The federal government makes changes to its bankruptcy laws every so often and states also pass measures of their own when they feel their laws require an update. In December of 2020, Senators Warren and Nadler introduced a new bill called the Consumer Bankruptcy Reform Act of 2020, which would make some changes to the […]
Protecting Yourself from Ruthless Debt Collectors
The pandemic has brought financial misfortune to millions of Americans, and when the dust settles, and life slowly gets back to normal, it’s a good bet that debt collectors will ramp up their efforts to collect. The financial instability of 2020 has pushed the budgets of many Americans to the breaking point, and it’s only […]
Can You Buy a Foreclosed Home?
A home foreclosure occurs when a lender decides to sell a house because the homeowner has been unable to make payments on the house. With a home mortgage, the house is the collateral the bank or lender will sell if the homeowner doesn’t make payments. Although the prospect of facing foreclosure is something no one […]
What Happens When You Pay Taxes Late?
If you pay your taxes late, you may have some penalties to pay, but it’s unlikely your life – or business – will be turned completely upside-down as the Internal Revenue Service (IRS) seeks to take everything you own. Mistakes happen, and sometimes financial problems exist that make it impossible to pay the IRS what […]
Can Debt Collectors Collect During the Coronavirus Pandemic?
Debt collectors often act in ruthless ways that can create immense stress in your life, and some debt collectors even run afoul of the law and break the rules of the Fair Debt Collection Practices Act (FDCPA) in their zeal to obtain money from debtors (whether or not the money is actually owed). The coronavirus […]
Bankruptcy Timeline
Filing for and completing the bankruptcy process is a long and complicated journey, and the bankruptcy timeline may take more than six months to complete. If you decide to file for bankruptcy, you will likely need to speak with a lawyer to start the process because there are so many steps involved. Not only must […]
Is Debt Consolidation Better Than Bankruptcy?
Debt consolidation is a popular option for anyone who has a lot of credit card debt and wants to pay off their debts without filing for bankruptcy, but it’s not an option for everyone. Some people will fare better when they file for bankruptcy, and others will have the best experience if they consolidate their […]
Can I Still Buy a Home During the COVID-19 Pandemic?
In just a few short months, the coronavirus pandemic of 2020 has thrown the world’s economies into chaos, tens of millions of people have filed for unemployment assistance, and entire industries have experienced collapse with stay-at-home orders. For anyone who was – or is – thinking about purchasing a home, it’s common to wonder if […]
Will the Coronavirus Pandemic Affect My Bankruptcy?
The coronavirus pandemic of 2020 has turned into a financial nightmare for millions of Americans. Tens of millions of households have had a family member apply for unemployment benefits, and the number of defaults on mortgages and other financial obligations has skyrocketed. So far, local and state governments, as well as Congress in Washington, D.C., […]
Covid-19 Tax Changes
The coronavirus pandemic has forced people around the world to make dramatic changes to their everyday lives, and Americans should be aware of some Covid-19 tax changes that will likely impact how and when they file their taxes for the 2019 tax year. In late March of 2020, Congress and the president passed a massive […]
