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i will keep this simple. when this book was out of print i chanced upon a copy in the library. I was up against the wall and this book literally saved my company which led to growth and eventually a large buyout.
I used the realworld examples to form intuitive solutions to fix creditor problems and turnaround my company. www.saynotobankruptcy.com
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Inside the Minds provides readers with proven business intelligence from C-Level executives (Chairman, CEO, CFO, CMO, Partner) from the world's most respected companies nationwide, rather than third-party accounts from unknown authors and analysts. Each chapter is comparable to an essay/thought leadership piece and is a future-oriented look at where an industry, profession, or topic is headed and the most important issues for the future. Through an exhaustive selection process, each author was hand-picked by the Inside the Minds editorial board to author a chapter for this book.
Chapters Include:
1. Peter W. Ito, Partner, Gordon & Rees LLP - "Fallout and Survival in the Subprime Crisis"
2. Seth E. Pierce and Andrew Katz, Partners, Mitchell Silberberg & Knupp LLP - "Trading One Crisis for Another: How Certain Proposed "Reforms" Could Turn the Subprime Crisis into a Constituitional One"
3. Sharon L. Nelles, Partner, Sullivan & Cromwell LLP - "Understanding Subprime Lending, Securitization, and the Causes of the Subprime Meltdown"
4. Van C. Durrer II, Partner, Skadden, Arps, Slate, Meagher & Flom LLP - "From Boom to BOOM! : The Explosive Growth of the Subprime Crisis in 2007"
5. Howard Mulligan, Partner, McDermott Will & Emery LLP - "The Road That Has Lead Us Here"
6. John F. McCarrick, Partner, Edwards Angell Palmer & Dodge LLP - "Insurance Coverage and the Subprime Mess: Who Pays the Cleanup Costs?"
7. Peter D. Hawkes, Attorney, Lane Powell PC - "Legal Fallout of the Subprime Mortgage Crisis"
Appendices include:
Appendix A: Congressional Bills Proposing Changes to Chapter 13 to Allow Greater Modification of Home Mortgages
Appendix B: Congressional Bills Adopting Other Approaches for Addressing the Subprime Crisis
Appendix C: Using an E-Room to Satisfy Insurer Cooperation Obligations
Appendix D: Sample Interim Non-Waiver and Defense Funding Agreement
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Have you ever been named in a civil action by a credit card company? It is not pleasant, and what will happen next even less encouraging.
Here is a typical sequence of events.
Section One: overuse of a credit card, you miss some payments, you pay $ 39 per month for late payment, $ 39 per month for over limit, your missiles rate of 6% to 29.9%, the original debt of $ 10,000 growing rapidly.
Section Two: Do you miss 6 consecutivePayments while you are being harassed via phone and e-mail, the credit card company offers you a solution that will be discounted, the original, but would generally rather, is larger than the original $ 10,000 even with the rebate, you can not pay and ignore or reject the offer, the credit card company will license or sell your account, a credit collection law firm, a "credit lawyer.
Section three: you are being harassed by phone for severalMonths, you are offered a settlement, which usually only on the original loan amount, $ 10,000 in this example, you can not pay, allowing you to ignore or reject.
Section Four: The Attorney loan file a civil action for the full amount now, perhaps, $ 15000; you get on the state of civil and have 30 days time to respond or face a summary ruling in favor of the plaintiff. They panic and call Aunt Mabel and borrow $ 7,500 You are in the credit and beg for a lawyerSettlement. They agree and preparation of legal formalities. Visit their offices to check them certified and get the release.
Section five: You trade the $ 7500 for a receipt and a copy of "Without Prejudice Dismissal", which promises the creditworthiness of attorney with the County Clerk file.
You breathe a sigh of relief, that is over. Somehow will repay Aunt Mabel.
It is not over yet.
Section six: 5 years later you sell your house.On completion of the transaction, please check your billing. It is $ 7500 less than expected. You ask why. These funds were used to pay the $ 7500 lien on your property from 5 years ago. They are excited. As they talk, she paid the debt.
I am not a lawyer, but I have serious legal advice to anyone who tries to settle a debt - always require a statement that dismissed all claims of creditors. If a civil action was filed, then a "dismissal withPrejudice ".
Dismissal without prejudice is an action by the plaintiff in a case without the right to the case at a later date refiler dismissed. In other words, I want a 'through' please. In the example of a negotiated settlement credit card debt, leaves it to the defendant - you - open to a civil action for the balance at the whim of who owns the debt. The remaining debt could be sold to anyone.
Be careful out there.
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Upon ordering, Reed Seminars will send you a CD with the seminar on it for viewing on your computer or mobile media device (iPod/iPhone, Blackberry). The CD will include the PowerPoint presentation, audio narration and jpeg images of the slides (for watching on your mobile media device).
The seminar focuses on:
-Everything you need to know in 60 minutes about the credit market crisis, how it is impacting clients of real estate lawyers, and proactive strategies you can take on behalf of your clients
-The 10 questions being asked the most by real estate lawyers and their clients on the impact of the credit market crisis and how they should be preparing for a long-term credit crisis
-Understanding and explaining to clients new terms and provisions being required to access capital
-Best practices for keeping up to date with the latest credit market developments so you can be in-the-know on the latest trends and keep your clients informed
-Case studies of what real estate lawyers and their clients are doing if they are having trouble raising capital, back-up plans they are putting in place proactively, and how they are planning for multiple what-if scenarios
Praise for Reed Seminars:
A tremendous time saver for the busy attorney... Michael Goshko, Burns & Levinson
Thorough, informative and interesting...an efficient, effective means of gaining in depth insight.... - Greg Nowak, Partner, Pepper Hamilton
...an invaluable provider of this important information. Ira Bogner, Partner, Proskauer Rose
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