S. 3197 The National Guard and Reservists Debt Relief Act is on the way to the White House for the President's signature which will make it a law. The House of Representatives and the Senate both approved the bill unanimously. Once the President signs this bill, and it becomes law, it will amend the Bankruptcy Code.
Continue reading "National Guard and Reservist Debt Relief Act Passes Congress" »
While we slept last night, some pretty interesting things were going on overseas. All one has to do is go to CNN.com or Foxnews.com and see that overseas markets tanked last night, and in response, the Federal Reserve Chairman, Ben Bernanke, cut the key interest rate down to 1.5% from 2%. The Fed had not cut the rate since June of 2008.
Continue reading "The Federal Reserve Cuts Interest Rate One Half Point" »
Recently, I wrote a blog entitled What is LIBOR? for Mortgage Law Network. It would be a good time to review that article now because LIBOR is going through the roof. Simply put, LIBOR is the London interbank offered rate. What? Good Question. It is the average rate that banks in and around London lend money to one another. Another Good Questions is: Why are we talking about LIBOR?
Continue reading "LIBOR Rises 157 Basis Points To 3.94 percent" »
Believe it or not, I am an optimist. I just cannot find anything optimistic to say about the stock market right now except, Thank God for Dollar Cost Averaging. In the last 15 months, we have managed to take the country further down the toilet than ever before. I say we, because we all must suffer some blame in this game. We voted these meat-heads into office, and we allowed them to create laws on our behalf and run our country. We also allowed them to put our country's future at risk by allowing Wall Street to run amok. Now we are beginning to pay the piper for being lazy. Our 401K plans have been on Nutri-System lately, and now they look like 201K plans.
Continue reading "$2 Trillion Dollars Loss In Retirement Funds" »
The numbers are coming in for September car sales, and the numbers don't look good at all. Interestingly, the imports didn't do so good, and they usually keep ahead of the curve when it comes to slumping sales. Toyota sales fell 32.3%, Honda slumped 24% and Nissan plummeted 37%. In the domestic category; Ford fell 34%, Chrysler 33% and General Motors fell 15.8%. GM was aggressively marketing its vehicles and it paid off for them, but the industry as a whole is not looking good. This is a sign of things to come.
Continue reading "September Car Sales Plummet 27%" »
I am extremely proud of our leaders who stood against the bailout. You must remember that as a Bankruptcy Attorney I would love to see the bailout bill pass with a reformation of the Bankruptcy Code. As an American citizen, I would love to see the bailout fail because in my opinion it rewards years of corporate greed and does nothing to help the people who would be paying for it.
Continue reading "$700Billion Bailout Fails" »
On July 31, 2008, the Credit Cardholders Bill of Rights Act of 2008 passed through the House Financial Services Committee. This bill aims to curb outrageous credit card practices like: bait and switch contract clauses, outrageous interest rate increases, prohibiting credit cards to minors, etc.
It is important for all of us to call our local representative. Please click here for a link to all the Florida members of the House of Representatives to find your local representative and contact them today. This bill needs to become law. It is not the best that our leaders can do, but it is a start. Remember, our elected officials have to play politics with the lobbyists. So, please call your local representative and ask them to vote for H.R. 5244 as it exists today. Otherwise, our leaders may muck up the bill with amendments.
Continue reading "Credit Cardholders Bill of Rights Act of 2008" »
As reported on msnbc.msn.com, a Bankruptcy Judge in St. Louis ordered a larceny victim to pay damages to the thief who stole from him for violating the automatic stay, and to make matters worse, the victim had to pay the thief's attorney's fees. Obviously, there is more here than meets the eye. The victim, Mark Poveromo, had hired the thief, Mark R. Koch, to build a building. Koch received half the money up front and never started building. In Southwest Florida, I don't think that is a crime anymore. Anyhow, Poveromo filed a criminal complaint, and Koch was convicted of larceny and ordered to pay restitution.
Continue reading "Bankruptcy Judge Orders Victim To Pay A Thief" »
In a recent article by the Boston Globe, it seems that more and more Americans with no-where else to go are resorting to living in tents. Whether it is due to a loss of work, loss of home or just no-where else to go, the rate of homeless people in America is rising dramatically. So far, this has not become a problem yet in Southwest Florida, but we really don't know how many people have moved into secluded areas as squatters yet. I'm willing to bet that we have our fair share of people camping in secluded areas.
This is one of the issues I grappled with when I wrote my 2008 predictions part I and II. I really had hoped that it wouldn't get this far this quickly, and I am afraid that it is only going to get worse.
Continue reading "Tent Cities Are Beginning To Pop-Up" »
Ladies and Gentlemen:
Changes are coming to the Florida Bankruptcy Lawyer Blog whether you like it or not. It's time to kick the tires and light the fires and slap a new coat of paint on this puppy. We also might throw in some cool features like a new website and a new look for the Florida Injury and Accident Lawyer Blog as well.
So, keep your eyes peeled, and watch out for the new stuff. It may just hit you right between the eyes.
Continue reading "Changes, They Are A Coming" »
The Dellutri Law Group, P.A. is pleased to announce that we have opened a new office for our Naples clients. The new office is located at the Fountain Park Center, 7935 Airport Pulling Road, Suite 200, Naples, Florida 34109. Our Naples phone number is 239-403-3011, and the fax number is 239-939-0588.
Continue reading "Naples Office Is Now Open For Bankruptcy Clients" »
As a Board Certified Consumer Bankruptcy Attorney, I see Bankruptcy clients all week long. This week, I saw a potential client who was convinced that her foreclosure was going to continue if she filed for bankruptcy protection. Since she had never filed for bankruptcy protection before, there is no limitation on the automatic stay provisions. The automatic stay is an injunction that goes into place immediately to prevent a creditor from taking any action to collect on a debt. That includes continuing the foreclosure process.
Continue reading "Bankruptcy Stops Foreclosure!" »
