Thursday 18 September 2014 marked an historic day in UK domestic politics as the people of Scotland were given a chance to vote in a referendum which would have seen Scotland break away from the rest of the United Kingdom and become an independent country.
Student loan default is an epidemic problem among senior citizens. The default rate currently stands at over 12%, more than three percentage points higher than borrowers under 30 years old.
Among the biggest causes of Bankruptcy is divorce. Not only can it lead to significant legal fees, the spouses usually find themselves paying for two households rather than onewhile still making the same combined income.
Loan agreements and bond indentures often contain “make-whole” provisions, which provide yield protection to lenders and investors in the event of a repayment prior to maturity.
As we discussed in this prior post,the United States Trustee’s office will randomly audit Chapter 7 and Chapter 13 cases (as many as one in every 250 cases), and will audit other cases because there is something in the Schedules that makes that case stand out from the “average” Chapter 7 or 13 cases.
Chapter 13 bankruptcy has an important limitation. If the debtor’s debts are too large, Chapter 13 is unavailable.
If you find that your Bankruptcy case is being reviewed by the United States Trustee it is not necessarily a bad sign but it is something you will want to discuss with your lawyer.
The book, 5 Steps to Freedom From Debt, published on Amazon on August 29, 2014 promises to deliver a simple system that anyone can follow to make the right choice to eliminate uncontrolled debt.