May 22, 2012

Mortgage Cramdown Provision May Reach House Floor Today

Earlier today, the House Rules Committee agreed to allow the mortgage modification in bankruptcy provision to be considered as an amendment to the broader financial services reform bill. The issue could reach the house floor as early as this afternoon,...

Medical Bankruptcy

Consumer Debt Rose $21 Billion Last Month Thanks to Credit Card Use

The total amount of consumer credit circulating in the United States rose by more than $21 billion last month, raising concerns that more people … [Read More...]

ResCap Files For Bankruptcy, Eyes Paying Back Taxpayer Bailout Money

Ally Financial Inc’s mortgage unit, named Residential Capital (ResCap for short), filed for bankruptcy on Monday, according to Reuters. Ally … [Read More...]