Poll Shows Obama Leads With Voters In Financial Trouble

October 7, 2008

A presidential poll conducted by BankruptcyHome.com shows that Democratic presidential candidate Senator Barak Obama leads among likely voters who visited the Web site that provides information on bankruptcy and debt consolidation.

Senator Obama lead his Republican rival Senator John McCain on every issue polled on the site except for one. The only thing that respondents choose Senator McCain as was the more experienced candidate.

The poll shows that persons seeking information on Chapter 7 and Chapter 13 personal bankruptcy favor the Democratic candidate over the Republican for the nations top office. It matches recent trends in national polls as Senator Obama gains ground on his opponent since trouble in the credit markets have ground the nation’s economy to a near halt.

It asked which of the major party candidates the respondent felt would better handle issues from the economy and health care to the war on terror and immigration.

Full results of the poll are also available on the BankruptcyHome.com Web site.

Trustees Settle With Capital One

October 3, 2008

A settlement was reached between the U.S. Trustee Program, an arm of the Justice Department that monitors bankruptcy courts, and Capital One Financial Corporation over allegations that the credit-card issuer filed over 5,000 claims on credit-card debts that it filed that the company was not entitled to and received $340,000 from debtors that it should not have.

Under the settlement, Capital One agreed to hire an independent auditor to examine 650,000 customer accounts, dating back to 2005, to ensure that the company did not improperly collect debts that had already been discharged in prior bankruptcy cases.

The settlement marks a victory for the U.S. Trustee Program that stepped up enforcement efforts in recent years after being criticized for not challenging creditor behavior. Consumer advocates, law professors and judges had complained that the agency was not adequately protecting debtors from overzealous creditors.

That has been a hot topic in recent months as more and more homeowners turn to bankruptcy in an effort to save their homes from foreclosure as the effects of the nationwide economic crisis hit home.

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