By Bradley Arant Boult Cummings LLP, JDSupra On December 9, 2020, Congressional Democrats, including Elizabeth Warren (D-Mass.) and Jerrold Nadler (D-N.Y.), proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes generally make it easier for consumers to access the bankruptcy system and discharge their debts. Below is
Closeup of the Coronavirus Aid, Relief, and Economic Security Act document. The CARES Act is meant to address the economic fallout of the 2020 coronavirus pandemic. Portland, OR, USA – May 3, 2020 (Shutterstock) By Eduardo Porter, NY Times When jobless workers get their last unemployment check, the effect on
By PYMNTS Americans see both good and bad economic times ahead, with consumers predicting the highest jump in household spending in more than four years, even as the largest share since 2013 think they’ll be worse off this time next year, New York Federal Reserve figures show. “Despite flat income
By Elena Botella, Forbes Bankruptcy offers an exit route for families and businesses trapped by debt. In 2019, Forever 21, Barneys New York and Payless ShoeSource declared bankruptcy. Donald Trump’s businesses have declared bankruptcy on six occasions. The Bankruptcy Abuse and Protection Act of 2005 made bankruptcy much more expensive
By Christopher Maloney, Bloomberg A growing percentage of U.S. homeowners are looking to delay making mortgage payments, the latest sign that the economic recovery is hitting a snag. In the first week of December, the proportion of mortgage borrowers that started seeking forbearance relief rose to its highest level since
