Filing for bankruptcy is more difficult since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 went into effect, according to two local attorneys.
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The sub-prime lender, a casualty of the changing mortgage market, owes more than $165 million. Ownit Mortgage Solutions Inc. of Agoura Hills, which shut down abruptly early this month, has filed for bankruptcy protection, saying it owes more than $165 million to Merrill Lynch & Co. and other financial firms that bought Ownit loans now in default.
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December 30, 2006
Need A Loan After A Bankruptcy? Possible If You Have Equity Posted By : Joseph Kenny
If you have had the misfortune to declare bankruptcy recently, then you definitely know what a struggle it can be to get funds. Not only do you have a limitation on your ability to get funds from most lenders, but even getting a credit card will not be easy.
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December 29, 2006
Bankruptcy Judge OKs Neoplan USA’s Plan (AP via Yahoo! Finance)
A bankruptcy judge has approved the Chapter 11 plan of Neoplan USA Corp., paving the way for the bus manufacturer to sell its profitable parts division and then go out of business.
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