Category Archives: Bankruptcy News

Foreclosure assistance programs ranked as one of the top consumer complaints in Massachusetts

By admin | Published: March 10, 2010

According to the Massachusetts Office of Consumer Affairs, foreclosure assistance programs ranked as the fifth most common source of consumer complaints in the past year. The foreclosure programs, many of which are outright scams, drew more complaints than timeshare resellers. The top four categories of complaints on the list were against home improvement contractors, auto […]

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Bank of America will no longer allow debit overdrafts

By doug | Published: March 10, 2010

The Bank of America has announced that it will soon stop permitting its customers to make overdrafts on their debit cards. The new policy will be phased in over the summer of 2010. The move comes on the heels of new federal regulations that limit bank fees on overdrafts. The new regulations require a bank […]

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More trouble at the races — Hoosier Park files for bankruptcy

By doug | Published: March 8, 2010

Right on the heels of the news about the bankruptcy of one thoroughbred racing’s most prominent horse owners, comes the news that an entire racetrack has sought bankruptcy protection. Matt Hegarty of the Daily Racing Form reported that the parent company of Hoosier Park filed a Chapter 11 case this morning, after failing to make […]

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Racehorse Owner Tries Bankruptcy, But Still Has Troubles

By doug | Published: March 6, 2010

One of America’s leading owners of thoroughbred racehorses has recently filed for bankruptcy, but that may not be the end of his woes. New Jersey businessman Ahmed Zayat campaigns more than 200 thoroughbreds under the name of Zayat Stables, and has had many prominent winners, including last year’s two year old champion, Lookin’ at Lucky, […]

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did the bad weather cost you your job?

By doug | Published: March 4, 2010

Every year we say that March “comes in like a lion and goes out like a lamb.” But this year, February was the troublesome month, which came in with a Deep South snowstorm and went out with a Hawaiian tsunami. The extreme weather across the continent probably cost some Americans work, or at least the […]

Also posted in The Bankruptcy Code | Comments closed

Massachusetts Bankruptcy Court cracks down on terms of loan modification agreements

By doug | Published: March 3, 2010

The bankruptcy courts in Massachusetts have begun a crackdown on loan modification agreements that seek to reduce the court’s power over lenders. In a standing order issued on March 2nd, the court has nullified any provision in a loan modification agreement that tries to eliminate a debtor’s automatic stay if they default after filing a […]

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Foreclosures slowing down in Massachusetts?

By doug | Published: March 3, 2010

The Warren Group, peripatetic observers of the Massachusetts real estate lending scene, report that the number of foreclosure petitions filed in Massachusetts in January was the lowest monthly level in a year. Foreclosure deeds, however, have risen to a four year high. A foreclosure deed is recorded at the end of the foreclosure process, after […]

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Tree Huggers

By doug | Published: March 2, 2010

If you cut down your neighbor’s trees, and then get sued for it, can the bankruptcy court bail you out? The answer may depend on whether you cut down the trees mistakenly or maliciously. Surprisingly, this very issue has now been litigated in the Massachusetts bankruptcy courts at least three times. The latest decision, in […]

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Tips from a seven month job search

By doug | Published: February 26, 2010

I don’t have to tell many of my clients how discouraging it is to look for work for months on end with little to show for it — they tell me! Kevin Mergens, a product manager form Illinois, just penned this list of tips for the Wall Street Journal. Struggling with long-term unemployment, he found […]

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Credit card rules and payday loans

By doug | Published: February 23, 2010

While the new credit card rules that are just taking effect do not legislate any maximum interest rate on the card, issuers will from now on have to give a 45 day warning of any interest rate increase. The credit card bloodsuckers are already adjusting. First Premier, an issuer of subprime credit cards, which have […]

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