May 20, 2014

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Mortgage, Home-Equity Woes Linger – Number of ‘Underwater’ Borrowers Is Down but Remains Elevated, Zillow Finds

The Transformation of LGBT Law in the Workplace – To fully appreciate the recent shift in workplace culture for lesbian, gay, bisexual and transgender employees, consider this: In 2008, fewer than 10 companies took a public stand against a California ballot initiative to ban same-sex marriage. Just five years later, in 2013, 278 corporations— including some of the nation’s largest—threw their support (and for many, their money) behind same-sex marriage, submitting a brief to the U.S. Supreme Court asking it to overturn parts of the Defense of Marriage Act in Windsor v. United States, 133 S. Ct. 2675 (2013).

Housing debt still traps 10 million Americans – Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts — an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession.

May 16, 2014

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Bankruptcy Mediation Is On The Rise, Panelists Say – Mediation in bankruptcy cases is on the rise as debtors look to avoid prolonged, expensive litigation, but judges and attorneys need to be careful in assessing what situations are best suited for bringing in a mediator, experts said on Thursday.

How To Protect Yourself In A Divorce Using A Domestic Asset Protection Trust – There is a word in a relationship that sparks more fear than even the dreaded words, “We need to talk.” That word is prenup. Successful and confident grown men and women shutter at having to breach this subject with their soon-to-be spouse. It’s a painful conversation that all want to avoid – and many do after they decide it would be too uncomfortable and too awkward. The result? They leave their assets unprotected and subject to division in a divorce. But even those who had the prenup conversation and subsequently got divorced will tell you, a prenup is not bullet-proof and can – and usually are – contested. Even if the prenup is ultimately deemed legitimate, it can still cost you thousands (if not hundreds of thousands) in legal fees proving this.

Quarterly Foreclosure Rate is Near Pre-Crisis Levels – The U.S. housing market’s recovery is still a work in progress, but the problem that got us here in the first place—waves of foreclosures that decimated prices and neighborhoods—is steadily fading into the rearview mirror.

Mediation is the Better Alternative in Creditors’ Rights Disputes

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Handshake of business partners

In a climate of increasing regulation for creditors and collections companies, it seems that the law is on the side of the debtor rather than the creditor.  Then there are consumers filing bankruptcy and finding ways to skip out entirely on their debts, despite holding on to many of the possessions that they borrowed for in the first place.

Even in this climate that is pro-debtor, creditors’ rights mediation can be a successful, inexpensive alternative to taking a debtor to court.  Creditors such as banks, finance companies, equipment leasing companies and others can benefit from this form of alternative dispute resolution without dealing with expensive litigation and collections strategies that have been ineffective.  The best part is mediation is a low-cost alternative, so creditors will save money in the process by avoiding extensive attorney fees and court fees.

Creditors’ rights mediation can be used in situations such as home foreclosures and bankruptcy, or as a method of collecting on an unpaid debt, and can assist creditors in finding solutions to unpaid debts that have threatened their company’s financial stability.  In a creditors’ rights mediation session, the disputants are able to discuss the debt that is owed in an informal environment.  A qualified creditors’ rights mediator will facilitate the discussion and assist both sides in reaching a mutually beneficial agreement.

The right creditors’ rights mediator will know the law well enough to provide suggestions regarding what the likely outcome of the dispute would be if it were litigated.  This is often enough to convince debtors that they should work out a repayment plan that they can afford and that will pay back the debt they owe.  After all—no one wants to go to court!  For this reason, finding a way to resolve the issue without litigation and through mediation is the obvious better path in many creditors’ rights disputes.

Common Claims Involving Product Liability and How Mediation Can Help Resolve Them

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Fatal ErrorWhen a product is defective or potentially hazardous to the consumer who purchased it, product liability mediation can be an effective way to resolve the problem.  Product liability mediation is a form of alternative dispute resolution that avoids going to court and dealing with extensive attorney fees.  Since being injured by a defective product can entitle the consumer to monetary damages, product liability mediation is often a preferred way to handle the dispute and receive compensation without dealing with the expense (both in time and money) of litigation.

In product liability mediation and cases involving product liability claims, most fall under one or several of the following categories:

A claim involving a design defect.  When a product breaks or damages more easily than it should, the problem could be related to a design defect.  These types of claims are especially successful when brought to mediation, particularly if the product’s design defect put the consumer at risk for being seriously hurt.

A claim involving a manufacturing defect.  If a product is made and distributed with known defects, the manufacturer could be responsible.  Manufacturers should test their products thoroughly before distributing them; otherwise, consumers could be at risk when using the defective products.

A claim involving an inadequate warning / no warning label.  If a product is potentially harmful, there should be a label on it warning consumers about the harm that could result if the product is used incorrectly.  Without this label, a manufacturer could be held liable for any injury that occurs when or if the consumer uses the product incorrectly and is injured as a result.

For either one of these claims, product liability mediation is a quick and easy method to reach a resolution and seek monetary damages for injuries that are the direct result of a manufacturer’s carelessness or lack of foresight.