News & Analysis as of

Debt Debt Relief

Sheppard Mullin Richter & Hampton LLP

FTC Files Action Against Student Debt Relief Enterprise

On June 28, the FTC announced it had filed an action in federal court against a California-based student debt relief enterprise for deceptive practices, including unlawfully obtaining advance fees for debt relief, and...more

Orrick, Herrington & Sutcliffe LLP

Plaintiffs file suit challenging Biden’s latest student debt relief plan

On August 4, two nonprofit entities filed a lawsuit against the federal government aimed at blocking the Biden administration’s recent effort to provide debt relief to student borrowers. The administration’s efforts were...more

Allen Matkins

New Law Seeks To Curtail Coerced Debts

Allen Matkins on

A new California law governing "coerced debt" will soon be taking effect.  This legislation, 2022 Cal. Stats. ch.  989, defines a "coerced debt" as a...more

Baker Donelson

The American Rescue Plan Provides Significant Debt Relief to Minority Farmers

Baker Donelson on

Socially disadvantaged farmers, including African American, Hispanic, Native American and Asian American farmers, will receive aid in the form of debt relief, grants, training and education as a part of the American Rescue...more

Hogan Lovells

Debt Breathing Space Regulations: FCA consults on Handbook changes

Hogan Lovells on

The FCA has published a consultation on changes to its Handbook resulting from the Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (the Regulations)...more

Orrick, Herrington & Sutcliffe LLP

COVID-19 and Debt Suspension for the World’s Poorest Countries

The COVID-19 pandemic has wreaked havoc across the globe, with a rising human and economic toll. Containment of this crisis has warranted unprecedented government intervention in public health and in the economy. ...more

White & Case LLP

G20 announces debt service suspension initiative for low-income countries

White & Case LLP on

On 15 April, the G20 nations agreed to a time-bound suspension of debt service payments for the poorest countries that request forbearance. Here, we set out the details of the initiative and some of the things such countries...more

Miller Canfield

Bankruptcy Options Available for Small Businesses to Continue Operating

Miller Canfield on

The coronavirus pandemic and the resulting abrupt halt to everyday life is causing severe economic damage to small businesses. Small business owners will need to consider all options to survive this downturn, including loan...more

Ballard Spahr LLP

CFPB to host consumer debt relief event

Ballard Spahr LLP on

On March 10, 2020, the CFPB will host a day-long event, “Evolutions in Consumer Debt Relief.”  The event will explore options for consumers facing unmanageable unsecured debt and limited credit options.  ...more

Goulston & Storrs PC

IRS Ruling Addresses LLC Eligibility for Cancellation of Debt Exception

Goulston & Storrs PC on

In new CCA 201525010, the IRS addressed the issue of whether a general “exculpatory” debt of an LLC is recourse or non-recourse for purposes of classifying debt-relief as potential cancellation of debt (COD) income. Recourse...more

Orrick, Herrington & Sutcliffe LLP

Puerto Rico Debt Recovery Act Ruled Unconstitutional1

On Friday February 6, the Puerto Rico Federal District Court ruled the Debt Enforcement and Recovery Act (the “Recovery Act”) unconstitutional. Franklin Calif. Tax-Free Trust, et al. v. Comm. Of Puerto Rico et al., (D.P.R.,...more

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