According to an article in the Dallas Morning News, Idearc, Inc. bondholder (MatlinPatterson Global Opportunity Partners) is challenging the viability of the company’s bankruptcy exit plan and is asking the bankruptcy court to strip control of the bankruptcy case from the publisher.
The article:
“Idearc’s proposed bankruptcy exit plan is based on an agreement it struck with [...]

According to an article in the Star-Telegram, despite the growing foreclosure crisis, the nation’s largest banks such as Goldman Sachs and JPMorgan Chase have not changed their reckless behavior.  Many of the banks who have received tens of billions of dollars in federal bailout money are still up to their old tricks and risky [...]

Cities in Tarrant County are being hit hard by the foreclosure crisis which has slowed down property value increases this year.  According to an article in the Star-Telegram, because of foreclosures and slow property sales, Tarrant County’s property values rose only 2.4 percent this year, the smallest increase in 15 years.
The article said:
“The overall [...]

According to an article in the Star-Telegram, mortgage giants Fannie Mae and Freddie Mac, would topple over into bankruptcy without the lifeline of government funding that has poured into these behemoths since September 2008.
The article said:
“The companies, created by the government to ensure the availability of home loans, have tapped about $96 billion in [...]

Even if the economy recovers it may take a year or two for the rate of business bankruptcies to slow down.
An article from BusinessWeek says that there are no signs that the high rate of business bankruptcy filings will slow down.  In May alone 7,514 business bankruptcies were filed.  This number is up 40% from [...]

Don’t fall for credit repair scams when trying to rebuild your credit.
For the last year, almost every economist and politician has developed a theory on who or what is to blame for our current recession.  The reasons range from government inaction to the foreclosure crisis.  Regardless of how it started, the recession is still here [...]

According to an article in the Washington Post, a bankruptcy judge approved Michael Vick’s bankruptcy plan to repay creditors.  Michael Vick’s creditors, who are owed more than $20 million in total, ratified the bankruptcy plan to repay them based on his future earnings and the sale of his assets.
The article said:
“Vick signed a contract with [...]

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Times are tough on everyone right now.  You are a good person in a bad situation, and you probably feel alone and worried about your near-desperate circumstances.  However, if you have been considering working through a “credit counselor”, explore working through an attorney instead.
You hire the attorney to work on YOUR BEHALF.  And [...]

Critics of President Obama are taking advantage of the rising unemployment rate to question the effectiveness of his recovery plan and economic leadership, and the huge budget deficit is only adding fuel to their fire.  President Obama is working to show that there are concrete benefits to his recovery plan, saying that his administration expects [...]

Texas-based Plainview Peanut Co., LLC filed Chapter 7 bankruptcy in a Virginia court last month, just two months after its parent company Peanut Corporation of America filed bankruptcy in the same court.
Plainview Peanut Co. is the subsidiary chiefly responsible for the salmonella outbreak earlier this year.  The processing plant in Plainview, TX had been operational [...]

An article in the Star-Telegram offers an excellent “insider’s view” of Reader’s Digest’ Chapter 11 bankruptcy, which was actually prearranged with the compliance of the majority of its creditors. A general interest magazine that has been in business since 1922 Readers’ Digest has seen its readership drop from a peak of 17 million in the [...]

According to an article from the Associated Press, Congress sent legislation to the President earlier this week that would encourage lenders to save homeowners from foreclosure.  The lending industry helped block an earlier, tougher measure that would have required lenders to reduce monthly payments for those homeowners going through bankruptcy.  Support for the new legislation [...]