April, 2021

Why People Resist Bankruptcy

Sawin & Shea

Bankruptcy is a smart, legal, and effective way to wipe out a mountain of old debts. Yet, it still has a stigma that makes many people avoid it. There are many reasons why people resist bankruptcy, but some are based on fiction rather than facts.

Appeals Court Rules Sending Info to Letter Vendor Counts as Communication Under FDCPA

Account Recovery

The Eleventh Circuit Court of Appeals has overturned a lower court’s ruling that a debt collector did not violate the Fair Debt Collection Practices Act when it sent an individual’s personal information to a letter vendor to have a collection letter sent to that person.

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6 Steps for Financial Spring Cleaning, Pandemic-Style

Nerd Wallet

Given the challenges of pandemic life, many financial tasks may have stayed on the back burner this year as we all tried to just make it through each day. At the same time, the pandemic had a big impact on our financial lives, and some money-related to-do’s are likely in order.

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Start Fresh: A Legacy System is the Recycling Bin for All Your Old Business Processes

NCBA Law Practice Management Blog

Most law firms need to update their technology, and many are aware of it. Of course, that doesn’t mean they will actually update their technology. A primary reason for the reluctance is simple: data transfers suck.

What Is Overtrading And What Are The Risks For My Business?

Hudson Weir

At Hudson Weir, we are first and foremost businesspeople. We recognise just how challenging it is to get your company up and running – let alone be a success. We also understand the thrill that many business owners feel as demand for their product or service starts accelerating.

CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.

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The savings gap for Baby Boomers: Bankruptcy could help you stay retired

Roths Child Law

With just $15 left in their bank, one Baby Boomer made peace with the fact that she had less than others. Many retirees are finding themselves in this same position, which is why it’s an important topic to discuss.

9 Ways to Get Free Books for Kids

Nerd Wallet

Reading has plenty of upsides for kids: It develops skills, boosts intelligence and sparks imagination. Despite the benefits, reading can still turn into an expensive hobby. Thankfully, there are ways you can get new, used and even virtual books without paying a cent.

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Processing Speed: How Much of Your Law Practice Is Mapped Out?

NCBA Law Practice Management Blog

As is clear by now, more efficient law firms make more money than inefficient ones. The more work you can get through, the more money you make. Of course, efficiency does not build up out of thin air: you need to work for it.

Late Payments hampering Small Business recovery

UK debt collections

Small Business late payment is severely hampering recovery from the pandemic according to new data. Delayed payment of invoices owed to SME’s over the past 12 months totals a shocking average of £130,445.05.

CFPB Rule Clarifies Tenants Can Hold Debt Collectors Accountable for Illegal Evictions

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today issued an interim final rule in support of the Centers for Disease Control and Prevention (CDC)’s eviction moratorium. Press release

Going Green: An Update on Installing Electric Vehicle Charging Stations in Condominium Parking Areas

Jimerson Firm

In 2018, the Florida Legislature amended section 718.113 of the Florida Statutes to include a provision requiring that condominium associations allow unit owners to install electric charging stations in limited common element parking areas assigned to each unit owner.

How delayed foreclosure response cost one millionaire his mansion

Roths Child Law

Despite the saying that home is where the heart is, home is often where people store much of their personal wealth. When you purchase a property and begin making payments on a mortgage, you slowly accrue equity. When you eventually sell the home, all of that equity can become money in your pocket.

What’s the Average Student Loan Debt for a Bachelor’s Degree?

Nerd Wallet

The average loan debt for a bachelor’s degree among the class of 2019 was $28,950, according to the most recent data available from The Institute for College Access & Success. The amount of debt you take on for college will depend on a variety of factors.

This Is Why I’m Single: You Should Only Have One Calendar for Your Law Firm

NCBA Law Practice Management Blog

Every year, when you apply for or renew your malpractice insurance, your provider asks whether you have a ‘dual calendar’ system -- like that’s good practice for running a law firm. Only, it’s not.

48% of Businesses see increase in late payments

UK debt collections

New data captured has shown that 48% of Businesses have seen an increase in late payment. Clear evidence that the pandemic is fuelling a continual problem that blights trade.

