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f1c682f8b542ed68fd8e6d2a81821b92 tarted sinking in the choppy water.One of the survivors, Sergei Grauman, said on Russian state television that the platform's portholes were smashed in a second and the crew had struggled to fix them."Everyone rushed to the deck," he told the First Channel station. "It all felt like a movie."An official at the rig's owner Arktikmorneftegazrazvedka, who asked not to be named because the offshore oil exploration firm is not authorized to comment on the rescue operation, told The Associated Press that rescue vessels have spotted four rafts with people aboard, but it was not clear if they were alive or not.The Emergencies Ministry and military officials would not confirm that rafts were found, but said there are four vessels, one helicopter and one airplane still searching for survivors. Helicopter shots from the area on NTV television showed nothing floating on the partly iced-over sea.Russia is the world's largest natural gas exporter and second-largest oil export Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com

The Bankruptcy Courts in Miami has recently started a new program to help people get a mortgage modification in your to help them save their home from foreclosure with the assistance of the bankruptcy court as part of their  chapter 13 bankruptcy case.  Most of the time, the homeowner seeks to modify their first mortgage and is able to wipe out their second mortgage as the second mortgage
is "underwater"

The program is called "Mortgage Modification Mediation" (MMM). It is available for homeowners and certain investment property owners who are seeking a modification of their mortgage and may be facing foreclosure of the mortgages on their property.  As part of the MMM program, the Bankruptcy Court appoints a mediator to work with the debtor and their bankruptcy attorney in reaching an agreement.  MMM has been successful in about 80% of the cases in other parts of Florida that previously instituted the program. One advantage of this program is that it provides for better communication with the mortgage lender in the process of negotiating a mortgage modification. A mediator is appointed by the Bankruptcy Court to help the parties negotiate an agreement.
As part of this process, an order is issued by the Bankruptcy Court requiring your mortgage lender to register with the internet portal and negotiate with you for a mortgage modification. The documents that are needed for the mortgage company to consider the mortgage for a modification are submitted on an internet portal for better communications.   All communications between the parties is done through the MMM Portal. After the order is entered the homeowner, mortgage lender and mediator communicate and meet to mediate a modification. In the meeting, all parties must be really and able to settle all matters.Jordan E. Bublick - Miami Bankruptcy Lawyer - Kendall & Aventura Offices - (305) 891-4055 - www.bublicklaw.com

October 29, 2015, the Consumer Financial Protection Bureau (CFPB) took action against General Information Services (GIS) and its affiliate, e-Background-checks.com, Inc. (BGC), two of the largest employment background screening report providers, for failing take basic steps to assure the information reported about job applicants was accurate and including impermissible information in the reports. The serious inaccuracies reported by GIS and BGC, potentially affected consumers’ eligibility for employment and caused harm to their reputation.
Requirements include: revising their compliance procedures, developing an audit program and retaining an independent consultant.  In addition, GIS and BGC shall also:

• Provide $10.5 million in relief to harmed consumers.
• Pay a civil monetary penalty of $2.5 million.

General Information Services and its affiliate failed to take basic steps to provide accurate background screening reports to employers about job applicants,” said CFPB Director Richard Cordray. “Today, we are holding two of the largest companies in this market accountable for cleaning up the quality of their reports.

GIS and its affiliate, BGC, collectively generate and sell more than 10 million consumer reports about job applicants each year to prospective employers. These consumer reports include criminal history information and civil records, among other types of data. Employers use the consumer reports to determine hiring eligibility of applicants and make other types of employment decisions.
Click here for a copy of the consent order.

The post Turned Down for a Job due to “Bad Credit”? GIS & BGC to Pay $13M for Inaccurate Reporting appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.

Judge Gary Feinerman of U.S. District Court for the Northern District of Illinois on Wednesday ordered Corinthian Colleges to pay $531 million to former students of Everest, WyoTech and Heald for deceiving students about potential career prospects.
The lawsuit, filed by the Consumer Financial Protection Bureau, accused the company of “fudging the numbers” and hiring its own graduates to boost job-placement rates and mislead students.
The company did not fight the case and will not pay the judgment because it was dissolved in a bankruptcy earlier this year. The ruling, however, will likely be used by former Corinthian students seeking to use Defense to Repayment as a means of getting their federal student loans forgiven.
Defense to Repayment is a little-used means of getting federal student loans forgiven. In order to get the loans forgiven, the borrower must show that they were a victim of fraud or another violation of state law at the school regardless of whether the school is open or closed.
This stands in contrast to the Closed School Discharge, which allows for a 100% discharge of Direct Loans, Federal Family Education Loan (FFEL) Program loans, or Federal Perkins Loans under either of these circumstances:

• a school closes while the borrower is enrolled, and the borrower does not complete your program because of the closure. If the borrower was on an approved leave of absence, he or she is considered to have been enrolled at the school;
• a school closes within 120 days after the borrower withdrew.

Neither Defense to Repayment nor Closed School Discharge are applicable to private student loans.
According to a Wall Street Journal report on the ruling:

Education Department officials said in June that legal rulings such as Wednesday’s would be a key piece of evidence working in the borrowers’ favor. “Certainly judgments in state court would be pretty critical to us,” Education Under Secretary Ted Mitchell said at the time.
David Halperin, a lawyer who advocates for changes to the for-profit college sector, said Wednesday’s ruling marked “a finding that Corinthian engaged in deception” that would pave the way for loan forgiveness. “That is the kind of finding that the Department of Education says it’s looking for in order to forgive debt by a large group of students.”
CFPB Director Richard Cordray said: “We all have much more work to do before current and past students who were hurt by Corinthian’s illegal practices can be made whole. We remain deeply concerned about risks facing student borrowers in the for-profit space and will continue to be vigilant in rooting out harmful practices.

Without Defense to Repayment, thousands of former Corinthian students who graduated years before the school’s collapse would remain liable for federal student debt incurred in connection with a certificate that is now largely useless. Officials estimate that 350,000 students owing roughly $3.5 billion could eventually have their federal student loans forgiven.
The post Corinthian Found Guilty of Deceiving Students, Paving the Way for Loan Forgiveness appeared first on Shaev & Fleischman LLP.