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Credit Slips
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A discussion on credit and bankruptcy.
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Debt Distress: Symptoms and Treatment
From the United Kingdom comes an interesting new study, based on a survey of more than 10,000 applicants for legal aid about their problems and the means they use to address them. The study explores the linkages between overindebtedness and...
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Fortune on Chapter 11 Costs
One of the best articles I've seen on this topic in the mainstream press. "Best" because the author does not become distracted by the hourly rates or the large numbers involved -- unlike the Times' recent effort in this regard.
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One of Every Nine Bankruptcy Cases Is Filed Without a Lawyer
A few weeks ago, I pulled a national random sample of chapter 7 and chapter 13 cases filed by individuals during July and August of 2010. I kept track of how many were filed by pro se debtors, that is...
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In Connection With
The litigation between Chase and Lehman (10-03266 (JMP)) is heating up, with Chase filing its motion to dismiss all of Lehman's claims. While Lehman's claims are many, the ones that are of special interest to me are those fraudulent transfer...
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Foreclosure Crisis Update
New numbers are out for the second quarter from the Mortgage Bankers Association’s National Delinquency Survey and HOPE NOW. After three years, the ramp-up phase of the foreclosure crisis seems to be ending, as the rate of mortgages in default...
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The Fed's Apparently Nonexistent Interest
Last week, Katie proposed that we might have a blog category for "Beyond the Comfort Zone." I'll add another new category: "Things Bob Does Not Understand." It's sure to have lots of entries. Here is what I don't understand today....
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Consumer Law
Credit Slips is a self-proclaimed blog about "credit, finance, and bankruptcy." Much of our discussion here focuses on consumer credit, which also makes up a large amount of what gets taught in law school courses on "consumer law." Jeff Sovern...
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Chase Amassing Lehman Claims
On Monday, JP Morgan Chase reported that it had purchased more than $60 million in claims from Raiffeisen Zentralbank Osterreich AG. In July Chase bought about $200 million in claims. And while Chase has sold some claims too -- back...
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Explaining the Housing Bubble
Some self-promotion: I've posted a new paper to SSRN, coauthored with Susan Wachter (Wharton). It's entitled "Explaining the Housing Bubble." Here's the abstract: There is little consensus as to the cause of the housing bubble that precipitated the financial crisis...
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Fringe Lending and Consumer Welfare
Like Katie Porter, I found Professor Jim Hawkins' paper on fringe lending valuable for challenging some of the premises underlying calls for stricter regulation of fringe lending products like payday loans. In my view, there are empirically testable criteria for...
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Bankruptcy News