Rambling thoughts on the impact of the 2020 elections on the practice of bankruptcy law.
Unless both Georgia senate runoff races are won by the Democratic Party candidates, it appears that the United States Senate will still be ruled by the Republicans and Mitch McConnell.
Why does this matter? Because if the Democrats take control
Nebraska voters have chosen to cap payday loan interest rates. Ballot box Initiative 428 limits the annual percentage rate on payday loans at 36%.
A Nebraska Department of Banking report indicates that the average annual percentage rate on payday loans in Nebraska is 405%.
However, according to Thomas Aiello of the National Taxpayer Union,
Financial writer Liz Weston (@LizWeston) writes that many people who could benefit from bankruptcy don’t file because of fear and misplaced optimism. See Fear of Bankrutpcy Holds Too Many People Back.
This is the second time that Liz Weston has suggested that more people consider filing bankruptcy (Do Debt Management Plans
A new report entitled Understanding Evictions in Omaha written by Creighton University professors Pierce Greenberg and and Gary Fischer outline the devastating impact evictions have on the Omaha community.
Evictions cause a loss of “social and community capital.” High eviction rates are related to increasing crime rates and cause poor educational performance in schools. They
COVID-19 is a wrecking ball destroying small Nebraska businesses, but at some point the medical crisis will end and the debt crisis will take off.
So far the damage has been mitigated by programs such as the Paycheck Protection Plan, but business revenues have dropped dramatically and consumer spending is not likely to return
The COVID-19 virus has caused millions of Americans to file unemployment claims, and the federal government has increased state unemployment benefits by $600 per week though July 2020.
May a creditor garnish unemployment benefits in Nebraska?
Nebraska Statute 48-647 states that “benefits received by any individual, so long as they are not mingled with other
Presidential candidate Joe Biden recently came out in support of Senator Elizabeth Warren’s bankruptcy reform plan, which is somewhat embarrassing because she is basically proposing to nullify the Bankruptcy Reform Act of 2005 championed by Biden.
Our nation is at the beginning of a COVID-19 Recession that, once again, is dragging the bottom
An email from a new client:
Hi Sam! Thank you for your time yesterday. A few quick questions for you.
The unfolding of the COVID-19 virus episode has been the weirdest experience in my lifetime. I remember the courthouse bombing by Timothy McVeigh in Oklahoma City and commercial jets hitting the Twin Towers on 9/11, but those were one day events.
The corona virus is different because it continues from day to day