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Personal Bankruptcies Increase

by admin | Wed, 03/03/2010 - 15:41
The Wall Street Journal Reports that personal bankruptcy filings continued on an upward trend last month. There were 111,693 consumer bankruptcy cases filed in February 2010, a 9% increase from January 2010. The report further states that approximately 1.4 million consumer bankruptcy cases were filed in 2009, a 32% increase from 2008.

February 2010 Western Dist. of KY Bankruptcy Court Memorandum-Opinion Summaries

by admin | Tue, 03/02/2010 - 14:02

Moore v. Resource Energy Technologies, LLC (Judge Lloyd)

The debtor filed a chapter 11 case while confirmation of an arbitration award against the debtor was pending in Kentucky's Fayette Circuit Court. The Bankruptcy Court granted relief from stay to the creditor for liquidation of the creditor's claim in the Fayette Circuit Court.

Amendments to the Fair Credit Reporting Act

by admin | Fri, 02/26/2010 - 14:49
Recently, House Resolution 4538 was referred to the House Committee of Financial Services. The Resolution proposes amendments to the Fair Credit Reporting Act ("FCRA") that would require the inclusion of credit scores when free annual credit reports are provided to consumers. Currently, consumers may Request one free credit report per year under the FCRA.

The Proposed Consumer Financial Protection Agency

by admin | Thu, 02/18/2010 - 17:59
An Article in Time makes the case supporting the creation of a new Consumer Financial Protection Agency (the "CFPA") by the Federal Government. The proposed CFPA was included in financial reforms passed by the House and is currently the subject of debate in the Senate. The CFPA is proposed as an independent agency for the creation and enforcement of rules for financial products aimed at consumers.

January Foreclosures Up 15%

by admin | Thu, 02/11/2010 - 17:08
An Article from USA Today reports that U.S. households facing foreclosure in January increased 15% from the same month last year.