Woman sells clothing item at Washington Square Park amid coronavirus (Covid-19) pandemic as daily life continues. – November 14, 2020 (Shutterstock) By Mark Davidson & Kevin Ward, The Conversation U.S. cities are fast running out of cash. The pandemic will reduce local government revenues by an estimated US$11.6 billion in
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
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 Maurie Backman, The Mottley Fool Given the number of Americans who have struggled financially during the coronavirus pandemic, you’d think foreclosure numbers would be booming. But actually, according to new research on household debt by The Ascent, foreclosure rates are down this year. While there were around 50,000 foreclosures
By Zack Friedman, Forbes Joe Biden can impact your student loans in many ways even if he doesn’t cancel student loans. Here’s what you need to know. Student Loans President-elect Joe Biden has called on Congress to cancel student loans immediately. Biden wants each borrower to receive $10,000 in student loan cancellation
Democratic 2020 U.S. presidential candidate Elizabeth Warren Campaigns in New Hampshire – Exeter, NH – March 15, 2019 (Shutterstock) By Alexander Gladstone, WSJ Congressional Democrats on Wednesday introduced legislation overhauling the U.S. bankruptcy system to make it friendlier to consumers while opening the door to student-loan cancellation, among other proposals.
By Carmen Reinicke, CNBC Millions of Americans got an early Christmas present this year – on Friday, the U.S. Department of Education extended the coronavirus pandemic-induced pause on student loan payments through January 2021. Accruing interest will also be on hold and the department will not resume collections on defaulted
By Teadra Pugh, Bloomberg Law It could be easy for some to forget the global nature of the pandemic and economic uncertainty that we are experiencing in the United States. As a result, I am taking a look at a less commonly known type of bankruptcy that could provide a
Description: No money, no love. Can’t make love on an empty stomach. No matter the point in time, money problems and financial difficulties are always at the center of discord. It affects our bottom line, health – mental, physical and emotional – and our relationships. Now, we have the added
Democratic presidential candidate, former Vice President Joe Biden speaks in Philadelphia, DC USA June 2, 2020. (Shutterstock) By Anya Kamenetz, NPR President-elect Joe Biden has affirmed his support for erasing some student debt “immediately.” Student debt forgiveness was a major campaign plank of some of his more progressive rivals for