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Join me for these money events

Dear Debt

Hey debt fighters! I wanted to let you know about some upcoming FREE and low-cost events that I thought you might be into. And before we get started, I want… Related Posts: Come to My Money Party Tonight. Free Debt Workshop Tomorrow. Resources for Taking Care of Your Mental Health and Wealth.

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Subcontractors: What to Do If You Are Not Getting Paid on a Construction Project

Jimerson Firm

As a subcontractor, payment for your work is critical.

How does Chapter 11 bankruptcy work?

Albuquerque Law

There are many different chapters of bankruptcy. The chapter that a debtor selects depends primarily on their individual needs and financial circumstances. One option that is available to both individuals and businesses is a Chapter 11 reorganization. So, what does this debt relief option entail? Who can file Chapter 11? While individuals and married couples can file Chapter 11 bankruptcy, it is most common for businesses to use this option.

IRS Form 944: Instructions and Who Needs to File It

Nerd Wallet

If your small business has employees, your business tax obligations include reporting the income and payroll taxes that you withhold from their paychecks. Typically, this information is reported using IRS Form 941, also known as the Employer’s Quarterly Federal Tax Return.

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Double Up: Why You Should Have Two Email Accounts

NCBA Law Practice Management Blog

Mixed-use work and personal email accounts can quickly become ultra-confusing. And yet, ma n y lawyers still utilize the setup, ostensibly (and, ironically) for ease-of-use/simplicity. Modern law firms need to specialize in efficiency, more than any specific practice area.

Company Directors banned for trading whilst insolvent

UK debt collections

Three Directors of a Finance firm have been banned for trading whilst insolvent. Their actions caused their company to take money from its clients and make payments to themselves despite the company being insolvent. Independent Derivative Traders Ltd traded as Futex.

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Burr & Forman Attorneys Named Top Authors on JD Supra’s 2021 Readers’ Choice Awards

Burr Forman

Burr & Forman LLP announces Matt DeVries and Erik Doerring have been named Top Authors in JD Supra’s Readers’ Choice Awards for 2021. This year, the awards recognize authors for their visibility and thought leadership covering 28 key, cross-industry topics as well as firms for their visibility and engagement in the 28 topics covered by the awards.

Five Key Construction Contract Terms That Every Building Owner Needs to Negotiate

Jimerson Firm

When a building owners hires a contractor to construct a building or other construction project, the contractor is often significantly more experienced when it comes to the ins and outs of the construction contract as well as the overall construction process.

Getting to Know Amy Stratz of FBCS

Account Recovery

The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management.

Listing Your Home in 2021? Here’s What to Know

Nerd Wallet

It’s a good time to be a home seller — homes are selling fast and for a premium — but that doesn’t mean you can jump into the market ill-prepared. Knowing what to expect can position you to make the most of this seller’s market. Roughly 1 in 6 (17%) homeowners plan on selling their.

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Preference Avoidance Actions: When Late is Ordinary

PBWT

A recent case shows how even late payments can be used to satisfy the ordinary course of business defense in a preference avoidance action. Baumgart v. Savani Props Ltd. (In In re Murphy) , Case No. 20-11873, Adv. 20-1070, 2021 Bankr. LEXIS 1035 (Bankr. Ohio Apr. 19, 2021).

Council creates new Debt Collection service

UK debt collections

A new debt collection service has been launched by Barking & Dagenham Council. The Debt Collection service has been launched to reduce the need for enforcement action. The new debt collection agency will be known as ‘Beacontree collections’ and will cater for council owed debts only.

Michigan Department of Treasury Confirms that PPP Loan Forgiveness will Conform to Federal Treatment

Fraser

On April 19, 2021, the Michigan Department of Treasury issued a notice (the “Notice”) announcing Michigan’s conformity to the federal income tax treatment of loans (“PPP Loans”) issued under the Paycheck Protection Program.

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New Florida Law Gives Businesses Liability Protections From COVID-19 Claims

Jimerson Firm

The impact of the COVID-19 pandemic has been difficult on Florida businesses, particularly those in the hospitality, travel and restaurant industries, forcing many of them to close their doors to the public at various times and to suffer financial hardship.