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.

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.

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.

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.

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 ›

By John Aidan Byrne

New York City’s struggling yellow cabbies are facing the auction block.

Call it the Uber effect: A record 139 New York City taxi medallions will be up for sale in bankruptcy auction this month as cab drivers continue to struggle to compete with ridesharing apps.

Arizona Money Judgment Validity and Renewal Deadline Extended from Five Years to Ten
Guest Post: Larry Folks, Folks Hess Kass, PLC