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Debt Contraction Means Fewer Bankruptcy Filings, Chargeoffs
(Web Page; Fri Aug 19 10:42:00 CDT 2011)
Falling credit card chargeoffs have coincided with slowing bankruptcies despite
a weak jobs environment. However, the favorable bankruptcy trend may itself
simply be part of the broader phenomenon of the burn-off of bad loans that ha...
Tax Refunds Being Used to Pay for Bankruptcy Filings
(Web Page; Tue Apr 17 15:56:00 CDT 2012)
According to a recent study by the National Bureau of Economic Research, more than 200,000 cash-strapped households will use their tax refunds this year to fund bankruptcy filing and the legal fees associated with it. While it is normal ...
Bankruptcy Should Be an Option for Some Student Loans: Report
(Web Page; Thu Aug 22 11:12:00 CDT 2013)
A new report by the think tank Center for American Progress (CAP) argues that Congress should create new classifications for both federal and private student loans and allow them to qualify for discharge in bankruptcy. The report calls f...
Blacks Face Bias in Bankruptcy, Study Suggests
(Web Page; Tue Jan 24 13:47:00 CST 2012)
Blacks are nearly twice as likely as whites to go through Chapter 13 -- the more
onerous and expensive form of consumer bankruptcy -- as they attempt to get out
from under their debts, new evidence shows. The disparity was evident ev...
Senators Propose Bankruptcy Option for Private Student Loans
(Web Page; Fri Jan 25 11:04:00 CST 2013)
U.S. Sen. Dick Durbin (D-Ill.) on Jan. 23 said he would soon propose legislation that would significantly lower the threshold for which borrowers with private student loan debt could declare bankruptcy, while maintaining the current, hig...
Comments: Open-End Credit, Bankruptcy Amendments of 2005
(Web Page; Thu Sep 20 17:14:00 CDT 2012)
CRL’s Summary of Credit Suisse Findings on Bankruptcy Reform
(Web Page; Wed Aug 18 13:50:00 CDT 2010)
Judicial modifications would save hundreds of thousands of families from foreclosure.
"We [Credit Suisse] expect the bankruptcy plan will provide about a 20% reduction in foreclosures." (p. 1)
"[T]he new plan adds an important new tool...
Should Student Loans Be Discharged in Bankruptcy?
(Web Page; Thu Mar 01 14:49:00 CST 2012)
graduates should be allowed to discharge student loans in bankruptcy,
recommends the National Association of Consumer Bankruptcy Attorneys.
"There simply is no reason to allow private student loans to be treated
Advocate Claims Support for Mortgage Bankruptcy
(Web Page; Mon May 14 22:59:00 CDT 2012)
In a speech before the Center for American Progress, Senate Majority Whip Richard Durbin (D-Ill.) said he would try to jump-start a bill that would allow bankruptcy judges to modify mortgages if lenders do not substantially boost volunta...
Joint Memo for Proposed Bankruptcy Law Reform: Solutions to Preserve Homeownership
(File; Fri May 01 12:49:00 CDT 2009)
Description: The Center for Responsible Lending, Consumer Federation of America, National Association of Consumer Advocates, National Association of Consumer Bankruptcy Attorneys and National Consumer Law Center jointly provide an analysis of needed bankruptcy reforms in the face of rising subprime mortgage foreclosures.