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When the client finally got me a copy of the car finance contract, it saved them $7000 on the price of the car.

They’d tried just giving me the monthly statement.

But that statement on the car loan didn’t show the bombshell that I found when I finally got the contract:

Included in the loan for the new car was the unpaid balance on the trade in!

In bankruptcy-speak, that’s negative equity, and negative equity isn’t entitled to payment in full in Chapter 13.

So we can reduce what they  pay for the car by the $7000  of the loan that paid off the trade-in.  It really was worth the effort to find the contract.

Read More from: The Soap Box

1 week 5 days ago

Grant McNuttIf you filed for an Extension of time to file your 2017 Federal Tax Return, you have until October 15, 2018 to submit your return.

To make sure you meet your tax obligations, you should file an accurate tax return. If you make an error on your tax return, it will likely take longer to process and could delay a refund. You can avoid many common errors by filing electronically, which is the most accurate way to file a tax return.

Here are several common errors to avoid when preparing your tax return:

Read More from: Bonds & Botes, P.C.

1 week 5 days ago

Profits at big banks should be solid if not spectacular; the Vermont senator proposes a hard cap on assets held by the biggest banks.

Read More from: BankThink

1 week 5 days ago

Currently, the vast majority of bank tellers are female and most don’t earn a living wage.

Read More from: BankThink

1 week 5 days ago

Protect the Voice of Shareholders aims to oppose H.R. 4015, the Corporate Governance Reform and Transparency Act, that passed the House last October.  While not effective, the Act is perhaps best known for requiring that the SEC withdraw the no-action letters to Egan Jones and ISS, which the SEC itself undertook recently, as we previously discussed.

1 week 5 days ago

ATD Corporation, along with nine affiliates and subsidiaries, has filed a petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12221).  ATD, headquartered in Huntersville, North Carolina, is the largest replacement tire distributor in North America, with 122 distribution centers across the United States and another 24 in Canada.  According to the First Day Declaration, ATD’s filing was precipitated by the recent decisions of Goodyear Tire & Rubber Company and Bridgestone Americas, Inc.

1 week 5 days ago

ATD Corporation, along with nine affiliates and subsidiaries, has filed a petition for relief under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12221).  ATD, headquartered in Huntersville, North Carolina, is the largest replacement tire distributor in North America, with 122 distribution centers across the United States and another 24 in Canada.  According to the First Day Declaration, ATD’s filing was precipitated by the recent decisions of Goodyear Tire & Rubber Company and Bridgestone Americas, Inc.

1 week 5 days ago

Nowadays, you would be hard pressed to go without hearing about cryptocurrency. If you do not already know, cryptocurrency is a digital or virtual currency that uses cryptography for security. This also means they act independently of a central bank. The most popular form of cryptocurrency is Bitcoin, which was created in 2009. Since then,......
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The post Cryptocurrency and Bankruptcy appeared first on The Law Office of Joel R. Spivack.

1 week 5 days ago

Chapter 13 bankruptcy does stop foreclosure, but does not force changes in the first mortgage on a home in which you live. So, if your home is worth a lot less than you owe on the first lien, and you have no second mortgage, it...

The post Foreclosure and Bankruptcy appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.

Read More from: Stop Creditor

1 week 5 days ago

For her trailblazing career on Wall Street, Byrne will be honored on Thursday at American Banker’s Most Powerful Women in Banking gala in New York.

Read More from: BankThink

1 week 5 days ago

The legislation would require the restructuring of financial institutions that have a total exposure exceeding 3% of the nation’s GDP.

Read More from: BankThink

1 week 5 days ago

The bank has long collected data about digital interactions. Now it’s adding tech to gain knowledge from phone call to better understand each customer.

Read More from: BankThink

1 week 5 days ago

Whitney Austin is still recovering after being shot 12 times by the man who killed three people in the Cincinnati bank’s headquarters branch last month. The digital product manager has a new cause, has formed a foundation and is rethinking working life as she prepares to return to the bank.

Read More from: BankThink

1 week 5 days ago

The regional bank is putting its corporate stamp on branches in the two states.

Read More from: BankThink

1 week 5 days ago

To personalize products and services, banks are now tracking all sorts of alternative data sources, even the manner in which customers type in mobile banking apps.

Read More from: BankThink

1 week 5 days ago

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution.

Read More from: BankThink

1 week 5 days ago

Hanmi alleges that SWNB's directors actively advised the Houston bank's investors to reject the merger.

Read More from: BankThink

1 week 5 days ago

For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.

Read More from: BankThink

1 week 5 days ago

Senate Democrats on Wednesday called for acting CFPB Director Mick Mulvaney to reveal the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused an uproar at the agency.

Read More from: BankThink

1 week 5 days ago

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