| Volume 142 Number 92 |
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The People’s Lawyer’s Tip of the Day
Now that the holiday shopping season is in full swing, scammers are shopping too, looking for people to separate from their money. Here are some tips to help you outsmart those bah-humbug scammers and donate safely. Click here for more.
Flying somewhere in 2020? The new airline ratings are out
There are ratings and rankings for darn near everything: colleges, weight loss diets, annuities, even how much love consumers have for their cars. Some of the annual lists that ConsumerAffairs readers look forward to revolve around travel. After all, if travelers are going to spend their hard-earned money to have a good time on a vacation, then, by George, they should have a good idea of which vacation-related businesses should receive their patronage. Earlier this year, ConsumerAffairs reported on the carriers that AirlineRatings found to be the safest, and most of those airlines have made it onto 2020’s “best of” list as well. Drum roll, please… Click here for more.
Your Money
Tax season is around the corner, and if you want to reduce how much you pay the government, you need to understand which tax credits you can claim. Tax credits shouldn't be confused with deductions, and a credit is significantly more valuable than a deduction of the same amount. That's because a tax credit directly offsets taxes owed while a deduction reduces how much income is taxable. Keep reading to learn more about how tax credits differ from deductions and which federal tax credits apply to your situation. Click here for more.
For the Lawyers
Third Circuit Joins Minority View Regarding Whether Secured Creditor Has Affirmative Obligation to Return Collateral to Debtor Upon Bankruptcy Filing, The circuit courts continue to wrestle over the duties imposed by the Bankruptcy Code’s automatic stay on creditors concerning turnover of a debtor’s impounded vehicle. Is a creditor required to automatically turn over the vehicle as soon as the bankruptcy petition is filed, or can it retain possession while awaiting an order of the bankruptcy court adjudicating turnover in an adversary proceeding? Five circuits, including the Seventh Circuit in City of Chicago v. Robbin L. Fulton, have held that the automatic stay requires a creditor to immediately release an impounded vehicle when the owner files for bankruptcy. On the other side of the split, the Tenth and D.C. Circuits have rejected this argument, and they have now been joined by the Third Circuit. The Third Circuit held that a creditor in possession of collateral that was repossessed before a bankruptcy filing does not violate the automatic stay by retaining the collateral post-bankruptcy petition. In re Denby-Petersen (3rd Cir. 2019) Click here for more.