Consumer bankruptcy attorneys have seen a sharp rise in business due to the subprime housing collapse. Foreclosure rates are rising at an alarming rate. Bankruptcy filings having also increased in 2007, with all these variables its has been difficult to judge whether the bankruptcy reform legislatures enacted in 2005 has served its purpose.
“The [...]

A hearing was held this week by the Subcommittee of Commercial and Administrative Law on the oversight of the U.S. Trustees’ Program. The Director of the Executive Office for U.S. Trustees (EOUST) started the testimony by outlining many of the new responsibilities that came with the Bankruptcy Protection Act of 2005 (BAPCA). “He emphasized [...]

Evidently the sub prime implosion has not effected the US banks as hard as it has their European brethren.
Quote:
European banks haven’t been quite so lucky, as some of the biggest names in continental finance have been laid low on U.S. subprime debt. In March, Natixis, a large French bank, said http://www.iht.com/articles/2007/03/15/bloomberg/bxmortgage.php it had [...]

A local writer named Ed Wallace does a weekly article which focuses on cars and the US economy, often with a historical twist. Since it combines two of my favorite subjects, cars and the economy, you can guess that it is my favorite thing to read every Sunday morning.
Here is a link to his [...]

Seven percent of all bankruptcy filings in 2007 are from pensioners. This trend will likely increase because of longer life expectancies, cost of fuel, rising food prices, and medical expenses. Many retirees have only their pensions to rely on and struggle to maintain their bills.
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/10/01/nbankrupt101.xml
Pam

Superior Court Judge Gerald Rosenberg has ordered Simpson to turn over his Rolex watch, and other assets to the Goldman family to satisfy the judgment for which he was found liable. He must also turn over any of the disputed sports memorabilia seized in Las Vegas if it is legally found to be his.
The [...]

Here is a short article which states the facts that we already know (at least if you buy coffee, gas or groceries): that while the Federal Reserve continues to state that inflation is under control and not significant, in reality (not the government’s “reality”), inflation is real and in fact is one of the Fed’s [...]

Student debt levels rose by almost 8% on average for graduating seniors between 2005 and 2006. The Project on Student debt published its analysis last week. The report also compared starting salaries and found that they had only risen by 4%. The analysis is based on a report of more than 1400 [...]

We are pleased to announce that I am now a member of the New York Bar. My 17 year old daughter and I went to Albany for the personal interview and the swearing-in ceremony. Then I had the chance to show her New York City — although she had never been there before, [...]

New home sales plummeted even further than expected in August. Sales of new homes were down 21 percent from the same time period last year. Builders are giving deep discounts and more incentives to move the current inventory. Analysts predict that the housing market will not bottom out completely before the [...]