Bloomberg: The Taxicab Bubble Couldn’t Last Forever

by Joe Nocera
Bloomberg News on Monday posted an article about something that has become a pretty big deal in New York City: Taxi drivers are committing suicide.

New York Times: Taxi Drivers in New York Are Struggling. So Are Uber Drivers.

By Emma G. Fitzsimmons

After a growing furor among Uber drivers in New York City in 2016 over plunging incomes, Uber relented and made a rare concession: It agreed to recognize a local driver group.

CBS News: Uber CEO backs surcharge to aid struggling NYC taxi owners

NEW YORK -- The CEO of Uber says New York City should impose a fee on app-hailed rides to help taxi medallion owners who are struggling with debt.

CEO Dara Khosrowshahi told the New York Post on Monday the city should put the surcharge into a fund to help taxi owners who bought their medallions at sky-high prices. He didn't say how much the fee should be.

Forbes: Can Student Loans Now Be Discharged In Bankruptcy?

By Zack Friedman

It's one of the most intensely-debated student loan questions: Can you discharge your student loans in bankruptcy?
The short answer: normally, student loans are not dischargeable. However, that may change.

Here's what you need to know - and why.

Student Loans & Bankruptcy: Overview

First, a quick overview. As many borrowers struggle to repay ballooning student loan debt, bankruptcy is one option that gets floated.

May 2018 TLC medallion sales

The May 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are James Shenwick’s comments about those sales results.

Wall Street Journal: Judges Wouldn't Consider Forgiving Crippling Student Loans-Until Now

In interviews with the Wall Street Journal, more than 50 current and former bankruptcy judges, frustrated at seeing borrowers leave federal courtrooms with six-figure debts, say they or their colleagues are more open to chipping away at the decades-old guidelines that determine how such debt is treated.
 
“If the law’s not going to be improved by Congress, we have to help these young people who are drowning in student loan debt,” said U.S. Bankruptcy Court Judge John Waites in South Carolina.

Crain's New York Business: The other Uber fight: Unions brawl to rep drivers

By Will Bredderman
Who speaks for Uber drivers?
As market saturation and driver suicides wrack the taxi and black-car industry, and the city gears up for another street fight with ride-hail apps, three powerhouse unions are in an equally heated drag race to represent car operators working under Uber, Lyft and their competitors. All call themselves the definitive voice of tens of thousands of drivers and claim the others are frauds.

Am I Eligible to File Bankruptcy?

All of my clients want to know how quickly they can recover their credit score and so here is the answer. If you are proactive you can have a six eighty or six 90 credit score. Two years after we file the bankruptcy petition the way that you do that is you obtain a credit card immediately after we file. You start using the card responsibly and you only charge 50 percent of the limit on the card and you pay that off every single month. If you do that for two years you're going to have a 680 credit score in two years.

U.S. Supreme Court Holds that Debtor’s False Oral Statement Concerning Single Asset Does not Provide Basis for Non-dischargeability Action

On June 4, 2018, the U.S. Supreme Court decided the case of Lamar, Archer & Cofrin, LLP v. Appling, No. 16-1215, which dealt with the dischargeability of debt in bankruptcy proceedings. The Court held that a statement about a single asset can be a “statement respecting the debtor’s financial condition” under section 523(a)(2) of the Bankruptcy Code. Read More ›

How to Rebuild Credit After Bankruptcy

rebuild credit after bankruptcy

Pages

Subscribe to Bankruptcy Resources RSS