Ed Woods

  • Retailers Facing Tough Times

    CNN Money recently reported on the continuing challenges facing retail stores. According to the article, more than 300 retailers have filed for bankruptcy this year. This represents a 31% increase over last year. And while many of these bankruptcy filings are small local retailers, there are some big names on the list.

    Ed Woods/ Bond and Botes- 8 readers -
  • Job Markets Still Struggling In Nine States Post-Recession

    The Great Recession of a few years back might be fading in the memories of some; however, in nine states across the United States, the job markets have not fully recovered according to a recent AP report. According to the report, the job numbers and overall size of the economy are still below 2008 levels in the nine states.

    Ed Woods/ Bond and Botes- 9 readers -
  • Paycheck to Paycheck is No Way to Live

    According to a recent story in the New York Post, half of the working families in the United States are living pay check to pay check. Living this way may work for a while or even a long time; however, the problem it presents is the inability to effectively cope with an unexpected crisis. 50% of People Unprepared for a Financial Crisis According to the news article, fifty perce ...

    Ed Woods/ Bond and Botes- 10 readers -
  • Twenty Years And Counting!

    Normally, I blog about current events or about how we can help consumers can get real relief from financial pressures under the law. In today’s post, I digress to recognize one of our own. Recently, we celebrated the twenty year anniversary of our friend and trusted employee, Leann Wilkinson. Where has the time gone? Her official title is Office Manager.

    Ed Woods/ Bond and Botes- 11 readers -
  • Small Nebraska County In Big Financial Trouble

    The Miami Herald recently reported on an interesting story from the State of Nebraska. The story illustrates that even government entities such as counties and cities can find themselves in deep financial trouble. Indeed, Jefferson County, Alabama and Detroit, Michigan are recent examples of this phenomenon.

    Ed Woods/ Bond and Botes- 14 readers -
  • Former Teen Idol David Cassidy Proposes Bankruptcy Plan

    If you are old enough to have been watching TV in the early 70s, you probably remember watching The Partridge Family. For those of you who don’t know what I’m talking about, there’s always YouTube. The show featured actor and singer David Cassidy as teenage musician and lead family band member Keith Partridge. The series was quite popular during its four year run.

    Ed Woods/ Bond and Botes- 12 readers -
  • Health Care Costs Number One Cause of Bankruptcy for American Families

    The cost of health care is a major concern for nearly all Americans and there is no shortage of health care related news coverage recently. Understandably, there are lots of questions and forecasts about what might be about to happen. Will the Affordable Care Act a/k/a “Obamacare” be repealed? Will anything replace it? If so, what will replace it? How much will it cost taxpayer ...

    Ed Woods/ Bond and Botes- 23 readers -
  • Three Reverse Mortgage Firms Fined

    On Wednesday, USA Today reported that three reverse mortgage firms entered into consent agreements with the Consumer Financial Protection Bureau for using deceptive advertising. According to the USA Today report, the deceptive advertising consisted of claims by the firms that a consumer could not lose their home in connection with the advertised reverse mortgages.

    Ed Woods/ Bond and Botes- 19 readers -
  • Debt Collector Sentenced To Five Years In Prison

    Last week, Reuters reported that John Williams of Williams Scott & Associates LLC was convicted in federal court of conspiring to commit wire fraud. Mr. Williams was sentenced to five years in prison. He was also ordered to pay almost $4 million in restitution. Who is John Williams? I didn’t know either. But the point of this blog is to highlight what Mr. Williams reportedly did.

    Ed Woods/ Bond and Botes- 20 readers -
  • Oh No . . . Not Again!

    American Apparel is reportedly about to seek relief in the bankruptcy court . . . again. Just one year ago, the company filed its first bankruptcy case. In late 2014, the company ousted its founder and then CEO, Mr. Dov Charney. Litigation ensued and the company’s sales continued to decline until, in October 2015, the company filed its first bankruptcy.

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  • Is Sears About To File Bankruptcy?

