For the past 10 years, our dependence on credit cards has grown exponentially. But as the credit crunch worsens many Americans are finding it difficult to fund the things they want or even need.  Christmas is right around the corner and if you don’t want to charge up a pile of credit card debt, you need to get another plan for paying for those Christmas gifts.  Layaway plans offer a …

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Yellow pages publisher R.H. Donnelley Corp has emerged from Chapter 11 bankruptcy as a new company, Dex One Corp.  The company emerged from bankruptcy after shedding $6.4 billion in debt and $500 million in annual interest payments.  The yellow pages publisher filed for Chapter 11 bankruptcy in May after arranging a prepackaged bankruptcy with its creditors.

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The House Rules Committee just minutes ago agreed to allow the bankruptcy modification amendment to be considered on the House floor as an amendment to the broader financial services reform bill AS EARLY AS THIS AFTERNOON!!

H.R. 4173 being offered by Reps. Conyers, Turner, Lofgren, Marshall and others  …

In the bankruptcy case of Wise, Vernon R. and Jennifer P.; In re , the bankruptcy court denied a creditor’s mo­tion to set aside the confirmation order and dismiss the debtors’ Chapter 13 bankruptcy case.

The details of the bankruptcy case:

The Chapter 13 debtors received their credit counseling on the same day that they filed for bankruptcy protection. Four days after …

In the Chapter 13 bankruptcy case of Cobb, Sean C. and Cathy S., the bankruptcy court agreed with a creditor that the debtor’s plan should not be approved.

The details of the bankruptcy case:

Early in September 2008, the debtor purchased a 2009 Chevrolet Malibu from a dealer. He took possession of the car on the same day that he signed a contract to finance the purchase through …

In the Chapter 7 bankruptcy case of Sparks , Jeanette R.; In re , debtor is allowed to keep homestead exemption despite bankruptcy trustee’s objection; but is not allowed to exempt $514 held in a mutual fund account.

The details of the bankruptcy case:

“The 55-year-old, unemployed Chapter 7 debtor owned an interest in her home, which she claimed as exempt pursuant to Section …

Let’s clear one thing up right now:  going financially bankrupt does not automatically mean you go morally bankrupt as well.

Unfortunately, all too often I come across people who fear that admitting they’ve gotten in way too deep financially means that it somehow makes them a “bad” person.  Let’s get that cleared up right now:  going financially bankrupt does not mean you go …

According to an article in Reuters, the U.S. House of Representatives approved legislation last week that would cut major banks and student loan giant Sallie Mae out of a large slice of the $92 billion university student loan business if passed by the Senate.  Under the bill H.R. 3221 –the Student Aid and Fiscal Responsibility Act of 2009, all new student loans would originate with the …

The Texas Tomorrow Fund (now known as the Texas Guaranteed Tuition Plan) which allowed parents to prepay for tuition at locked-in rates is facing bankruptcy .  The now-closed fund, also promised that if a child dies or received a full scholarship, parents could cancel the contact and receive a payout based on current tuition and fees at public universities.  Sounds like a sweet deal?  The …

According to an article in the Star-Telegram, Freedom Communications has filed Chapter 11 bankruptcy and agreed to give their creditors a majority stake in the business in exchange for forgiving a substantial portion of their debt.

The article said:

“The filing by Freedom Communications Holdings Inc. was part of a prepackaged plan approved by a majority of the company’s lenders, …

Right now, most credit card consumers are required to agree to mandatory arbitration when disputes arise in order to receive their credit card.  But according 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 …

In the bankruptcy case (Barrows, James R. and Terri L.; In re (Bar¬rows v. Christians, Trustee)), debtors accused of acting in bad faith after borrowing funds from their retirement account on the eve of their bankruptcy filing.

The details of the bankruptcy case:

In the Chapter 7 bankruptcy case, the debtors completed their bankruptcy paperwork stating that they had an average daily …