An article published yesterday on CNBC’s website titled “Puerto Rico needs reform, not bankruptcy protection” discusses the non-bankruptcy changes that Puerto Rico can take to financially stabilize its government. While it would be unfair for me to discuss Puerto Rico’s finances, as I am not familiar with the subject, it does bring up the topic […]

The National National Association of Consumer Bankruptcy Attorneys (NACBA) has issued a statement on its website bringing issue with the Department of Education’s role in fighting Student Loan discharge in consumer bankruptcy filings. Under the bankruptcy code, the filer’s bankruptcy attorney has to bring an action called an adversary proceeding against the student loan lenders […]

The Wall Street Journal has an article regarding unclaimed funds currently held by bankruptcy courts. Bankruptcy lawyers typically file claims on behalf of their clients, yet if an address changes, or if the creditor does not cash disbursement checks, the funds are turned over to the bankruptcy court to sit on account. Eventually, these bankruptcy […]

News out of New York is that Columbia House has retained bankruptcy attorneys to file a Chapter 11 bankruptcy. Chapter 11 is a reorganization and restructuring of debts similar to Chapter 13 bankruptcy The debtor’s bankruptcy attorney will prepare a repayment plan and submit it to the bankruptcy court and its creditors for approval. If […]