There are two things going on with Student Loans: What Resumption of Student Loan Payments Means For You? The resumption of student loan payments in October will not only end inflation but may cause many Americans to think seriously about bankruptcy to get of other debts they may not be able to pay any longer […]
New Bankruptcy Means Test expense allowances Beginning May 15, 2023
Legalconsumer.com has just updated its Means Test Calculator to incorporate the latest expense deductions announced by the justice department that take effect May 15, 2023 The new numbers affect Part 2 of the means test, where above-median-income debtors are asked to list their monthly expenses. Some of those expenses are “actual” expenses, while others are […]
Colorado Expanded the Definition of “Dwelling” to include living in your car: Homestead Exemption Laws Expand to Meet the Modern Age
These days, what people call a “home” can be anything from a mansion to a car parked in a part of the town where they won’t be hassled and can get some sleep. Bankruptcy law has always allowed people to protect their home, through something called a homestead exemption. Homestead laws are generally found in […]
Recent State Bankruptcy Exemption Changes Thanks to NACBA
The National Association of Consumer Bankruptcy Lawyers (NACBA) lobbies Congress to create laws favorable to consumer debtors. In 2022 they had several successes: CALIFORNIA 2022 S.B.1099: Signed into law on September 28, 2022. The bill goes into effect January 1, 2023. Highlights include: “Ride through” option restored for vehicles (no more repos for failure to […]
Spring 2003 Consumer Law Updates
What’s new on LegalConsumer.com Here’s what we’ve updated on the website recently. Check it out! New April 1, 2023 Means Test Median Income Amounts Incorporated Into the Means Test Calculator In April and November, the justice department updates median income figures for the bankruptcy mean test twice a year. Expense allowances are updated every May. […]
AI Debt Collection Bots are Unleashed, Harassing People With Debt Collection Lawsuits
AI bots are now making it possible for debt collection agencies to go after even the smallest possible lawsuits, whether or not they are valid debts or not. Tens of thousands of such lawsuits are being filed by AI bots nationwide, affecting poor people everywhere, according to a report by Wired Magazine. The goal of […]
California Exemption Changes Effective 2023
California Exemption Changes CALIFORNIA S.B.1099: Signed into law on September 28, 2022. The bill goes into effect January 1, 2023. Highlights include: “Ride through” option restored for vehicles (no more repos for failure to reaffirm). Homes protected from trustees selling them due to post-petition appreciation where had been fully protected by the homestead exemption on […]