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Consider bankruptcy and Citibank Stole $14 Million from its Customers

Posted by James Breen at 30 August 2008 16:21

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Bank agrees to stop criminal 'sweeps, ' make refunds California Attorney General Edmund G. Brown Jr. today announced that he has reached a settlement with Citibank after a three-year investigation into the company's use of an criminal "account sweeping" agenda. Nationally, the troupe took more than $14 million from its customers, counting $1.6 million from California residents, through the use of a laptop train that wrongfully swept sure account balances from repute-license patron ..[next].

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August 30th, 2008 9:34 PM by tipster You may find yourself in such grave fiscal train that you truly feel there's no way out, quick of filing bankruptcy. There are clearly suitcases where filing bankruptcy is your utmost or only option. However, bankruptcy is a harsh setting which requires considerable explore and thought before you proceed. Recent changes to bankruptcy laws have made it more intricate for an.

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Bankruptcy laws give debtors a way to resolve debt by dividing their assets among their numerous creditors and in some gear will allow debtors to be freed of outstanding debts that cannot be rewarded, even after the schism of assets. For individuals who find themselves unable to pay their debts, bankruptcy can be a viable option. As a cheat, you are allowed to smooth for bankruptcy. There have been fresh changes to bankruptcy laws that may change your ability to discharge your debts lacking .. inclusive piece.

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People file for bankruptcy because they're in debt. The more debt there is, the more bankruptcies there are. Well, duh! It really is that simple. When compared to the level of borrowing, the rate of bankruptcy has remained fairly steady. In 1977, 74 bankruptcies were filed for every $100 million of consumer debt. In 1997, 73 bankruptcies were filed for every $100 million of consumer debt. Bankruptcy isn't the cause of debt but rather is the result. And it isn't the disease but rather is one of the cures. Restricting access to bankruptcy court won't solve the problem of debt any more than closing the hospitals will cure a plague.


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