Lax online shopping security leaves consumers open to fraud
Posted on December 3rd, 2011
Online shoppers are failing to check the veracity of sites they purchase goods from leaving them open to possible fraud, according to a survey from Callcredit.
A poll carried out by YouGov on behalf of the credit bureau found that nearly 70% of consumers do not check websites for contact details. Not making sure the website you are buying from is legitimate can result in your card details falling into the hands of fraudsters and identity thieves.
Nearly half of those questioned who said they planned to shop online this Christmas do not check the websites they buy from are secure and encrypted.
Tags: Fraud
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Arizona Supreme Court Rules Promissory Note Sufficient for Notice of Trustee’s Sale – Vasquez v. Saxon Mortgage
Posted on November 30th, 2011
Our Chino foreclosure defense attorneys were interested to see a rare state Supreme Court case involving a bankruptcy. In the Arizona Supreme Court’s Vazquez v. Saxon Mortgage Inc., the Arizona bankruptcy court certified the following question to the high court: Does Arizona law require an assignee of a mortgage to record the assignment before filing a notice of trustee’s sale, when the assignee holds a promissory note payable to the bearer? In a decision with a long list of amici curiae, the high court ultimately said no. That situation arose when Julia Vazquez challenged a foreclosure against her by Tiffany and Bosco, an assignee of an assignee of her original lender. The assignment was not recorded in at least one step in the chain of title, but the high court declined to stop the sale because [WHO] owned a promissory note payable to “bearer.”
Vasquez refinanced in 2005, executing a promissory note in favor of Saxon Mortgage and a deed of trust with Saxon as beneficiary and title company Ticor Title as trustee.
Tags: Arizona Supreme Court, Mortgage, Saxon Mortgage, Supreme Court
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Bankruptcy Reaffirmation Agreements: What You Should Know
Posted on November 28th, 2011
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When a Chapter 7 bankruptcy case is pending, a reaffirmation agreement can be drawn up and entered into that stops the particular debt it applies to from being discharged or replaces it with a new agreement. In simpler terms, the debtor enters into a contract with an obligation to repay that debt after the bankruptcy case is completed. The debtor forfeits bankruptcy protection in exchange for the creditor promising not to repossess the property.
Reaffirmation isn’t always the best idea and should be entered into with a firm understanding of what is expected of you as well as the creditors options if you do not meet your obligations. Reaffirmation agreements only apply to secured debt because such agreements allows the debtor to retain the collateral and preserves the right of the creditor to enforce the debt according to contractual or modified terms.
If a debtor defaults on a secured obligation, the debtor can view that as a default. Many contracts have acceleration clauses where the entire amount can be considered due upon default. If you are unable to pay the creditor may try to repossess the collateral (i.e. your
Tags: Bankruptcy
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Quality free advice on your pension
Posted on November 24th, 2011
This small, under-appreciated voluntary organisation can offer great advice on your pension planning and complaints.
During an interview with pensions minister Steve Webb, Ros Altmann, currently director of Saga, recommended the free, independent Pensions Advisory Service, saying “They do a fantastic job”.
Altmann has been an excellent and outspoken campaigner on pensions for a long time and she has a shrewd understanding about how they work, and in particular how government tinkering affects them. She is very definitely on the people’s side, so, when she recommends something, it’s worth looking into.
Which is what I did.
The Pensions Advisory Service can’t give personalised, tailored advice. By a technical definition, then, it doesn’t give “advice” as far as a financial advisor would describe it. However
Tags: Pension
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Why Use commercial Credit Reports?
Posted on November 24th, 2011
Due to the growth and expansion of global marketplace, companies are more and more depending on doing business with businesses on other sides of the globe. Often a dealer of machine tools like for example in U.S. will sell accounts in China. Conversely, a company in Ireland whose business is manufacturing finished woolens might prefer to farm out its customer service department to India. Or let’s say an aerospace company situated in France might get the spare parts from South Korea.
The entire globe is a steady flow of goods and services these days that requires be generating, ordering and compensating for. In nowadays financial system, this is frequently done through credit. Consecutively to maintain this system operation efficiently it is vital that businesses must depend on commercial credit reports. T Read full post…
Liquidating Trust in Advanta Corp. Bankruptcy Files Preference Actions
Posted on November 22nd, 2011
Introduction
Earlier this month, the Liquidating Trust in the Advanta Corp. bankruptcy proceeding began filing preference complaints in the Delaware Bankruptcy Court. Advanta and certain affiliates (“Advanta”) filed for bankruptcy in Delaware in November of 2009. As stated in the Liquidating Trust’s complaints, Advanta was at one time one of the largest issuers of “business purpose credit cards” in the United States.
Background
Advanta started in 1974 as “Teachers Service Organization, Inc..” In the 1980s, Teacher Service Organization became one of the first companies to securitize credit card and mortgage receivables. In 1988, the company changed its name to Advanta. Starting in the 1990s, Advanta began issuing credit cards targeting small businesses. In 2001, Advanta made small business credit cards its primary focus. See Advanta’s Declaration in Support of Chapter 11 Petitions and First-Day Motions (the “Declaration” or “Decl.”), filed with the Delaware Bankruptcy Court on November 8, 2009.
Advanta’s Business Operations
At the time the company filed for bankruptcy, Advanta was the direct parent of Advanta Bank Corp. (“ABC”).
Tags: Advanta Corp, Liquidating Trust, Preference
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