    Yes, I am referring to that Sears – the giant retailer. According to an article this week in TheStreet, Sears reportedly has “significant default risk” within the next one to two years. This would likely lead to a bankruptcy filing under either Chapter 7 liquidation or Chapter 11 reorganization. A Chapter 7 filing would mean that Sears would liquidate its assets in order to pay ...

    Ed Woods/ Bond and Botes- 17 readers -
  • Are You The Victim of Credit Report Errors?

    I recently read an informative and well written article in The Washington Post by a staff reporter for National Public Radio (NPR). In the article, the reporter, Mr. Bobby Allyn, related a personal experience wherein he encountered difficulties renting an apartment due to information contained in his credit report by credit reporting giant TransUnion. Mistaken Identity In the article, Mr.

    Ed Woods/ Bond and Botes- 12 readers -
  • How Does Chapter 13 Bankruptcy Work?

    How Does Chapter 13 Bankruptcy Work? Posted on Aug 26, 2016 By Ed Woods August 26, 2016 by Ed Woods One very powerful remedy that financially strapped consumers have is a discharge pursuant to Chapter 13 of the federal Bankruptcy Code. Chapter 13 bankruptcy is so named because it is Chapter 13 of Title 11 of the United States Code.

    Ed Woods/ Bond and Botes- 39 readers -
  • CFPB Takes New Steps To Protect Mortgage Borrowers

    CFPB Takes New Steps To Protect Mortgage Borrowers Posted on Aug 05, 2016 By Ed Woods August 5, 2016 by Ed Woods Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a final rule designed to help struggling mortgage borrowers. The new rule amends the 2013 Mortgage Rules under the federal Real Estate Settlement Procedures Act and the federal Truth in Lending Act.

    Ed Woods/ Bond and Botes- 19 readers -
  • What To Do RIGHT NOW If You Are Being Harassed By Debt Collection Calls

    Back in March, I wrote about the immediate steps you should take if you are facing overwhelming debt. Today, let’s look at some immediate steps to take if you are receiving harassing debt collection phone calls. When you are struggling with money problems, the last thing you want to deal with is harassing phone calls by debt collectors.

    Ed Woods/ Bond and Botes- 19 readers -
  • Chief US Bankruptcy Judge Speaks About Bankruptcy Misconceptions

    Chief US Bankruptcy Judge Speaks About Bankruptcy Misconceptions Posted on Jun 24, 2016 By Ed Woods June 24, 2016 by Ed Woods On this past Tuesday, the Honorable Jason Woodard spoke in Columbus, Mississippi about what bankruptcy is and why it is necessary for some people in Mississippi. Judge Woodard is the Chief U. S. Bankruptcy Judge for the Northern District of Mississippi.

    Ed Woods/ Bond and Botes- 23 readers -
  • CFPB Proposes New Rule on Small Dollar Lending

    In my last post, I wrote about Google’s change in its ad policy concerning payday lenders. As examined in that post, Google noted the harm these types of loans often cause for consumers. Google is not alone in recognizing the harmful effects of these loans. The U.S. Consumer Financial Protection Bureau (CFPB) has also been looking into the matter.

    Ed Woods/ Bond and Botes- 24 readers -
  • Google Changes Ad Policy Regarding Payday Lenders

    On Wednesday, Google posted a blog on its Public Policy Blog entitled “An Update to Our AdWords Policy on Lending Products.” According to that post and effective July 13, 2016, Google will ban ads for payday loans and some related products from their ad systems. Google defines these loans as those where payment is due within sixty (60) days of issue.

    Ed Woods/ Bond and Botes- 28 readers -
  • Debt Settlement Company Morgan Drexen Ordered to Pay Millions

    Debt Settlement Company Morgan Drexen Ordered to Pay Millions Posted on Apr 01, 2016 By Ed Woods April 1, 2016 by Ed Woods On March 16, 2016, the Costa Mesa, California debt settlement company of Morgan Drexen was ordered by a federal court to pay $132.8 million in restitution to those who enrolled in the company’s debt settlement program between October 27, 2010 and June 18, 2015.

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