We Look Forward to Helping You:  609.315.2787

Posts Tagged ‘CARES Act’

PPP Recipients can Self-Certify for Small Loan Forgiveness

Thankfully, the SBA has issued new guidelines for PPP loan forgiveness with the following changes.  Recipients of $50,000 or less can self-certify that the money was used for covered expenses, the new application is one page short, and the requirement to maintain employee and salary numbers has been eliminated.  This is a great step toward accomplishment of…

Read More

US Credit Scores have gone up due to pandemic aid

In the latest report, consumers have prioritized paying their credit cards using the CARES Act’s unemployment benefits and mortgage moratoria to fuel a rise in credit scores.  This has left some lenders confounded and looking for other ways to measure credit-worthiness.  Consumers should be aware that banks may be using bank transaction history to make…

Read More

A defaulted chapter 13 plan can be extended under the CARES Act

Good news!  A New Orleans judge has found the CARES Act to permit a 7 year extension of a chapter 13 plan whose payments were in default prior to enactment of the Act, holding that the currency of payments is irrelevant. In fact, most chapter 13 plans are in a state of default and ultimately…

Read More