The Missouri Bar

Bankruptcy Cases on the Rise

Already this year, Missouri federal bankruptcy courts have 7,000 cases to decide - an astronomical leap from just 1,400 filed last year. That's according to a new story from KCTV-5. Most are related to medical bills. (Read the full story)

What do you do if you have medical bills you can't pay for? Attorney Larry Ferguson discusses accuracy of medical bills and how you can negotiate a reasonable payment if you don't have insurance in this Law in Your Life interview.

Host Angela Wilson also finds out about bankruptcy and how bankruptcy can impact foreclosure in these Law in Your Life podcasts.

Feds Take Over Fannie, Freddie

On Sunday, the federal government announced that it would take over Fannie Mae and Freddie Mac, two major players in the housing market. The companies are on the verge of going under with the collapse of the housing market, where Fannie and Freddie are leading lenders.

According to USAToday:

Fannie and Freddie will be placed in a government conservatorship that will assume the powers of their boards and management, said James Lockhart, head of the Federal Housing Finance Agency, which regulates Fannie and Freddie.

The Fannie and Freddie shake up is part of a housing market filled with foreclosed homes and some families who now face bankruptcy as a result. The Law in Your Life has several podcasts to help understand the situation.

Bankruptcy

Conservatorship

Foreclosure

Foreclosure and Bankruptcy

Law in Your Life #47: College Student Debt

Credit card companies can't wait for a new set of students to enter Missouri colleges this fall. Sometimes using deceptive tactics like T-shirt giveaways and free food, companies are laying in wait to sign up students for credit. But many times, these students aren't equipped to handle it, mentally and financially. What should students - and parents - know before they hit the quad and find tantalizing credit card offers? Attorney Debra Lumpkins shares with host Angela Wilson.

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Download audio to your computer. (MP3, approx 9.5 meg)
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Download audio to your computer. (MP3, approx 9.5 meg)
Note: in some browsers, the file may not begin playing until full file is downloaded.

Post-Dispatch Tackles Missouri Foreclosures

The St. Louis Post-Dispatch takes readers through the foreclosure process from the perspective of bankers, lawyers, auctioneers and investors in this article.

The Law in Your Life offers several podcasts on this topic, including Friday's cast on how bankruptcy can impact foreclosure proceedings. You can also find out more in The Missouri Bar's Consumers and the Law Resource Guide.

Law in Your Life #45: Foreclosures and Bankruptcy

This week, lawmakers approved a plan to bail out lending giants Fannie Mae and Freddie Mac, two top companies in danger of losing billions as a result of the subprime mortgage mess. The U.S. government will give the nation's two top home lenders access to funds to make a turn around.  The plan could save the homes of nearly 400,000 Americans. (Read more)

This news means everything to the few whose homes will be saved, but the bailout won't save everyone from foreclosure. Some may consider bankruptcy to stall the process, or to start over with a clean credit record. In a special podcast this week, host Angela Wilson delves into the process of foreclosure and what impact bankruptcy has on the process with St. Louis attorney Ed Karfeld. (Internet Explorer users click twice.)

Download audio to your computer. (MP3, approx 14.4 meg)
Note: in some browsers, the file may not begin playing until full file is downloaded.

Download audio to your computer. (MP3, approx 14.4 meg)
Note: in some browsers, the file may not begin playing until full file is downloaded.

Bankruptcy: How Could It Impact Your Small Business Loan Application?

Business Week columnist Karen E. Klein tells a reader that bankruptcy could impact that person's need for a small business loan. The reader took out the loan to help a son, who had medical bills after an accident. (Read more)

The reader's situation embodies a few Law in Your Life podcasts. First, attorney Denise Henning talks about what you need to know if you are injured in an accident. If you are facing bankruptcy, attorney Janice Harder offers up tips you should know about the process. More information about bankruptcy is available in  The Missouri Bar's Business Law Resource Guide.