Credit Slips
A discussion on credit and bankruptcy.
- Buce Is the World
Our correspondent, Buce over at Underbelly, wonders exactly how does one say "adjustable-rate mortgage" in Czech. Don't kid yourself that consumer indebtedness is uniquely American. On a different note, Buce also describes the similarities he sees between today's mortgage crisis... - Projecting the Past
The sloppy drafting of the 2005 bankruptcy amendments created a large number of ambiguous statutory provisions. Among them is section 1325(b)(1)(B) says that a debtor has to devote all of his or her "projected disposable income" to payment under a... - Spam Filter Trapping Comments
We've heard from a number of readers that our blog hosting service's comment-blocking software--er, I mean spam filter has been blocking legitimate comments. This seems to be a universal problem with Typepad blogs that they claim to have fixed, see... - Home Mortgage Crunch: Is it Better to Have Loved and Lost?
There is SO MUCH interesting on this site and in the TPM Cafe's posts today...not sure this stripdown thing is at the forefront of people's concerns, but....here are two more thoughts, relating to the economics of home mortgage stripdown and... - Oh! The efficiency of the current U.S. health care system
I know that the most recent posts have focused on the mortgage fiasco, but I'd like to insert a quick thought on health care/medical issues. I'll begin by laying my cards on the table---I am a strong proponent of a... - Live Blog Conversation on Mortgage/Bankruptcy Amendments
This morning, beginning at 10:00 AM 11:00 AM EST (in the U.S.), there will be a live blog discussion over at TPM Cafe's Warren Reports on the Middle Class. This discussion will feature Congressman Brad Miller and Credit Slips own... - Bankruptcy Blasphemy: (Continued) Embarrassment for the Wall Street Journal
Most days, I enjoy reading the Wall Street Journal. But I may have to cancel my subscription if the editors continue to miseducate the public and embarrass themselves about the pending legislation to allow for the modification of home mortgages... - Equal Footings
Professor Mark Scarberry of Pepperdine University posted a comment taking issue with my statement that the proposed mortgage stripdown bills would do nothing more than put home mortgage lenders on an "equal footing" with other secured lenders in chapter 13.... - More on the Home Mortgage Stripdown Bills…Why We Should Not Hurt People for No Gain to Anyone Else
Yesterday I posted on the topic of the essential nature of secured debt and why we should be consistent in how we treat it across the board. Today, I wanted to address some more specific points brought out in ABI... - New Twist on "Making a Federal Case Out of It"
Have you heard that expression, "Don't make a federal case out of it?" It's usually used to caution against blowing something out of proportion. Two recent decisions from federal courts in Ohio explained why the courts have an obligation to... - On the Home Mortgage Stripdown Bills…Why Perpetuate Philosophical Inconsistencies and Hurt People for No Gain?
Thank you for the opportunity to guest blog. As Bob indicated, I will blog about the stripdown of home mortgages for a couple days, take a brief hiatus and be back with you at the first of the year. Some... - Mortgage Deal Reached in House of Representatives
Newspaper reports (e.g., here from the Wall Street Journal) say that a deal has been reached in the U.S. House of Representatives to advance legislation that would give bankruptcy judges more power to adjust the payment terms of a home... - Welcome to Nathalie Martin
Credit Slips wants to welcome Professor Nathalie Martin as a guest blogger. We're going to do something a little different. She had planned to guest blog beginning January 4, updating the world on the bankrupt happenings of the Association of... - The Isolation of Debt and Other Such Things
As of today, 700 telephone interviews have been completed as part of the current round of data collection on the Consumer Bankruptcy Project. Since I am overseeing this part of the process, I have had the privilege of being one...