Debts That Remain After Bankruptcy: What You Need to Know Though filing for bankruptcy can be the ultimate recourse for some individuals who have been left with overwhelming debts, people should understand that in some instances there are debts that may still remain...
Bankruptcy Law
Millions may benefit from Trump’s student loan plan proposal
A December 14 article of Forbes revealed millions of people struggling to repay their student loan debts are expected to benefit from the proposal of president-elect Donald Trump.A month before the presidential election, Trump said in Ohio that student loan debts...
Distressed borrowers given foreclosure protection under new mortgage rules
Under the new mortgage rules approved on August 4 by the Consumer Financial Protection Bureau (CFPB), certain distressed homeowners who are being threatened with foreclosure may get relief, an article of Reuters reported.The CFPB will now require mortgage payment...
R&B artist likely to file bankruptcy
Ginuwine, a prominent R&B singer during the late ’90s and the early 2000s, may possibly file for bankruptcy, an article on Daily News stated November 10.The 44-year-old singer Ginueine, or Elgin Baylor Lumpkin, allegedly owes $1.25 million to Robert Reives from...
Major investors in Energy Future strive to minimize losses
Investment firms KKR & Co., Goldman Sachs Capital Partners, and TPG Capital spearheaded the $48-billion buyout of Energy Future Holdings Corp., the biggest power plant owner in Texas. Now, they are striving to get barely 3% of their initial investment back since...
Rapper exits bankruptcy
Rapper David Darnell Brown, better known as “Young Buck,” is getting a fresh financial start after exiting bankruptcy, a report stated on Thursday, September 19. The rapper filed for bankruptcy three years ago.According to reports, the Tennessee rapper has paid some...
Bills seek to limit payday and title loan interest rates
Laws to regulate high rates of short-term loans and title loans were recently presented in an effort to keep people from being trapped into paying off debts with high interests.Rep. Patricia Todd, D-Birmingham, who introduced the bills, said a cap of 36 percent will...
U.S. regulators considering payday loan changes
To lessen the high interest rates of short-term loans that put consumers in a debt cycle, Federal regulators said recently they are going to impose gaps between loans.New guidelines will be issued to banks today by Federal Deposit Insurance Corp. and the office of the...
Bankruptcy exit plan to be filed by Jefferson County in June
A recent report stated that Jefferson County plans to file its plan for addressing its debts and how it will exit bankruptcy on June 1. County officials said on March 12 that they hope to present a plan that receives the approval of sewer creditors, but were also...
Consumers may be protected against ‘debt traps’
Taking action to limit the impact of short-term loans, like payday loans, is being considered by the U.S. Consumer Financial Protection Bureau in an effort to protect consumers against loans that can become “debt traps,” according to its director recently.Payday loans...