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By DAVID CAY JOHNSTON
If you owe back taxes to the federal government, the next call asking you to
pay may come not from an Internal Revenue Service officer, but from a
private debt collector.
Within two weeks, the I.R.S. will turn over data on 12,500 taxpayers - each
of whom owes $25,000 or less in back taxes - to three collection agencies.
Larger debtors will continue to be pursued by I.R.S. officers.
The move, an ...   more »

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By Kenneth R. Harney
Special to the Mercury News

WASHINGTON - Call it the reset jitters.

Lenders, mortgage investors and financial regulators across the country are
concerned about the ability of millions of homeowners to handle the
potentially painful payment spikes coming due on loans they took out during
the height of the housing boom.

Though estimates vary, some industry experts say that at least a
half-trillion dollars worth of loans with reduced initial payment terms ...   more »

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Pamela Yip
11:26 PM CDT on Sunday, August 6, 2006
Consumer attorneys have scored a significant victory against the new
bankruptcy law.
A federal judge in Dallas ruled recently that a provision of the law is
unconstitutional because it prevents lawyers from giving their best advice
to clients in financial distress.
Critics of the Bankruptcy Abuse Prevention and Consumer Protection Act say
the law, which went into effect last fall, caters to the credit card
industry ...   more »

Blog sponsored by Bankrupt-Law.com


Friday August 4, 6:00 am ET

Brigitte Yuille

Have an unpaid debt? Hospitals, retail stores and financial institutions
want to talk to you about it on your cell phone and are trying to eliminate
the legal obstacles that keep them from doing so.

A trade organization made up of credit grantors and debt collectors is
asking the feds to agree to allow collectors to reach you on your wireless
phone using an automatic telephone dialing system.
...   more »