Kathryn Davis

  • The Bankruptcy Process

    If you have more debt than you can juggle, it is always wise to seek the advice of a bankruptcy attorney. Bankruptcy may not always be the best course of action, but if it is, here is an overview of the process. Bankruptcy Process Overview Review Your Options Meet with an attorney to discuss what your options may be, whether it is to file bankruptcy or not and if so whether a C ...

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  • How Chapter 13 Can Help With Unpaid Property Taxes

    As most of us know, one of the joys of home ownership is that the homeowner has to pay property taxes. These taxes help fund things like schools and parks. The amount of tax owed is generally based on the assessed value of the home. Most mortgage contracts require you be current on your property taxes, and many times the mortgage lender will collect the property taxes through r ...

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  • FCC Cracks Down on Robo-Calls

    The Federal Communications Commission (FCC) has proposed an $82 million fine against a man who has allegedly made millions of automated sales calls. The FCC has accused Philip Roesel and Best Insurance Contracts dba Wilmington Insurance Quotes, of violating the Truth in Caller ID act. According to the FCC, Roesel and his company made 21 million automated calls, also known as ro ...

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  • Bridal Chain Alfred Angelo Files Bankruptcy

    As anyone who has planned a wedding knows, the wedding gown is one of the most important- and pricey- decisions the bride will make. Brides around the country are in a panic now that the bridal chain Alfred Angelo has filed for Chapter 7 bankruptcy. The company reportedly closed all 61 of its stores this past Thursday as part of its plan to file bankruptcy.

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  • Takata Files for Bankruptcy Amid the Largest Recall in US History

    Takata, the Japanese auto maker who has been embroiled in a deadly airbag scandal, filed for bankruptcy protection in the United States on Sunday. Takata’s airbags are the subject of the largest recall in U.S. history. The airbags have been blamed for at least 16 deaths, and Takata has been hit by more than a billion dollars in penalties and costs.

    Kathryn Davis/ Bond and Botes- 12 readers -
  • Puerto Rico Files for Bankruptcy Protection

    I have written before on Puerto Rico’s financial situation and the possibility of a bankruptcy filing. Now, the island has effectively filed for bankruptcy. Earlier this month Puerto Rico sought relief under Title III of a federal law called the Puerto Rico Oversight, Management, and Stability Act, or PROMESA.

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  • Medical Debt Collection Affects Millions of Americans

    Every day, people come to our offices seeking relief from debt collectors. Millions of Americans are contacted by debt collectors each year, many related to medical expenses. In fact, survey results from a January 2017 Consumer Financial Protection Bureau (CFPB) study show that more than 40 million Americans are contacted each year about medical related debt.

    Kathryn Davis/ Bond and Botes- 12 readers -
  • Student Loan Forgiveness Program May Not Be So Forgiving

    If you are part of a student loan forgiveness program that will forgive your students loans after work in public service, you should pay close attention to this emerging story. More than 550,000 borrowers have signed up for the program, but now some are wondering if the government will hold up its end of the bargain or if they will be left with a large amount of unexpected debt.

    Kathryn Davis/ Bond and Botes- 12 readers -
  • Spotlight: Volunteer Lawyers Program of Madison County

    There are many people in our communities who cannot afford legal representation. Here in Madison County, we are so fortunate to have the Madison County Volunteer Lawyers Program to meet the needs of that population. The MCVLP has a two-pronged mission: Promote equal justice through the delivery of pro bono legal services and Promote volunteerism among attorneys.

    Kathryn Davis/ Bond and Botes- 12 readers -
  • Payless Reportedly in Talks to Close 1000 Stores

    Payless Inc. is reportedly discussing a restructuring plan with its lenders. The restructuring plan would involve closings about 1000 of its stores. Currently, Payless operates more than 4400 stores around the country. Shoe Seller May Be Forced to File Bankruptcy According to sources familiar with Payless’ financial situation, the shoe seller might be forced to file bankruptcy ...

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  • Older Americans Increasingly Impacted by Student Loan Debt

    Last year, economists at the New York Federal Reserve released an analysis showing that older Americans were significantly more in debt than in previous years. While this might not be that surprising given the aging population in the United States, a source of the debt might be less obvious: student loan debt. The analysis compares average debt per U.S. resident by age in 2003 and in 2015.

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  • Rising Student Debt and Suggestions for Change

    According to “Student Debt and the Class of 2015’” the latest report from the Project on Student Debt, about seven in 10 (68%) college seniors who graduated from public and private nonprofit colleges in 2015 had student loan debt. The average graduate owed $30,100, which is up 4% from the 2014 report.

    Kathryn Davis/ Bond and Botes- 26 readers -
  • What to Expect After Filing a Chapter 7

    After sitting down with your bankruptcy attorney and discussing the pros and cons of filing either a Chapter 7 or Chapter 13, you have decided that it is in your best interest to file a Chapter 7 bankruptcy. You have given your attorneys all the information they need, and you have reviewed and signed your bankruptcy petition.

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  • Navy Federal Credit Union Used Improper Debt Collection Practices

    Navy Federal Credit Union is a Virginia based credit union that limits its membership to people who have been or are currently serving in the U.S. military, Department of Defense employees and contractors, and their immediate family members. It is currently the largest credit union in the United States. Navy Federal has recently been penalized for using improper debt collection practices.

    Kathryn Davis/ Bond and Botes- 21 readers -
  • ITT Technical Institute Closes its Doors

    ITT Technical Institute closed down in early September, leaving more than 35,000 students without a school, and leaving thousands of employees without a job. Following the closure, the company filed for Chapter 7 bankruptcy in Indiana. ITT Tech is the second major for-profit college that has filed for bankruptcy in the past two years. Corinthian College filed in May 2015.

    Kathryn Davis/ Bond and Botes- 17 readers -
  • Hanjin Shipping Co. Files for Chapter 15 Bankruptcy

    One of the world’s largest container shipping companies, Hanjin Shipping Co., has filed for bankruptcy. Hanjin is a South Korean company and filed for bankruptcy protection under Chapter 15 of the Bankruptcy Code. Chapter 15 Bankruptcy and Model Law Chapter 15 is a newer chapter of the Bankruptcy Code. It was added by the Bankruptcy Abuse Prevention and Protection Act of 2005.

    Kathryn Davis/ Bond and Botes- 17 readers -
  • Boston Grand Prix Files for Bankruptcy

    Boston Grand Prix Files for Bankruptcy Posted on Jul 26, 2016 By Kathryn Davis July 26, 2016 by Kathryn Davis The Grand Prix of Boston has filed for Chapter 7 bankruptcy. The Grand Prix was scheduled to debut as an IndyCar Series race on September 4, 2016 and was to run each year through 2020. The race would run along the South Boston Seaport, and the city of Boston and the ...

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