Another Extension of the Mortgage Foreclosure Moratorium

Wasson and ThornhillForeclosure

man worried about foreclosure

Photo by [ik] @invadingkingdom on Unsplash. President Biden acted immediately to re-extend the previously extended federal foreclosure moratorium. It now goes through March 31, 2021. New Foreclosure Moratorium Extension through March 2021 On the day of President Biden’s January 20 inauguration, the White House stated that: he will ask the Department of Veterans Affairs, Department of Agriculture, and the Department … Read More

New Extension of the Student Loan Moratorium

Wasson and ThornhillStudent Loans

student chairs

Photo by Nathan Dumlao on Unsplash. President Biden acted immediately to re-extend the previously extended federal student loan moratorium. It now goes through September 30, 2021. New Extension through September 2021 On the day of President Biden’s January 20 inauguration, the White House stated that: the Acting Secretary of Education will extend the pause on federal student loan payments and … Read More

New Extension of the Eviction Moratorium

Wasson and ThornhillFinancial Crisis

apartment home for rent

Photo by Jose Alonso on Unsplash. President Biden again extended the previously extended federal eviction moratorium. So it now goes through March 31, 2021, under the same rules. New Moratorium Extension through March 2021 Hours after his inauguration last week, President Biden signed an executive order requesting extension of the eviction moratorium through March 31, 2021. On the same day … Read More

$600 Pandemic Relief Payments Protected

Wasson and Thornhillpandemic

pandemic caused closure

Photo by Edwin Hooper on Unsplash. The $600 pandemic relief payments now being distributed are protected from the reach of bankruptcy trustees, with some timing considerations. The federal Consolidated Appropriations Act (CCA) became law on December 27, 2020. It is reportedly the longest single bill that Congress has passed. Within its 5,593 pages are about 15 pages of temporary changes … Read More

Renewed and New Unemployment Benefits Approved

Wasson and ThornhillUnemployment Benefits

employed employees

Photo by Alex Kotliarskyi on Unsplash. Federal unemployment benefits were extended as of December 27, 2020. With one new unemployment benefit added. Here’s what the new law includes. The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSA), was enacted on December 27. Last week we wrote about the new $600 stimulus payments of this new Act. It also extended unemployment … Read More

$600 Pandemic Relief Payments Are Coming

Wasson and Thornhillpandemic

$600 cash

Photo by Alexander Mils on Unsplash. Now that Trump did sign the new pandemic relief law, and the increase to $2,000 is not happening, when and how are the $600 payments coming? Last Sunday (on December 27) President Trump signed the pandemic relief law that Congress had passed 6 days earlier. Because between its passage and before signing he’d surprisingly … Read More

Trump DOES Sign Pandemic Relief Law

Wasson and Thornhillpandemic

signing signature

Photo by Scott Graham on Unsplash. Unexpectedly Trump did not sign the new pandemic relief law last week. Then after multiple objections, he unexpectedly signed it Sunday night. Late last weekend (on December 20) Congress announced it had a deal on a new pandemic relief law. That agreement was the topic of our blog post last week. Since our last … Read More

Congress Agrees to New Pandemic Relief

Wasson and Thornhillunemployment benefits

money for relief

Photo by Blogging Guide on Unsplash. Congressional leaders finally announced an agreement for new pandemic relief, extending unemployment benefits and new stimulus payments. On Sunday evening, December 20, 2020, the U.S. Senate Republican and Democratic leaders announced that they finally agreed on a new pandemic relief package. Majority Leader Mitch McConnell said the following on the floor of the Senate: … Read More

Chapter 13 and Your Vehicle Loan or Lease

Wasson and ThornhillVehicle Loans

car vehicle

Photo by A n v e s h on Unsplash. Chapter 13 is more powerful and flexible than Chapter 7 in buying time on your vehicle loan or lease. It can even help more after a repossession. We’re in a series on the smart timing of your bankruptcy case. Last week we interrupted for a breaking story on the pandemic-based … Read More

No Federal Student Loan Payments through January

Wasson and ThornhillStudent Loans

college student

Photo by Element5 Digital on Unsplash. The pandemic’s federal student loan forbearance period which was expiring at the end of December has been extended through January 31, 2021. On Friday, December 4, the Department of Education extended a forbearance period that was expiring on December 31, 2020. Its press release says “[f]ederal student loan borrowers will not be expected to … Read More

Chapter 7 and Your Vehicle Loan or Lease

Wasson and ThornhillVehicle Loans

vehicle alone in parking lot

Photo by Erik Mclean on Unsplash. A timely Chapter 7 filing helps in diverse situations with your vehicle loan or lease. Check out these 7 ways Chapter 7 gives you big advantages. We’re in a series on the smart timing of your bankruptcy case. Last week we got into filing bankruptcy to stop a vehicle repossession or surrender. We referred … Read More

Avoid Vehicle Surrender or Repossession

Wasson and ThornhillVehicle Loans

vehicle in driveway

Photo by Zachary Keimig on Unsplash. Use bankruptcy to avoid surrendering your vehicle or getting it repossessed. Then Chapter 7 or 13 will either buy time or allow you to keep it. We’re continuing a series of blog posts on the smart timing of your bankruptcy case. This week we get into filing bankruptcy to stop a vehicle repossession or … Read More

Non-Vehicle Cramdown Timing

Wasson and ThornhillSecured Debts

kitchen with appliances

Photo by Clayton on Unsplash. Cramdown is often used as a tool to lower monthly payments and the total paid on vehicle loans. This tool also works with other collateral. We’re in a series of blog posts on the best timing for your filing of your bankruptcy case. Last week we got into timing the cramdown of a vehicle loan. … Read More

Vehicle Loan Cramdown and Chapter 13 Timing

Wasson and ThornhillVehicle Loans

vehicles on road

Photo by Xan Griffin on Unsplash. Vehicle loan cramdown lowers your monthly payment and reduces the total you pay for your vehicle. You have to qualify, and timing is crucial. We’re in the midst of a series on filing your bankruptcy case with the best timing. Today we get into the right timing to be able to cram down your … Read More

Student Loans and Chapter 13 Timing

Wasson and ThornhillStudent Loans

nervous student

Photo by Tim Gouw on Unsplash. Chapter 13 gives you significant timing advantages better enabling you to demonstrate the required undue hardship to write off student loans. We’re in a series on the best timing for filing your bankruptcy case. Two weeks ago we introduced the special condition you have to meet to discharge (write off) student loans: undue hardship. … Read More