January 25, 2010
- Tennessee Republican Bob Corker helps propose a plan for setting up a new bankruptcy court for failing financial firms
The U.S. Senate is likely to propose setting up a new bankruptcy court for failing financial firms. (…)
January 21, 2010
- Another Newspaper Company to File Bankruptcy
MediaNews Group Inc. will be the latest in the string of troubled newspaper companies that have had to seek protection from creditors amid unsustainable debt loads. (…)
November 4, 2009
- Tennessee Chapter 13 Debtors Lead Nation in Repayments to Creditors
The Chattanooga Free Press reports that Chapter 13 debtors in Tennessee pay more back to creditors than much larger states like Texas, California or New York. As of September 30, 2008, Tennesseans had paid back over $558 million in active Chapter 13 cases. Texas Chapter 13 filers were second on the list, paying back $528 million, with Georgia third at $412 million. (…)
March 3, 2009
- Effect of President Obama's New Mortgage Program on the Housing Market and Mortgage Market
The U.S Federal Reserve anticipates that in FY2009, the economy may shrink by a figure anywhere between 0.5% and 1.3%. (…)
July 16, 2008
- Clark and Washington Attorney Wins Confimation Hearing Over Trustee Objection
May a debtor include payments due secured creditors (house payment and car payment) for Chapter 13 means test calculation purposes if the debtor's plan provides for the surrender of the collateral? Attorney Mary Beth Ausbrooks, managing attorney of Clark and Washington's Nashville office recently argued this issue before Judge Marian Harrison in Nashville (Middle District of Tennessee) bankruptcy court. (…)
May 3, 2008
- Tennessee Leads the Nation in Bankruptcy Filings Per Capita During the 1st Quarter of 2008
The National Bankruptcy Research Center, a data research company, reports that Tennessee holds the distinction of having the highest per capita number of bankruptcy filings in the country. According to the NBRC, Tennesseans are filing bankruptcy at a rate that will result in an annual bankruptcy filing rate of one out of every 56 households. (…)
March 22, 2008
- 6th Circuit Decides "Hanging Paragraph" Issue in Favor of Creditors
One of the most controversial topics arising from the BAPCPA changes ot the bankruptcy law has to do with the so-called "hanging paragraph" of Section 1325(a). Stated simply, Section 1325(a) does not clearly address what happens in a Chapter 13 if a debtor surrenders a vehicle back to a secured creditor if the vehicle is worth less than the outstanding claim. (…)
March 8, 2008
- As Foreclosure Rates Rise, Beware of Foreclosure Scams
With foreclosure numbers in Tennessee cities on the rise, it should come as no surprise that desperate homeowners are being targeted by scammers. Usually the scammers pitch promises to stop a pending foreclosure using a "secret provision in the law" or an alleged special relationship with mortgage lenders. (…)
