Credit Slips: Bankruptcy

Home -> Law Blog Directory -> Bankruptcy Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Bankruptcy

Credit Slips

A discussion on credit and bankruptcy.
By Bob Lawless, Adam Levitin, Angie Littwin, Katie Porter, John Pottow, Debb Thorne, Elizabeth Warren

Post Frequency: 12.8/day

Last Entry: April 01, 2011 at 09:01:41

Are Bankruptcy Judges Unconstitutional?

Posted on March 20, 2008
The title to this post is the question asked by former colleague, Professor Tuan Samahon (UNLV), in an article just posted to SSRN: "Are Bankruptcy Judges Unconstitutional? An Appointments Clause Challenge." Click here to view the abstract or download the...

Are Payday Loans as Profitable as We Think?

Posted on March 20, 2008
No. These firms have ordinary profitability despite astonishing interest rates. My recent study with Jeremy Tobacman finds payday lenders? firm-level returns differ little from typical financial returns, notwithstanding their effective annualized interest rates of many thousand percent...

Overoptimism and Subprime Mortgages

Posted on March 19, 2008
Beyond all the news on the causes of, and policy responses to the current US economic crisis focusing almost solely on financial markets, it's worth paying more attention to causes and policy responses for households. One household-level cause fits with...

Why Do People Use Payday Loans?

Posted on March 18, 2008
Economic models of borrowing and saving offer a hat trick of (not necessarily mutually exclusive) explanations for why people would borrow on high-interest credit like payday loans: 1) Consumers may heavily discount the future, 2) Consumers may experience shocks that...

To access this complete feed in the blog feed reader login or register for free.

Are Bankruptcy Filings Highest at the Beginning of the Month?

Posted on March 18, 2008
Courtesy of Automated Access to Court Electronic Records ("AACER") come new data about the U.S. bankruptcy filing rate throughout a month. From January 2007 through February 2008, the average daily filing rate for the first 14 days of the month...

The Visa IPO

Posted on March 17, 2008
Visa's IPO is setting the stage for a major reconfiguration of the payments world in the next decade.

Bear's Bankruptcy Alternative

Posted on March 17, 2008
Regardless of the dollar valuation of Bear in bankruptcy, there would have been significant value provided by the process.

Call for Papers "Real Estate Transactions in Troubled Times"

Posted on March 17, 2008
The American Association of Law Schools is having its 2009 Annual Meeting in January in San Diego. The section on Creditors' and Debtors' Rights and the section on Real Estate Transactions are planning a three-hour extended program on Real Estate...

Do Payday Loans Cause Bankruptcy?

Posted on March 17, 2008
Anecdotes about the effects of high-interest payday loans abound, but these correlations don't tell us about the causal impact of borrowing at 450% APR. Simply observing payday loan borrowers' in financial distress can't determine which direction the causality goes...

The Bear is Dead

Posted on March 17, 2008
The Fed's extraordinary step in propping up Bear Stearns, followed by Morgan Stanley's JP Morgan's purchase of the company at a fire-sale price, has everyone reeling. But for Credit Slipsters there's an odd little irony worth noting: Why didn't the...

Welcome to Paige Marta Skiba and Jeremy Tobacman

Posted on March 16, 2008
Credit Slips welcomes Paige Marta Skiba, a behavioral economist who studies payday lending. She earned her Ph.D in economics from the University of California, Berkeley in 2007 and is currently an associate professor of law at Vanderbilt Law School. She'll...

What a Law Professor Does on a Saturday Afternoon

Posted on March 15, 2008
It's Saturday afternoon, and as a law professor I'm spending it in my usual way--reading and rereading the various form contracts to which our household is subject. I was all involved with an engrossing new form describing my rights under...

Mr. Autrey Speaks for Himself

Posted on March 14, 2008
Steve Autrey was one of those people who had been invited to testify before the House subcommittee yesterday. He showed up, but he was was silenced when the committee decided he couldn't testify unless he signed a waiver permitting his...

Bankrupt Consumer Arbitration

Posted on March 13, 2008
A couple of years ago, I got all exorcised about MBNA v. Hill, 436 F.3d 104 (2d Cir. 2006). The case involved a consumer bankruptcy where MBNA had offset $159 from the consumer's account despite MBNA's admission that it had...

Home Equity Shoe Dropping

Posted on March 13, 2008
Something that I had been wondering about re: the mortgage meltdown has been home equity loans. We've all been focusing on home mortgages (starting with sub-prime, but slipping up to Alt-A and conventionals), but what I was curious about was...

