July 10, 2020, the CFPB released a report examining recent trends in debt settlement and credit counseling. Many Americans struggle with their debts, especially during times of crisis. Today’s report documents changes over time in how consumers have used these debt relief options for unsecured debt.
Using the Bureau’s Consumer Credit Panel (CCP), a . . . → Read More: CFPB Releases Report on Debt Settlements and Credit Counseling
By William H. Brown, Editor and Advisor, Academy for Consumer Bankruptcy Education, Inc. (d/b/a ConsiderChapter13.org)
Members of the Academy and regular speakers at NACTT’s annual seminars were recently elected as Fellows of the American College of Bankruptcy, representing recognition by the College of the important contributions by those in the consumer bankruptcy system.
Newly . . . → Read More: New Fellows of American College of Bankruptcy
By Cameron Kelly & Michael Carroll, Law Students, The University of Texas School of Law
I. Starting the Journey
Instead of starting class by cold-calling people, Professor Westbrook chose to suspend my terror briefly. While I was thankful for the reprieve from what would inevitably be a disappointing cold call, I was more thankful . . . → Read More: The Bankruptcy Moot Court Experience – Duberstein 2019
By Jan Hamilton, Standing Chapter 13 Trustee (Topeka, KS)
I just got back from RAGBRAI, which is a bicycle ride across Iowa. This year, it was 468 miles, with lots and lots of hills. (Biking Across Kansas was over 500 miles this year.) Such beautiful country. Estimates vary on actual number of riders, but . . . → Read More: Stop and Smell the . . . Well, Corn
By Robert (Bob) Schuman, Owner/Managing Broker, Network Financial Group
I’m a mortgage broker.
In that role, I see close up the immense relief that a homeowner feels when they file Chapter 13.
They are no longer forced to deal with collection calls and a multitude of letters that are aggressive and intimidating, threatening to . . . → Read More: Ordinary Heroes Deliver Second Chances with Bankruptcy
Tiffany M. Cornejo was appointed as the Chapter 13 Standing Trustee for the District of New Mexico on December 1, 2017. She took the reins from retiring Kelley Skehen.
Ms. Cornejo received her Bachelor of Science in Journalism (B.S.J.) degree at the University of Kansas in Lawrence in 2002 and remained there to obtain . . . → Read More: Meet A Newish Trustee
3/19/19 IRS reminded taxpayers that it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, 2019.
This . . . → Read More: Tax Time Guide: Contribute to an IRA by April 15 to claim it on 2018 tax returns
The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ. The 2018 Form 1040 uses a building-block approach that allows individuals to file only the schedules they need with their federal tax return. Many people will only need to file Form 1040 and no schedules.
Electronic filers may not notice these changes . . . → Read More: There is NO MORE Form 1040A or 1040EZ – Six New Schedules Some Taxpayers Will File with New Form 1040
Victims of March 3rd tornadoes and severe storms in Alabama have until July 31, 2019, to file certain individual and business tax returns and make certain tax payments.
The IRS is offering this relief to any Major Disaster Declaration area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Currently, . . . → Read More: IRS Extends April 15, Other Upcoming Deadlines for Alabama Storm Victims, Provides Other Tax Relief
When someone legally changes their name, there are tax consequences they need to know about, especially at tax time. People change their names for several reasons:
Taking their spouse’s last name after a marriage Hyphenating their last name with their spouse’s after getting married Going back to their former name after a divorce Giving . . . → Read More: Here’s How a Name Change Affects a Tax Return