Archive for July, 2009

Fees for Unauthorized Overdraft Loans Keep Going Up at Largest Banks

 
 
 
Consumers Need Better Protections to Safeguard Bank Accounts
 For Release: July 16, 2009   Contact: Jean Ann Fox, CFA, 928-772-0674 MST 
The Federal Reserve has failed to protect consumers from unauthorized bank overdraft loans and, as a result of this inaction, fees for these extremely expensive loans are escalating and multiplying, Consumer Federation of America told members of the [...]

July 29, 2009   Posted in: Bankruptcy News  No Comments

Consumers Need a Credit Watchdog

Obama’s proposed agency would make loan contracts clearer-and simplify regulation.
By Elizabeth Warren
A century ago anyone with a bathtub  and some chemicals could mix and sell drugs– and claim fantastic cures. These “innovators” raked in profits by skillfully  marketing lousy products because customers were poorly equipped to tell the difference between effective and  ineffective treatments. In [...]

July 23, 2009   Posted in: Bankruptcy News  No Comments

U.S. Courts Bankruptcy Basics

Process
The Discharge in Bankruptcy
Chapter 7. Liquidation Under the Bankruptcy Code
Chapter 13. Individual Debt Adjustment
Chapter 11. Reorganization Under the Bankruptcy Code
Chapter 12. Family Farmer Bankruptcy or Family Fisherman Bankruptcy
Chapter 9. Municipality Bankruptcy
Chapter 15. Ancillary and Other Cross-Border Cases
SCRA. Servicemembers’ Civil Relief Act
SIPA. Securities Investor Protection Act
Glossary – Terms You Need to Know

Bankruptcy Basics [...]

July 22, 2009   Posted in: Bankruptcy News  No Comments

Pay Pals

In response to our June newsletter I am going to post the article that attorney Snyder commented on:

Published: June 9, 2009

The payday-loan industry sells its services to hard-up people in poor neighborhoods at steep prices, then fends off charges of profiteering with the cloak of capitalist virtue. It says it’s meeting a need, filling a [...]

July 20, 2009   Posted in: Bankruptcy News  No Comments

Card Fees Pit Retailers Against Banks

This is a great article on how much money credit card companies earn. Please note: Visa and Mastercard stocks have plunged in recent weeks, and retailers are fighting the credit card companies.
By Andrew Martin
The most profitable item at Patricia Orzano’s 7-Eleven store on Long Island is coffee. Slurpees are a distant second.
But as more customers [...]

July 20, 2009   Posted in: Bankruptcy News  No Comments

When It’s Your Time to File

At some point when you realized that bankruptcy is your best option is as if you are just deep   in flood waters yet you still think you can swim to safety; you really at that point  need a life raft .
It is quite easy for those in your social circle to  paint bankruptcy  as a [...]

July 15, 2009   Posted in: Bankruptcy News  No Comments

The Economy is Truly Affecting Us All

Recently, people who reside in East Tennessee have felt the strains of economic uncertainty and personal debt shock.  No one can predict what comes next.  No amount of forecasting or analysis will completely tell the story of the recent economic collapse.  However, the resolve and ingenuity of consumers in East Tennessee will allow us to [...]

July 14, 2009   Posted in: Bankruptcy News  No Comments

Mayer & Newton Fishing Team

The Mayer and Newton King Mackerel fishing team won second place in the third annual King Mackerel Fishing Tournament in Powell Florida. The event was held on Wednesday,July 1st: View Picture here. From Left to right: Mark C. Phillip P. and Jazz Julian with a special mention to Miller the Ace fish Spotter.

July 6, 2009   Posted in: Bankruptcy News  No Comments

Economic News-

Small businesses vital to economic recovery go bankrupt
By Christine Dugas, USA TODAY
Entrepreneurship and new small businesses are supposed to lead us out of the recession, just as they have in prior downturns, right?Sure. Your neighbor’s grand idea will persuade a bank to lend her start-up money; she’ll open for business in six weeks; and money [...]

July 1, 2009   Posted in: Bankruptcy News  No Comments