… article said:

“The civil suit, which names the company’s chief executive officer, president and chief financial officer, seeks full restitution for the 90 employees of the company’s former Harrisburg plant and thousands of dollars in fines…The financially troubled Turbine Airfoil stopped paying its health-insurance premiums in October 2008 without telling the employees, even though it continued to deduct the employees’ portion from their paychecks…”

One employee was even …

Tags: Blue Cross and Blue Shield Association Insurance Lawsuit Pennsylvania

… to people with a history of medical problems. The offer from America’s Health Insurance Plans and the Blue Cross and Blue Shield Association is a potentially significant shift in the debate over reforming the nation’s healthcare system to rein in costs and cover an estimated 48 million uninsured people. It was contained in a letter to key senators.

The health insurance companies are hoping to dissuade the government from creating a rival public health insurance plan that will cut …

… Mortgage bankers don’t want you to file bankruptcy. They don’t want you to file bankruptcy and they definitely don’t want you to have the power to modify a toxic mortgage in bankruptcy.  In a letter from The Mortgage Bankers Association to Congressional leaders, mortgage bankers expressed their outright opposition to a mortgage bankruptcy “cram-down” amendment in the Wall Street Reform and Consumer Protection Act that would give homeowners the power they need to modify toxic …

Tags: foreclosure Mortgage Bankers Association

Permalink: /foreclosures/mortgage-bankers-association-battles-homeowners-facing-foreclosure/

… was written they may not be able to keep their car without paying off both the car loan balance and the credit card balance.  How can this be?  Well, if a debtor has taken out a car loan from a credit union the loan document will usually include what’s called a cross collateral clause.  Cross collateral clauses state that any debt you accrue through the credit union will become secured with collateral you acquired by taking out a loan from the credit union.  This collateral usually is …

Permalink: /bankruptcy/watch-out-for-cross-collateral-clauses-on-credit-union-loans/

… to an article in the Star-Telegram, moderate House Democrats are drafting a proposal that would shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.

The article said:

“…their proposal, spearheaded by Illinois Democratic Rep. Melissa Bean, isn’t sitting well with consumer advocates who say banks shouldn’t be allowed to skirt state regulations if the restrictions don’t suit them.”

Under the plan created by President …

Comment by Jacob Decker: … a well known and experienced attorney make a phone …

Permalink: /credit-crisis/state-legislators-seek-to-shield-banks-from-tough-credit-card-rules/

There are approximately 59 million Americans living in association governed communities and according to an article in the Star-Telegram, many of them are facing foreclosure because of past due homeowners association dues.

The article said:

Thousands of Americans who have generally kept up with their mortgages are still in danger of losing their homes because they made a fateful trade-off in this shaky economy — they let their homeowner …

Permalink: /foreclosures/is-your-homeowners-association-foreclosing-on-you/

… many first-time buyers to make the leap into homeownership.

The article said:

“The National Association of Realtors estimates around one-third of home sales this year reported nationally are first-time home buyers. In a normal market, it’s between 10 and 15 percent.”

But how many of these first-time buyers are financially prepared for the responsibilities of homeownership?  Usually, saving and parting with a hefty down payment is preparation for and evidence of a buyer’s …

Comment by Jacob Decker: … supply and demand will level the …

Category: Bankruptcy , Debt and Tax Relief , Foreclosures

Tags: foreclosure Loan Mortgage National Association of Realtors Tax credit U.S. Housing Market

… .  The best offense is to be defensive in applying for student loans.  Historically, students and parents borrowed money for a majority of college expenses. However, over the last two years, more parents and students are become more prudent in their choices regarding college to alleviate many of the problems with student loans.

According to an article in the Austin American Statesman, “A National Association for College Admission Counseling survey released this month showed 71 percent …

Tags: Education National Association for College Admission Counseling Student Undergraduate education United States

According to an article in the U.S. News and World Report, the American Bankers Association announced record high delinquencies in consumer loans.  They attribute the increase to the almost 6-million jobs lost since the beginning of the recession.  Delinquencies are not limited to a particular type of loan.  The highest rate of delinquencies is in home equity loans.  They have gone from 3.03 percent to 3.52 percent.  …

Comment by Jacob Decker: … You should call and speak with an attorney to obtain a …

Tags: American Bankers Association Credit card Federal Reserve System Unemployment

… to an article in the Dallas Morning News, mandatory arbitration clauses in credit card agreements and other consumer agreements may be in its final days.

The article said:

“…the Obama administration’s proposal to create a Consumer Financial Protection Agency includes giving the agency broad authority to restrict or eliminate consumer arbitrations…J.P. Morgan Chase will no longer submit credit card disputes to arbitration and is re-evaluating the inclusion of arbitration …

Tags: American Arbitration Association Arbitration Bank of America Business Credit card JPMorgan Chase

… purchased more than 910 days prepetition. The creditor was owed $12,213. The vehicle’s Kelley Blue Book Private Party Value was $9,430. The debtor’s plan proposed to pay the creditor $9,430 plus 5.25 percent annual interest in 36 monthly installments. The court confirmed the debtor’s plan.

The bankruptcy court allowed the debtor to reduce the amount of the claim because he provided proof that the replacement value of the vehicle according to the Kelley Blue Book was $9,430 and the …

… General Motors has announced that it will be forced to implement job losses because only 6,000 GM blue-collar workers have taken the latest round of early retirement and buyout offers. General Motors, which has 54,000 factory workers, has stated that it wants to slash its workforce to save labor costs and survive the economic downturn.

Via the Star-Telegram

“GM has about 54,000 factory workers and wants to end the year with 40,500, a cut of about 13,500. Monday’s report means …