» Interesting Articles

SBRA's Debt Ceiling Increased to $7.5 million - More Businesses and Individuals will Qualify

The massive economic stimulus plan circulating in Congress right now will permit more businesses or individuals to take advantage of Subchapter 5 of the Bankruptcy Code (which FactorLaw has analyzed in prior posts) by increasing the debt cap from $2,… Read More
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FactorLaw's Summary and Analysis of the Small Business Reorganization Act

1. THE SUBCHAPTER 5 ELECTION. Chapter 11 now contains a “Subchapter 5” which applies only to “small business debtors” that make a so-called “Subchapter 5” election. See 11 U.S.C. §§ 1181-1195. Absent such an election, the small business… Read More
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Small Business Reorganization Act Enacted

As discussed in a previous post, on Friday, the Small Business Reorganization Act was signed into law and will take effect in 180 days. The new law, which FactorLaw will further summarize in future blog posts, adds a new subchapter to the Bankruptcy… Read More
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Podcast - Panel for Consumer Commission discusses recommendations on BAPCPA's Credit Counseling requirement

Members of ABI’s Commission on Consumer Bankruptcy discuss the recommendations in the Final Report focused on the Code’s credit counseling and financial management course requirements, and asks the question: do the new provisions make a f… Read More
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News stand. Mixed magazines and papers.

FactorLaw featured in Leading Lawyers Magazine, May 2019

An excerpt from the Leading Lawyers Magazine: “We are very much a family business, like many of the clients we are representing,” Factor says. “Providing top-notch service to our clients is the glue that holds us together. They’re getting the… Read More
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Merchant Cash Advances are Wreaking Havoc on Small Businesses

In an earlier post FactorLaw discussed Merchant Cash Advances, which is a form of financing that appears to be marketed to certain types of small businesses, according to an article dated November 20, 2018 published in Businessweek (the “BW Art… Read More
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Today's deregulation trends have not eliminated consumers' rights against deceptive businesses in Illinois

Even in the midst of trending de-regulation, consumers have protections from shady business practices in Illinois. The Illinois Consumer Fraud and Deceptive Business Practices Act is alive and well, and it allows individuals to bring actions against… Read More
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A house key sitting on mortgage application.To see more of my financial images click on the link below:

5 Mortifying Reasons Mortgage Applications End Up in the 'Reject' Pile

An interesting article in Realtor.com explains why mortgage applications are sometimes denied. According to the article, a recent Federal Reserve study concluded that one out of every eight home loan applications (12%) ends in a rejection. The causes… Read More
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Bankruptcy Filings among Elderly Increased Exponentially over Last 25 Years

According to an article posted today in the New York Times by Tara Segal Bernard, “[f]or a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy.” According… Read More
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Experts predicting increased ilIiquidity and link it to the climate that led to the 2008 crisis

According to a recent report by Morgan Stanley “market liquidity across assets is in decline” and “low liquidity were the fundamental triggers of the 2008 crisis.” Those bankruptcy practitioners that had first hand experience… Read More
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