News and Resources
Should I Co-Sign a Loan for My Child?
Generally, no. You have gotten your own financial house in order, and should not risk that stability by placing it in the hands of another. When you co-sign or guarantee the debt of someone else, you are subjecting yourself to the risk that they cannot or will not pay...
Do I Want the Value of My Home to Be Low?
This is a question we often get from clients. We explain to them that bankruptcy is an intensive information gathering exercise and that it is really all about disclosure on their parts. Bankruptcy provides a fresh start, but to get that fresh start the debtor must...
Great news for struggling businesses
The COVID-19 Bankruptcy Relief Extension Act of 2021 was signed this week. This law extends the $7,500,000 debt cap for businesses under the Small Business Reorganization Act of 2019 (SBRA). The extension will last for one additional year, to March 27, 2022. The Act...
Single Women and Financial Protection
Recently I was asked to give advice about how single women can protect themselves from financial downturns and unexpected problems. These problems might arise from an illness or injury, from a loss of a job or income, from being sued and having a judgment placed, or...
Pi(e) Day and Bankruptcy
March 14, coined “Pi Day” since physicist Larry Shaw started the day back in 1988 to celebrate the famous number (and recognized officially since 2009 when the US House of Representatives passed a resolution honoring the day), is often celebrated in the U.S. not by...
COVID Spurs Business Interruption Insurance Claims
The pandemic and its related shutdown orders have cost businesses trillions of dollars. They have also sent business owners scurrying to review their insurance policies. Many are not making business interruption insurance claims. Photo by Anna Shvets from Pexels...
Collecting a Judgment from an LLC
Not too long ago, an attorney called me on the Lawyer-to-Lawyer directory*. He had recently obtained a judgment for his client against a Limited Liability Company (LLC). The amount of the judgment was $17,000, and he believed the LLC might not have much in the way of...
PPP Prosecutions Begin
Last year I predicted that the Department of Justice (DOJ) would be busy prosecuting fraud under the Paycheck Protection Program (PPP). A few weeks ago, the DOJ announced its first civil settlement of such fraud claims. Photo by RODNAE Productions from Pexels The...
When Collecting Consumer Debts, Federal Law Prohibits the Use of Confusing Communications
Photo by Alexander Dummer from Pexels The Fair Debt Collection Practice Act (FDCPA), prohibits misleading an unsophisticated debtor. An “unsophisticated debtor” is “one who is uninformed, naïve and trusting, but does possess rudimentary knowledge about the financial...
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