealing with companies that offer to reduce credit card debts. The warning follows a little-noticed rule announced by the Federal Trade Commission which is likely to put many …

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US bankruptcies resume upward path in 1st quarter

* Consumer filings up 18 pct, business filings up 2 pct * Nevada has most filings per capita, Arizona filings soar By Jonathan Stempel NEW YORK, May 14 (Reuters) – U.S. bankruptcy filings resumed their upward climb in the first quarter, nearly equaling their highest level since 2005, as high unemployment and a still-strained housing …

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Did Changing Bankruptcy Laws Cause the Mortgage Mess?

By Mark Lieberman, Senior Economist Source: FOXBusiness During the debate over changes in personal bankruptcy laws, bankers were tripping over themselves to get Congress to agree to changes to make filing personal bankruptcy more difficult. The changes, they argued, would make borrowers more responsible – and by the way reduce bank losses as debts could …

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Queens homeowners sue Chase to gain relief from foreclosure

By Anna Gustafson Three Queens homeowners filed a lawsuit against JP Morgan Chase Bank Tuesday for allegedly illegally delaying and denying their applications for foreclosure relief. The Jamaica, Queens Village and Fresh Meadows residents and attorneys from the Urban Justice Center filed the suit in federal court in Brooklyn that alleges the bank refused to …

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Congress may extend bankruptcy relief to private student loans

Source: http://www.creditandcollectionnews.com/viewer.php?url=http%3A%2F%2Fwww.lohud.com%2Farticle%2F20100506%2FNEWS01%2F5060372%2F1018%2FNEWS02%2FCongress-may-extend-bankruptcy-relief-to-private-student-loans College graduates overwhelmed by private student loans could see bankruptcy relief if proposed legislation makes its way through Capitol Hill. Supporters of the Private Student Loan Bankruptcy Fairness Act of 2010 argue that private borrowers lack important consumer protections that come with federal loans — such as deferment plans and income-based repayment options. …

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LINEBARGER SUED FOR CHARGING DELINQUENT TAXPAYERS OVER 10% OF Attorney Fees

Source: click here ANDY MEEK | The Daily News A new class action lawsuit has been filed over the practices of a Texas law firm that’s been under fire for years over the way it collects delinquent taxes from Memphis taxpayers. Two local attorneys filed the suit against Linebarger, Goggan, Blair & Sampson LLP, which …

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Reorganization & Consolidation Under Chapter 13 by J. Brian Allen North East Texas Bankruptcy Lawyer

A Chapter 13 is reorganization. The debtor, the individual or husband and wife filing the bankruptcy, maintain(s) possession of their exempt and non-exempt and pay(s) to the Chapter 13 trustee their disposable income for a period of at least 36 months and up to 60 months. In most cases, disposable income is the difference between …

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