» Interesting Articles

Podcast - Panel for Consumer Commission discusses recommendations on BAPCPA's Credit Counseling requirement

Members of ABI’s Commission on Consumer Bankruptcy discuss the recommendations in the Final Report focused on the Code’s credit counseling and financial management course requirements, and asks the question: do the new provisions mak… Read More
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FactorLaw featured in Leading Lawyers Magazine, May 2019

An excerpt: “We are very much a family business, like many of the clients we are representing,” Factor says. “Providing top-notch service to our clients is the glue that holds us together. They’re getting the same service they would g… Read More
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According to a Recent Businessweek Article - Merchant Cash Advances are Wreaking Havoc on Small Businesses

In an earlier post FactorLaw discussed Merchant Cash Advances, which is a form of financing that appears to be marketed to certain types of small businesses, according to an article dated November 20, 2018 published in Businessweek (the “B… Read More
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Today's deregulation trends have not eliminated consumers' rights against deceptive businesses in Illinois

Even in the midst of trending de-regulation, consumers have protections from shady business practices in Illinois. The Illinois Consumer Fraud and Deceptive Business Practices Act is alive and well, and it allows individuals to bring actions aga… Read More
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5 Mortifying Reasons Mortgage Applications End Up in the 'Reject' Pile

An interesting article in Realtor.com explains why mortgage applications are sometimes denied.  According to the article a recent Federal Reserve study concluded that one out of every eight home loan applications (12%) ends in a rejection.  T… Read More
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Bankruptcy Filings among Elderly Increased Exponentially over Last 25 Years

According to an article posted today in the New York Times by Tara Segal Bernard, “[f]or a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy.” Ac… Read More
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Experts predicting increased ilIiquidity and link it to the climate that led to the 2008 crisis

According to a recent report by Morgan Stanley “market liquidity across assets is in decline” and  “low liquidity were the fundamental triggers of the 2008 crisis.”  Those bankruptcy practitioners that had first hand e… Read More
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Law360 Satisfaction Survey finds that student loans are burdening lawyers too.

According to Forbes magazine, “student loan debt is now the second highest consumer debt category – behind only mortgage debt – and higher than both credit cards and auto loans and according to Make Lemonade, there are more tha… Read More
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America is heading for a level of income inequality that hasn't been seen since 1928

Economists have noted that the level of income inequality between the top 1% and the rest of the country is approaching levels last seen in 1928, which, of course, was just before the tragic financial meltdown that pre-dated, or even caused, mas… Read More
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New Bankruptcy Rules Proposed for Student Debtors

This article in U.S. News and World Report provides a useful summary of some current efforts to address burgeoning student loan problem.  Well worth the read. Read More
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