Bankruptcy Information

Institutional lenders understand well Florida’s tenants by entireties protections, and they understand that they may not be able to enforce promissory notes against a married borrower unless the note is signed by both the borrower and his spouse. For this reason, most lenders will insist on joint signatures to loans or guarantees of business loans where a single spouse is the primary loan applicant. A common example is a husband who runs and owns a business applies for a commercial loan, and the bank approves the loan conditional upon the wife co-signing a guarantee even though the wife has nothing to do with the business and has no independent income.

A recent Florida appellate case held that banks’s demand joint signatures on loans or guarantees may be illegal when the loan is adequately supported by the applicant spouse’s income and credit score. The court suggested that a bank’s request for the spouse’s signature when the bank is simply trying to defeat entireties ownership may be in violation of the Equal Credit Opportunity Act, 15. U.S.C 1691.

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Tags: Florida, Promissory Note

Payday loans are a great offering. They provide you with quick and easy cash in times of emergency. The payday loans serve many purposes. They are meant to meet small, unexpected emergency expenses cropping up from time to time. The application for the payday loans is of utmost significance. You need to go over the application form provided before getting started. There may be questions about various personal details pertaining to you and your income. These need to be correctly answered. Certain things worth keeping in mind while making applications for payday loans are:

· You need to apply with a single lender. If you are making a number of applications to various lenders then there is every possibility of your application getting rejected by all. The reason for this is that every payday lender checks your application from a national database of applications and upon detection of pending application for payday loans in your name made to other lenders then they will reject your application made to them.

· Payday loan applications preferably need to be made towards the beginning of the week and by Thursdays. T

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Tags: Loan, Payday Loan

According to the American Bankruptcy Institute and the National Bankruptcy Research Center, personal bankruptcies were down for the fourth consecutive month in October.  2.1 percent fewer personal bankruptcy filings were filed in the U.S. in October than in September.

The 106,255 personal bankruptcies filed across the country last month were also down by 19.6 percent from a year before in October 2010.  Officials cite a decrease in the use of credit and a restriction in lending from banks as reasons for the decrease in bankruptcy filings.

“The declining filings correlate to tightened consumer spending and the overall pullback in consumer credit associated with a stagnant economy,” said ABI executive director Samuel Gerdano.

Tags: Consecutive Month, Month

Unlike red wine, the information you provide a bankruptcy lawyer does not improve with age.

Bankruptcy information is far more like fish:  no longer palatable after it sits for a while.

A bankruptcy filing is a snapshot of the clients situation on the day the case is filed.  From the point when the case is filed,  bankruptcy law looks backward and forward.  The rights of all of the parties are driven by the passage of time.

For instance the statement of financial affairs  looks back at  recent financial history:

• Income year to date
• Income for the past two years
• Payments on old debts in 12 months
• Transfers or gifts in past 24 months

The means test analyzes income for the six months before the month in which the case is filed.  A drop in income may make your bankruptcy filing simpler; a substantial increase may require reconsidering your choice of chapter. Lives are fluid and when months go by between starting work on preparing bankruptcy documents, the changes can have significant consequences.  Bank Read full post…

Tags: Bankruptcy Information, Red Wine, Wine

The markets have a “shoot first and ask questions later” mentality that is not really working too well for Jefferies Group, Inc. (NYSE: JEF) right now.  After the MF Global implosion, investors are looking for the “who could be next” in the soup.  A report out of credit ratings firm Egan-Jones has brought up concerns of it needing capital and that its borrowing costs are high.  It also noted that the leverage was too high at 13-1.   To show how bad this is, Jefferies shares closed at $14.72 on Friday, October 28.  Since the MF Global implosion, shares today are now down to $11.60 after another 5% drop.

What is sad is that Jefferies has denied having a massive exposure to European debt.  The company refuted this: “To be clear, as of August 31, 2011, Jefferies had no meaningful net exposure to European sovereign debt. Recent reports a

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Tags: Jef