Tag Archives: consumer bankruptcy

Government Shut Down & BK Courts

On December 22, 2018, the federal funding for certain agencies lapsed, and the United States government entered into a partial shutdown. The U.S. Department of Justice (DOJ), including the United States Trustee Program (USTP), was one of the agencies that shut down. United States Trustees (“UST”) representing the USTP appear and litigate in a multitude of bankruptcy proceedings. USTs also actively participate in out-of-court settlement discussions, plan negotiations, and the like. Pursuant to the partial shutdown, regular operations at the USTP ended, with only “excepted employees” continuing work on limited matters.

USTP excepted employees comprise a total of 35 percent of its employees. Excepted employees work without pay during the shutdown but will receive back pay after the government reopens. Remaining USTP employees who are not excepted are furloughed and will only receive compensation if Congress passes a bill allowing for it.

The contingency plan sets forth changes in the duties of DOJ employees. The contingency plan directs that civil litigation be halted except where the safety of human life or protection of property are at stake. Much of the civil litigation in which the USTP is a party does not involve such issues. The contingency plan further notes that DOJ attorneys should request stays in civil cases and reduce civil litigation staffing only to that necessary to protect human life and property. Several UST and DOJ attorneys involved in bankruptcy litigation have filed motions seeking stays of proceedings and extension of deadlines until the government reopens.

As the USTP continues to operate with its skeletal staff, certain bankruptcy processes will likely encounter delays. Although federal courts have rearranged funds to remain operational through January 18, should the shutdown extend beyond that date, bankruptcy matters such as plan confirmations and other court hearings will encounter similar delays.

Proceedings involving Chapter 7 and 13 trustees, including out-of-court discussions or negotiations, are unlikely to be delayed as these parties receive payments outside of government assistance.

Dodd-Frank Update

Last week The House voted to give final congressional approval to a major rewrite of banking rules that would revoke key elements of Dodd-Frank Act but still leaving most of it tact.

The President is expected to sign into law the “Economic Growth, Regulatory Relief and Consumer Protection Act,” which won House approval 258-159 as 33 Democrats and 225 Republicans voted for the bill. Officials say that it recalibrates regulation and risk in the financial services sector while promoting economic growth and new jobs.

The Senate Banking Committee Chairman said that the bill “right-sizes” regulations for smaller financial institutions, allowing community banks, credit unions and mortgage lenders to grow.

Key provisions of the legislation include:

  • Increasing banks’ asset threshold from $50 billion to $250 billion for extra regulatory scrutiny by the Federal Reserve.
  • Streamlining capital requirements and other exemptions from mortgage-lending rules for community banks.
  • Amending the Volcker rule for banks with less than $10 billion in assets in an effort to bolster market liquidity and decrease risk to the financial system in economic downturn.
  • Repealing the Department of Labor’s fiduciary rule, which aimed to minimize supposedly conflicted investment advice given to retirement savers.

Although Republicans claim the bill is a deregulatory effort, GOP lawmakers weren’t able repeal Dodd-Frank in its entirety. Key provisions remain, including the Consumer Financial Protection Bureau and Washington’s authority to unwind failing large banks.

$1 trillion in credit card debt

American consumers have the highest amount of revolving credit debt in U.S. history.  As of June, Americans had $1.021 trillion in outstanding revolving credit, according to data from the Federal Reserve. Of the $1.021 trillion in outstanding revolving credit, $1 trillion is credit card debt. Prior to June, the record for outstanding revolving credit was $1.020 trillion, set in April of 2008.

Marketing Data

Data is king and choosing the right marketing lists is essential to the success of your marketing strategy and results. Our Bankruptcy file provides robust and comprehensive data including the most current data available combined with rich history as our records date back to 2002.

Unlike many competitors, we compile our database, which is over 20 million records today and contains a wide array of information such as filing dates, dismissals, discharges, Chapter 7 and Chapter 13. All of our data is standardized, CASS Certified, DPV coded and an NCOA (National Change of Address) is run as data is gathered prior to submission to our master database. We gather the data directly from local courthouses nationwide and guarantee that you are receiving the most up to date and accurate data available.

Our count system is lightning fast, easy to use and available 24 hours a day. We have an assortment of count selects available such as geography, status or previous order suppression. Our output menu includes case number, chapter, discharge or dismissal, filing date or status.

If you don’t already have an account, sign up for one now by clicking here. If you need assistance, our expert client service and sales representatives are only one phone call away.

Buying a Car with Bad Credit 4

We’re reviewing the four things that you need to provide to a dealer in order to get a car loan if you have bad credit.

4.  References – This typically should be a minimum of six people, with full names, addresses and phone numbers. They can be co-workers or friends, but some lenders prefer you to use relatives. The one rule is that they cannot live at the same address as you, and each must have a different address.

From Auto Credit Express

Millennials to become the most influential demographic

Millenials are the largest generation (75.4 million) & are poised to become the most influential car buying demographicCheck out this great article by DealerTrack

Ready or not, the reality is that Millennials are impacting every aspect of the auto industry, from staffing strategies and pay structures, to sales, marketing and even brand positioning. Millennials are even beginning to influence the type of vehicles manufactured and marketed   read more…

 

BEBdata Auto Lead Lists

BEBdata partners with the nation’s most robust data companies for our automotive leads lists. The databases hold over 150 million records of car, truck & SUV owners throughout the United States. Buy your next auto file from BEBdata. We specialize in bankruptcy data, bankruptcy leads, and more. We are data experts and can help you to identify, communicate and engage your prospects to become customers.

3rd Generation Ford Dealer

This is a fantastic tweet with a great video featuring a 3rd generation Ford Dealer (Abernethy Ford) in Cork, Ireland!  Check it out:

 

Pot Workers & Loan Denials

Check out this interesting read entitled Loan denials common for Oregon pot workers from McLatchydc.com, authored byThe Bulletin

Dealership turnover squeezing profits

NADA study spotlights struggles in recruitment and retention

The struggle among dealerships to attract and retain female employees mirrors a broader problem: the industry’s inability to keep new hires.

That inability, shown dramatically in the National Automobile Dealers Association’s 2016 Dealership Workforce Study, hurts profits, says an author of the study.  Read more here…

 

BEBdata Auto Lead Lists

BEBdata partners with the nation’s most robust data companies for our automotive leads lists. The databases hold over 150 million records of car, truck & SUV owners throughout the United States. Buy your next auto file from BEBdata. We specialize in bankruptcy data, bankruptcy leads, and more. We are data experts and can help you to identify, communicate and engage your prospects to become customers.