Credit Slips Goes to Washington

Posted on March 13, 2008
Today Katie Porter, Adam Levitin and I testified before the Financial Services subcommittee on Financial Institutions of the House Committee on Financial Services, along with Professor Larry Ausubel and four representatives of the credit card companies...

Solutia Solution

Posted on March 12, 2008
I didn't want Credit Slips readers to miss the settlement of the Solutia lawsuit that occurred at the end of February. Solutia sued its consortium of DIP lenders for trying to back out of a $2.05 billion exit financing loan....

Illinois Statute Gives Debtors Less Protection After Bankruptcy?

Posted on March 11, 2008
A crazy Illinois law demonstrates how bad drafting is not just for the U.S. Congress. State legislatures can do it too! It is my understanding that some Illinois automobile lenders are citing this law (625 ILCS 5/3?114) as a reason...

Credit Squeeze

Posted on March 09, 2008
BusinessWeek reports that more credit card issuers are refusing to cut interest rates to help out consumers in trouble. Until recently, if someone entered formal credit counseling, the card companies would often cut interest rates to zero to keep the...

One in Ten

Posted on March 06, 2008
The latest numbers are out: One in ten homeowners has no equity in the family home. The data show that about 15% will be below water if prices continue to slide, owing more than their homes are worth. So what's...

Payment cards continue global growth

Posted on March 06, 2008
While Americans continue to lead the world in credit card spending, other forms of plastic payment such as debit cards continue to have an edge in other nations. Overall, Ronald Mann reports that global spending on credit and debit cards...

An Update on Erica Stevens

Posted on March 05, 2008
Back on February 24, I posted the story of Erica Stevens (again, not her real name). Erica is one of the respondents of the Consumer Bankruptcy Project 2007. I described how her bank had held a check from the bankruptcy...

Reexamining Non-Judicial Foreclosures

Posted on March 04, 2008
If mortgage servicer abuse is rampant in judicial settings, how much worse is it in non-judicial foreclosure?

HOPE Now January Report

Posted on March 04, 2008
There's good news and bad news in the January 2008 HOPE Now numbers. The total number of workouts is up, as is the percentage of those that are loan modifications, but the number of completed foreclosure sales rose at a much faster rate.

A Debtor's World: An Interdisciplinary Academic Conference

Posted on March 03, 2008
On May 2-3, the University of Illinois College of Law and the American Bankruptcy Institute are sponsoring "A Debtor's World: An Interdisciplinary Academic on Debt." Our goals is to bring together leading scholars from different disciplines to have a conversation...

Unmerchantable McDonalds' Fries? New Commercial Law Blog

Posted on March 03, 2008
Several law professors have started a new blog, Commercial Law, to offer their thoughts on issues arising under the Uniform Commercial Code or commercial laws. The blog is off to a lively start with daily postings on all sorts of...

Commercial Law at DePaul

Posted on March 03, 2008
On May 1, DePaul University College of Law and the Commercial Law League of America are sponsoring a symposium entitled "Lawyers, Law Firms & the Legal Profession: An Ethical View of the Business of Law." The program appears aimed principally...

February 2008 Filing Rates Hit Post-BAPCPA High

Posted on March 03, 2008
This just in. Bankruptcy filings in the U.S. are now at their highest daily rate since the 2005 changes to the federal bankruptcy law. According to Automated Access to Court Electronic Records (AACER), there were 79,198 bankruptcy filings in February...

Surprise!!! You've earned a discharge AND a foreclosure

Posted on February 28, 2008
Tomorrow, the Senate is expected to vote on the Foreclosure Prevention Act of 2008, Title IV of which would permit bankruptcy courts to modify home mortgages in certain ways if the loan and the debtor met specified criteria. We've described...

Welcome to the Blogosphere: Less Than the Least

Posted on February 28, 2008
Professors David Skeel (Penn, Law) and Bill Stuntz (Harvard, Law) have started Less than the Least. Skeel and Stuntz say they will write about what interests them personally and professionally. Thus, Credit Slips readers may want to check out this...

Previous | Next

Related Law Bulletins

More owners facing foreclosure - Many paying a price for easy credit
Timothy Duggan, Shareholder in Stark & Stark's Real Estate Gro...

Ex-Spouses Can Ruin Each Other's Credit
Ex-Spouses Can Ruin Each Other's Credit By Kimberly Palmer, US New...

How Will My Divorce Affect My Credit?
A very good overview of some of the credit issues in divorce. ----...