When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 28, 2020, nearly everyone had questions about what the act contained. For bankruptcy professionals, there were two primary questions: Would the money be counted in calculating a debtor’s income? Would the money be part of the bankruptcy estate and subject to […]
A funny story from the world of credit…
Okay, since here at DFW/Denton/Lewisville Bankruptcy we’re always addressing serious topics, I decided to keep it light today. There’s a story buzzing around the internet that a 3 year-old recently got an American Express Gold Card application in the mail. Also, there are many report of dogs and cats getting credit card offers. If that’s […]
BAD CREDIT SCORES CAN PROLONG UNEMPLOYMENT
Many employers are now checking credit scores of applicants prior to making offers of employment. For many unemployed Americans, this practice is unfair. Consider people who have great credit and payment histories until they lose their jobs. But once their income stops they fall behind on their payments, causing negative marks on their credit report […]
BANKRUPTCY: AVOIDING LIENS
In bankruptcy, debtors have the ability to avoid two types of liens, meaning they can remove the lien from the collateral and make the debt unsecured. A lien can be avoided if it impairs a debtor’s exemption to which the debtor would have been entitled if not for the lien. For example, if a debtor […]
BANKRUPTCY: AVOIDING LIENS
In bankruptcy, debtors have the ability to avoid two types of liens, meaning they can remove the lien from the collateral and make the debt unsecured. A lien can be avoided if it impairs a debtor’s exemption to which the debtor would have been entitled if not for the lien. For example, if a debtor […]