When filing for personal bankruptcy in Massachusetts, you can have a multitude of questions. You may want to know whether one can keep assets like a home, car or furniture after filing for bankruptcy. Understanding which property may be exempt in your bankruptcy proceeding requires an understanding of the federal Bankruptcy Code and specific state...Read More
By Donna Goodison And Jerry Kronenberg Royal Bank of Scotland subsidiary has agreed to pay $52 million to settle charges that it traded more than 700 “presumptively unfair” sub-prime mortgages given to Massachusetts homeowners during the housing boom. The payment will settle allegations that RBS Financial Products Inc., formerly known as Greenwich Capital Financial Products...Read More
The ink was barely dry on the bankruptcy filing of AMR Corp., the parent company of American Airlines, when Chris in Tulsa wondered “why companies can get away with things that individuals can’t.” “If I try to walk away from my debts and my creditors, everything in my life would be (messed) up for a...Read More
By Jon Chesto The Patriot Ledger For the first time in more than a year in Massachusetts, the foreclosure rate headed upward again when compared to the same month in the prior year. The Warren Group reported that lenders and mortgage servicers filed 1,193 initial petitions to foreclose last month, a 5.9-percent increase from the...Read More
Credit Card Debt Credit card debt cases are accelerated as we over leverage ourselves and live beyond our means. A continuous rise in the default cases is in turn weakening the complete financial system. The problem seems similar to the mortgages gone bad dilemma. People are lagging behind in their credit card payments, number of...Read More
Three states conducting their own probes of residential mortgage practices are resisting broad liability releases sought by banks to settle a nationwide foreclosure investigation. The banks, in settlement talks with state and federal officials, are seeking releases that would protect them from future legal liabilities. Massachusetts Attorney General Martha Coakley said yesterday she won’t endorse...Read More
