While the Great Recession, touched off by the abuses in the housing market in the years leading up to 2007, has wreaked havoc on the economy of the United States, it has also caused some positive changes in the economic landscape. One of these changes, reported here by Reuters, is a system of monitoring and [...]

In an exciting decision handed down by the Supreme Court this week, the justices ruled that individuals who file for protection under Chapter 13 of the U.S. Bankruptcy Code are entitled to have their repayment plans based on their expected income during the next three- to five-year period, rather than on the six-month period preceding [...]

The taxes may be done, but what should you do if the IRS decides to conduct an audit? A recent article from CNNMoney asks just this question, and they offer some tips that could be good to know if you find yourself in that situation.
The number of audits is going up
Over the last ten years, [...]

A variety of consumer protection measures have been proposed in the past week or so, and some of them would be pretty exciting if they passed into law. Here’s a look at what to watch out for in the coming months.
FCC to Help with Cell Phone Bills
The Federal Communications Commission reported this week that it [...]

Bankruptcy fraud has gone largely un-prosecuted this year, thanks to greater attention being paid by FBI investigators to other types of white-collar crime, according to a report from Bloomberg News.
According to sources, only 82 cases of bankruptcy fraud were tried in the fiscal year ending September 30. This total is apparently the lowest it’s been [...]

Creditors in Chapter 13 bankruptcy cases would need to verify their claims to debts in order to be included in a repayment plan under new local rules currently under consideration in the U.S. Bankruptcy Court in the Eastern District of Wisconsin.
The requirement of secured creditors would provide more transparency for debtors whose loans may have [...]

The House of Representatives passed a sweeping financial reform bill Friday, but failed to approve an amendment that would have allowed bankruptcy judges to renegotiate mortgages of homeowners filing Chapter 13 bankruptcy.
Mortgages in Bankruptcy
Under current bankruptcy law, some filers can prevent or postpone mortgage foreclosure by filing for Chapter 13 bankruptcy. Here’s what Chapter 13 [...]