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Global Connection - May 2013: Ninth Circuit Strikes Down $45 Million Class Action Settlement and Issues Warning About Use of...

Citing a conflict of interest between class representatives and a class, the Ninth Circuit Court of Appeals recently invalidated a $45 million class action settlement that had previously been approved by the district court....more

Reports Of Late Payments To Credit Reporting Agencies While Bankruptcy Is Pending Do Not Violate Federal And State Fair Credit...

After filing for Chapter 7 bankruptcy, a consumer discovered that her credit report listed delinquent payments to a bank even though she had been current with her payments up to the date she filed. After disputing the report...more

Debt Relief and Counseling Scams

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 instituted a credit counseling requirement for debtors filing for bankruptcy protection. Credit counseling agencies sprang up quickly on the heels of this...more

Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock  [Video]

May 2 (Bloomberg Law) -- Eastman Kodak Co. filed a Chapter 11 plan that cratered the stock and bumped up the unsecured notes, although the plan may be revised to pay off second-lien debt fully in cash, as Bloomberg Law's Lee...more

Ninth Circuit Disapproves $45 Million FCRA Class Settlement Based On Conditional Incentive Award

On April 22, the U.S. Court of Appeals for the Ninth Circuit reversed a district court’s order approving a $45M class action settlement under FCRA on the grounds that the conditional nature of the incentive award rendered the...more

Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans  [Video]

April 18 (Bloomberg) -- Why and when U.S.-managed hedge funds can go bankrupt in the Caribbean, not in the U.S., is the first item discussed on the new bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg...more

Home Loan Modification Help FAQs from the State Bar of California

Senate Bill 94 does not prevent an attorney from earning fees for helping consumers with home loan modifications. However, no one can accept fees up front for the work, nor can they place fees in their trust...more

Bill on Bankruptcy: Stockton May Win the Battle, Lose the War [Video]

April 2 (Bloomberg Law) -- Although Stockton, California established the right to be in a Chapter 9 municipal bankruptcy, the judge warned the city that victory may be short-lived if bondholders prove that pensioners must...more

Buchheit: Cyprus Could Need a Second Bailout  [Video]

Mar. 28 (Bloomberg Law) -- The sovereign debt crisis in Cyprus marks the fifth European nation to need a bailout in recent memory, but this crisis is unique because European Union regulators are taking the unprecedented step...more

Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff [Video]

March 27 (Bloomberg Law) -- There was no settlement afoot when U.S. District Judge Jed Rakoff put off a hearing on an effort by the trustee for Bernard L. Madoff Investment Securities LLC to block a $410 million settlement...more

EOUST Releases Final Rules for Bankruptcy Counseling and Debtor Education

On Wednesday, March 13, 2013, the Executive Office for United States Trustees (“EOUST”) released its long-awaited final rules for pre-bankruptcy counseling and post-filing debtor education. The regulations update procedures...more

MICHAEL L. JONES v WELLS FARGO BANK

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA OPINION AFFIRMING $3.1 MILLION PUNITIVE DAMAGE AWARD AGAINST WELLS...

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA MICHEAL L. JONES vs WELLS FARGO BANK OPINION Before the Court is Appellant Wells Fargo Bank, N.A.'s Appeal from a decision of the United States...more

Filing Bankruptcy Without a Lawyer is Risky

The bankruptcy process is riddled with potential traps. An experienced lawyer is not a luxury in bankruptcy cases but a necessity....more

New Legislation Introduced to Allow Discharge of Private Student Debt

The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more

In re: Chapter 7 Case No. 11-24269 JUANITA STRASSFIELD, Debtor.

ORDER DENYING WELLS FARGO’S MOTION TO VACATE AUTOMATIC STAY BASED ON FILING FALSE DOCUMENTS WITH THE COURT

ORDER DENYING WELLS FARGO’S MOTION TO VACATE AUTOMATIC STAY AND PARTIALLY GRANTING RELIEF SOUGHT IN OBJECTIONS THERETO Upon the motion, dated January 24, 2012 (the “Motion”), of Wells Fargo Bank, N.A. (“Wells Fargo”) to...more

Filing Bankruptcy Without Regret

Filing bankruptcy is usually not a pleasant experience for people. Have no regret and understand it could create a new beginning for you and your family. Filing bankruptcy should not be a moral decision but a personal...more

Delaying Federal Student Loan Payments

Delaying Federal student loan payments is possible through forbearance or deferment. These two options can be a great way to push payments to a later date while securing more income. These two options also prevent student...more

‘Tis The Season To Be WARY!

Tax season is on us once again and many are thinking about how to make the best use of any tax refund to pay down their obligations. Be aware: scammers are out there and are plotting strategies to separate you from your...more

CFPB reports new investigation

Yet another panel discussion at the ABA Consumer Financial Services Committee just held in Naples, Florida, entitled “Preparing for CFPB Exams and Enforcement” involved two speakers from the CFPB...more

Can't Afford That Car Payment? File Bankruptcy.

Bankruptcy is more than a means to get rid of credit card debt. It can be an effective tool for eliminating burdensome car loans and unreasonable payments....more

Do I need to include my social security (retirement) income in the calculation of my plan payment in chapter 13 bankruptcy?

If you are collecting social security benefits and are contemplating filing bankruptcy, this post is a must read! Contact: George E. Bourguignon, Jr., Esq. Phone: (508) 769-1359 or (413) 746-8008 Email: ...more

I want to file bankruptcy but was told that the amount of my income is too high and I will not satisfy the mean test, what is the...

If you are considering bankruptcy, and especially want to know if you can qualify or pass the means test, or want to know what the means test is, then this post is for you. Contact: George E. Bourguignon, Jr.,...more

Federal Gift Card Bill Would Significantly Affect Promotional and Loyalty Gift Card Programs

On December 10, 2012, Sen. Bob Casey (D-PA) announced his joint sponsorship of Senate Bill 3636, known as the "Gift Card Consumer Protection Act of 2012," which was originally introduced and referred to the Senate Committee...more

Are you paying off credit cards with your retirement funds or home equity?

If you're paying off credit card balances using money you've taken from your retirement account or received from a home equity loan, you're entering dangerous (financial) territory. Let's take a look at this. - Do you have...more

Homeowners Alert: Foreclosure Prevention In GA

Good news for some struggling Georgia homeowners who have been "hit the hardest" by the economy. A program to "prevent foreclosures" has been launched by the State of Georgia, Department of Community Affairs under the name...more