MachiLaw.com » General

Hostess Losing Creamy Filling

Chris — Thu, 12 Jan 2012 20:56:00 +0000

The snack food company Hostess Brands filed for Chapter 11 on January 10, 2012, about seven and a half years since its previous bankruptcy claim in September of 2004. Last Wednesday, Hostess said it would be reforming into a more competitive company. While Hostess lists about $860 million in debt the company still has enough money to keep stores stocked with their products. Additionally, Hostess didn’t announce any job cuts, but Hostess spokesman Lance Ignon said the company will decide on matters that protect the best interests of the company.

Read the full story at the Huffington Post.

Victim of Credit Fraud?

Chris — Sun, 01 Jan 2012 21:27:08 +0000

Consumer credit sales and home mortgages are some of the most regulated transactions in the American economy. State and federal statutes place certain restrictions on the conduct of mortgage lenders, retailers, debt collection agencies, and credit reporting companies. Nevertheless, we hear so many complaints about fraudulent credit practices you’d think the fair credit laws had never been passed.

If you think that you have been damaged by unlawful or deceptive credit practices by a mortgage company or bank, an auto dealer or sales financing company, a debt collector, or a credit reporting agency, contact Machi & Associates, PC today. Our familiarity with the federal and Texas statutes that regulate consumer lending, together with our 30 plus years of experience in North Texas courts can be a major advantage for the prosecution and enforcement of your claim.

The Texas unfair credit practices lawyers at Machi & Associates, PC represent consumer clients on claims involving the following:

Unfair practices in the auto sales and retail credit markets, such as “loan packing”, or undisclosed charges for credit insurance or disability insurance
Violations of the Fair Credit Reporting Act, such as false reports of overdue payments or the confusion of another person’s credit history with yours
Predatory lending practices in the residential finance industry, including “mortgage flipping”
Nondisclosure of balloon payments, adjustable rate terms, default conditions, or other terms in violation of the Real Estate Settlement Practices Act
Violations of federal truth-in-lending requirements by credit card companies or other consumer retail lenders
Unfair debt collection practices, such as harassing phone calls or attempts to collect satisfied or unenforceable claims

Avoid Foreclosure Through Declaring Bankruptcy

Chris — Fri, 30 Dec 2011 05:36:53 +0000

Even with the recent rise in the economy, foreclosure is a major possibility for millions. Filing for bankruptcy can delay a foreclosure so you can negotiate with a mortgage lender.Obama’s expansion of the Home Affordable Refinance Program will allow several refinances of mortgage lenders of Fannie Mae and Freddie Mac.

Read the full story at the Nuwire Investor.

The Reason Bankruptcy Filings Have Decreased From Last Year

Chris — Thu, 29 Dec 2011 02:27:13 +0000

There has been a decrease from last year in bankruptcy filings due to new changes between banks and consumers. Banks have started tightening credit, and mortgage lenders have stopped foreclosures due to challenges in their internal processes. Some debtors will have already filed for chapter 7 bankruptcy in the past two years, or need to wait eight years from filing their last chapter 7 bankruptcy.

If a Loved One Passes Away

Chris — Fri, 23 Dec 2011 20:57:36 +0000

If a loved has passes away with debt their debt dies with them. Unless members of the deceased family co-signed with the loan, they are usually not legally obligated to pay. This doesn’t stop debt collectors from harassing families to pay the debt. The number of debt collectors using this deplorable tactic has grown in recent years. They work on the behalf of financial giants such as; Bank of America, Capitol One, and others. Targeting families when they are at their most vulnerable.

Read the full story at the Wall Start Journal.

Harrisburg City Council’s Appeal on Bankruptcy decision

Chris — Sat, 10 Dec 2011 16:05:36 +0000

Federal bankruptcy judge, Mary France, made a ruling last month that Harrisburg, Pennsylvania may not seek bankruptcy protection. Harrisburg is burdened with about $300 million in debts related to the city’s old trash incinerator. After the machine was hindered with environmental problems and fines for numerous years the Environmental Protection Agency shut down the incinerator. Harrisburg’s City Council attorney filed an appeal with the U.S. District Court for the Middle District of Pennsylvania on Saturday about Judge France’s decision to discard the bankruptcy petition of the city.

Read the full story at the Sacramento Bee

US Postal Service Making Cuts to Avoid Bankruptcy in Upcoming Spring

Chris — Mon, 05 Dec 2011 22:55:05 +0000

The U.S. Postal Service’s first-class mail will slow down next spring due to the company cutting costs to try and avoid bankruptcy next year. The cuts would close 251 mail processing centers around the country as well as cutting about 28,000 jobs. Changes are expected, such as delays and added costs to mail delivery. Public opinion is opposed to the cuts, Maine Senator Susan Collins the top Republican on the Senate committee overseeing the post office thinks the agency is moving in the wrong direction, and the service cuts will push consumers to online bill payments and private carriers such as UPS and FedEx.

Read the full story at the Washington Post

American Airlines’s Parent Company AMR Files for Bankruptcy

Chris — Mon, 05 Dec 2011 03:43:57 +0000

American Airlines’s parent company, AMR, filed for bankruptcy last week, leaving many DFW residents concerned with the airline’s future. Economic experts say AMR’s bankruptcy will have more have smaller effect than thought on Tarrant county’s economy. Director of the Maguire Energy Institute at Southern Methodist University and economist, Bud Weinstein, said ” We won’t see any effect in the short term, but in the long term American’s impact in the region’s economy will be smaller than it is today.”

AMR filed bankruptcy not to shrink drastically, but to relieve debt and pension costs. The early estimates of how much the pension cuts would be about $1 billion.

Read the complete story in the Star Telegram.

Ten Year Anniversary of Enron’s Bankruptcy

Chris — Fri, 02 Dec 2011 16:15:25 +0000

Today marks the ten year anniversary of Enron’s bankruptcy filing. At the time it was the largest bankruptcy in U.S. History. Enron’s collapse was the fault of greed and abuse of accounting standards. Remind yourself of this corporate scandle.

U.S. Postal Service Announces Rate Increase to Avoid Bankruptcy

Chris — Mon, 21 Nov 2011 13:43:02 +0000

Expect new postal rates on January 22. The U.S. Postal Service is attempting to avoid bankruptcy by raising rates on its more profitable services next year. The post office lost over $5 billion last year.

Here are some of the rate increases:

U.S. Postal Service Mail Class	New Postage Rates	Previous Postage Rates
First-Class Mail letter (1 oz.)	$0.44	$0.44
First-Class Mail letter – each additional ounce	$0.20	$0.17
Postcard	$0.29	$0.28
First-Class Mail flat (1 oz.)	$0.88	$0.88
First-Class Mail parcel (1 oz.)	$1.71	$1.22
Certified Mail^™ (in addition to postage)	$2.85	$2.80
Signature Confirmation (in addition to postage)	$2.45	$2.35
First-Class Mail International to Canada (1 oz.)	$0.80	$0.75
First-Class Mail International to Mexico (1 oz.)	$0.80	$0.79
First-Class Mail International to all other countries (1 oz.)	$0.98	$0.98
Priority Mail (1 lb.)	$5.10 (and up)	$4.90 (and up)
Express Mail (0.5 lb.)	$13.25 (and up)	$13.65 (and up)

See Notice from U.S. Postal Service.