CARES Act Brings Temporary Changes to Bankruptcy Rules

Professional Man and woman looking at papers | CARES Act Brings Temporary Changes to Bankruptcy Rules | Alfred Abel Law Offices

The COVID-19 pandemic has caused financial devastation to businesses and individuals across the country. To bring financial relief to those impacted by this health crisis, on March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act providing stimulus payments to individuals, families, and businesses. Along with the distribution of funds, the CARES Act also includes important changes to federal Bankruptcy laws.

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Is Your Debt Collector Legitimate or a Scam?

The Coronavirus pandemic has left many Pennsylvanians overwhelmed with financial hardship, job loss, and mounting debts. Those struggling to pay bills before the COVID-19 outbreak may now face a spike in telephone calls from debt collectors. If this happens, how do you know if a debt collector is a scam or legitimate?

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What Does ‘Clawback’ Mean in a Bankruptcy?

Young female businesswoman listening to male businessman speak | Bankruptcy Clawback | Alfred Abel Law Offices

Just before filing bankruptcy, if a debtor decides to transfer title of an asset, like a house or a business, the asset may be returned to the debtor’s estate under the clawback provision in bankruptcy law. In some situations, the bankruptcy trustee appointed to manage the debtor’s financial affairs can recover those pre-bankruptcy assets from individuals or companies who received them.

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What You Need to Know About Bankruptcy Preferences

Pictured is a tabletop with the hands of two people examining paperwork | Alfred Abel Discusses What You Need to Know About Bankruptcy Preferences

As Philadelphia bankruptcy lawyers, clients often ask us if a bankruptcy court will look at debts already paid to creditors prior to filing a bankruptcy case. While filing bankruptcy addresses debts that a debtor is no longer able to pay, bankruptcy also looks at payments made to creditors that occur during a specific time period before the bankruptcy filing. In fact, under the bankruptcy preferences law, a bankruptcy trustee can require payments made to creditors shortly before the bankruptcy filing be paid back to the trustee.

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Five Reasons Why Every Philadelphia Business Should Have a Lawyer on Retainer

Alfred Abel Discusses Why Every Business Should Have a Lawyer on Retainer

Whether your Philadelphia business is a small local start-up or a large corporation, you need to have the right team by your side to ensure your ongoing success. With regard to documentation and compliance, you will benefit from having a skilled and experienced attorney on retainer. If you are operating a business in Philadelphia, here are five excellent reasons why your business would benefit from having a lawyer on retainer:

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Personal Injury Lawyer Discusses Pennsylvania’s Statute of Limitations

Personal injury lawyer Alfred Abel discusses PA's statute of limitations - Alfred Abel Law Offices

As a personal injury attorney, I am often asked about the time limit to file a lawsuit after suffering an injury. In legal terms, the law defining the time limit or deadline one must meet to file a legal action or lawsuit is referred to as the “statute of limitations.” Every state has its own statutes of limitations for filing legal actions of all types, including those involving a personal injury.

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What is Value-Based Pricing for Legal Services?

Many attorneys are turning to Value-Based Pricing for Legal Services - Alfred Abel Law Offices

Though the long-standing tradition is that law firms bill clients by the hour, the legal industry is starting to see a shift by some law firms to value-based pricing for legal services. The value-based pricing model has been widely used in the business world for more than 50 years. In recent years inflation and rising costs for legal services have prompted some attorneys to look to viable alternatives to the traditional time-based billing method.

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The Holiday Season and New Year Bring Increases in Bankruptcy and Personal Injury Cases

Colorful snowflake lights against a black background-Bankruptcy and Personal Injury Cases Increase During Holidays - Alfred Abel Law Offices

The holiday season is here and the new year is around the corner. During this time of year our Philadelphia law firm sees a rise in bankruptcy and personal injury cases. Whether from the financial strain and overspending common during the Christmas holiday or the dangerous road conditions and often alcohol-fueled holiday celebrations that lead to accidents, the holiday season and new year are popular times for personal injury and bankruptcy cases.

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Philadelphia Bankruptcy Lawyer Discusses Tips for Small Businesses

Chapter 13 Bankruptcy Lawyer - Tips for Small Businesses - pictured is a tabletop with the hands of two people examining paperwork

One unfortunate aspect of working as a Philadelphia bankruptcy lawyer is knowing that a great many business bankruptcies might have been avoided. Sometimes catastrophes happen, or bad luck ruins a good business plan, but often, small and medium-sized business (SMB) owners call a bankruptcy lawyer due to inexperience or costly decisions over time. Sometimes calling a bankruptcy lawyer before the situation is too dire can yield solutions other than bankruptcy.

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