By Michael McCormick, Senior Partner, McCalla Raymer Leibert Pierce, LLC (Roswell, GA) H.R. 748, also known as the CARES Act (herein, “the Act”), was enacted into law on March 27, 2020. The Act is meant to address the economic fallout of the Coronavirus pandemic. The Act contains numerous consumer protections, including several pertaining to residential mortgages. Relief from Foreclosure Section...
From the Editor – Avoidance
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By The Honorable William Houston Brown (Retired)
Section 547(c)(8) threshold applied. In a Chapter 13 case, one debtor’s employer withheld $858.98 as a result of prepetition wage garnishment, but the actual amount transferred to the judgment creditor was less than $600, with the remaining amount returned to the debtor after the creditor cancelled the garnishment. As a result, the aggregate amount was less than the $600 threshold of § 547(c)(8), preventing the avoidance of $572.78 transfer as a preference. Pierce v. Collection Associates, Inc. (In re Pierce), 504 . . .
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From the Editor – Claims