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During these tough economic times it is not uncommon for debt collection scam artists to hit the phones and attempt to collect money on expired or non existent debts. The latest debt collection scam seems to be spreading across the US referring to Hollywood Video, which filed for Chapter 11 bankruptcy protection in 2010. The debt collection scam begins with a phone call from a collection agency, telling the consumer that they have a unpaid debt in regards to their previous account with Hollywood Video.

More often than not the consumer will be persuaded to pay the bill at a “reduced” rate in order to avoid the debt going on their credit report. Thi

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Introduction

On February 1, 2011, AES Thames, LLC (“AES” or “Debtor”) filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to the Declaration of AES’s President in Support of First Day Motions (the “Declaration”), AES owns and operates a coal-fired power plant in Montville, Connecticut.  This post will look briefly at AES’s business, why the company filed for bankruptcy and what AES hopes to accomplish while in bankruptcy.

The Company’s Operations

AES is a subsidiary of The AES Corporation (“AES Corporation”).  As parent company to the Debtor, AES Corporation generates and sells electricity in twenty-nine countries.  Declaration at 3.  AES Corporation delivers electricity to over 11 million people worldwide, whereas it’s debtor-subsidiary, AES, is capable of generating electricity for 100,000 homes.  As parent, AES Corporation produces energy from various fuel sources, including coal, gas, fuel oil and certain renewable sources, whereas the Debtor relies on coal for energy production   Declaration at *3-4. 

Events Leading to Bankruptcy

In addition to providing electricity, AES provides steam to a paperboard plant owned by Smurfit Stone-Container Corporation (“Smurfit Stone”).  AES contends that its bankruptcy is due, in part, to the “uneconomic and onerous provisions” of its Steam Sale Agreement with Smurfit Stone.  Under the Public Utility Regulatory Policy Act (“PURPA”), Debtor is required to sell steam as a condition to selling electricity.  Although the production of steam represents only a fraction of the Debtor’s overall production, the requirements under PURPA have resulted in the company selling steam at a significant loss.  Declaration at *8.  The company also attributes its bankruptcy filing to the increased cost of energy production.  Declaration at *7.

Objectives in Bankruptcy

AES hopes, while in bankruptcy, to receive a “breathing spell from prepetition litigation.”  Declaration at *9.  Earlier this year, Smurfit Stone commenced a civil action in Connecticut seeking injunctive relief that would require AES to continue providing steam to Smurfit Stone, despite Debtor’s contentions that it provides steam at a significant loss.  Declaration at *9.  While in bankruptcy, the Debtor states that it is considering all options, including rejection of its agreement to sell steam to Smurfit-Stone.

This bankruptcy proceeding is before the Honorable Kevin J. Carey, Chief Judge of the Delaware Bankruptcy C

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Introduction

On January 19, 2011, Orchard Brands, also known as “Appleseed’s Intermediate Holdings,” filed petitions for bankruptcy in the United States Bankruptcy Court for the District Delaware.  According to the Declaration of T.

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If you need to purchase a car at this moment, don’t let bad credit rob you of a good deal.  Even if you have less than perfect credit score, you can still negotiate for a better deal.  In this article, let’s talk about the preparations that you can do to make the most out of a bad credit car loan.

Check your personal credit report. Order a copy of your personal credit report from the three major credit bureaus. This

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The time has come when many people are facing insurmountable debt. This can cause you to feel completely alone and as if there is no way out. Debt help lawyers can give you the tools you need to finally take control of this debt and begin the process of getting out of debt and staying out of debt. Debt can happen so fast, you may not know exactly how much debt you have accumulated, with debt help lawyers you will finally have these answers and this is the first step in getting it under control. Many people simply want to bury their head in the sand, but as time goes by more collectors will begin to call your home and your work and wreak havoc in your life. Read more…

Is your phone ringing off the hook for someone you do not know? If a collection agency has your telephone number in their records for debt belonging to someone else, you can become a target for endless harassment. In most cases, it does not matter if you tell a debt collector repeatedly that you are not the person they are looking for. They will continue to call you anyway. Luckily, there are ways to defend yourself and end the harassment by taking a few simple actions.

Stop Harassment at the Source

According to the Federal Trade Commission, you should initiate a debt dispute by obtaining the address of the debt collector and writing a letter in which you declare that you do not owe the debtor anything.

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  Back in the not-so-distant past, a debt collector could use any number of means necessary-short of violence- to obtain overdue funds from a debtor. For those not necessarily trying to avoid paying a bill, the stress due to lack of appropriate funds coupled with a harassing debt collector was undoubtedly overwhelming. 

Times have changed and for the betterment of those facing debt collection. In 1968, The Fair Debt Collections Act (FDCPA) was put into place to stop the harassment to consumers to simply collect a debt. W

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