Collection Recon

American Airlines files for bankruptcy protection

Posted on 30. Nov, 2011 by Collections Recon.

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DALLAS (AP) — The parent company of American Airlines filed for bankruptcy protection Tuesday, seeking relief from crushing debt caused by high fuel prices and expensive labor contracts that its competitors shed years ago.

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PMI Group Seeks Bankruptcy After Regulators Take Over Main Unit

Posted on 28. Nov, 2011 by Collections Recon.

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Nov. 24 (Bloomberg) — PMI Group Inc. filed for bankruptcy protection after the mortgage insurer lost a court bid to undo the takeover by Arizona regulators of PMI Mortgage Insurance Co. (MIC), its main unit.

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Saab escapes bankruptcy as Chinese firms take over

Posted on 01. Nov, 2011 by Collections Recon.

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Beleaguered Saab appears to once again have narrowly avoided bankruptcy, announcing on Friday that two Chinese companies will buy it for 100 million euros ($142 million), making it the second Swedish carmaker after Volvo to take the road to China.

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Filing for bankruptcy has ‘automatic stay’ to stop bill collectors’ telephone calls

Posted on 28. Sep, 2011 by Collections Recon.

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For many people who find themselves deeply in debt, one of the worst experiences they can have is the barrage of telephone calls from bill collectors. While no one has the right to be abusive to debtors or to harass them incessantly, there are guidelines that govern such calls.

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Saab gets bankruptcy protection, and a second chance

Posted on 22. Sep, 2011 by Collections Recon.

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STOCKHOLM – A Swedish appeals court tossed a lifeline Wednesday to cash-strapped car maker Saab, approving its application for bankruptcy protection as it awaits funding from Chinese investors.

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Unions take bankruptcy action against Saab

Posted on 13. Sep, 2011 by Collections Recon.

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STOCKHOLM (AP) — Two Swedish trade unions filed bankruptcy petitions Monday against Saab Automobile, pressuring the troubled automaker to present a viable funding solution or face collapse within weeks.

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Bankruptcy Certificates to be Provided by Nonprofit Credit Counseling Agency

Posted on 29. Jun, 2011 by Collections Recon.

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Debt Management Credit Counseling Corp (http://www.dmcconline.org), a nonprofit charitable organization (“DMCC”), is now providing bankruptcy certificates for the pre-filing counseling and pre-discharge education required under the U.S. Bankruptcy Code. Consumers are not required to pay for the counseling or education course in advance. Open accounts are provided to attorneys to expedite the issuance of bankruptcy certificates for their clients.

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Delaware Bankruptcy Court Vindicates AutoZone in Four-year Litigation by Chapter 7 Trustee

Posted on 22. Jun, 2011 by Collections Recon.

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On June 9, 2011, a Delaware bankruptcy court ruled in favor of Memphis-based AutoZone, rejecting approximately $7 million in claims asserted by Montague S. Claybrook, the Chapter 7 Trustee for the estates of American Remanufacturers, Inc. (“ARI”).

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Giving Bankruptcy Judges “Cramdown” Power To Address Foreclosure Crisis

Posted on 16. Dec, 2010 by Collections Recon.

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December 16, 2010 /24-7PressRelease/ — Giving Bankruptcy Judges “Cramdown” Power To Address Foreclosure Crisis

The downturn in the real estate market two years ago was a major factor in sending America into recession. The subprime mortgage crisis exposed a house of financial cards, and the first wave of mass foreclosures began.