Decrease in Bankruptcy Filings In the five months since “Covid” and the “Coronavirus” have become household words, the American economy experienced more turbulence than at any time since the Great Recession. Business bankruptcies for small...
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In response to the coronavirus threat, many local and state governments enacted restrictions which prevented some businesses/industries from operating entirely, while other businesses could still operate at a reduced workload. Realizing that many...
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Small business owners are traditionally more reluctant than most to consider bankruptcy. Understandably, their business is not just a source of income, but usually represents a considerable investment in personal time, money and resources.[1] As...
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One of the biggest concerns facing our economy during the pandemic is homeowners’ ability to manage their mortgage payments with reduced, or no income. In the previous recession over a decade ago, many American consumers struggled with the...
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The present coronavirus pandemic is unlike anything that most of us have seen in our lifetimes. Setting aside the medical issues and health risks associated with this fast spreading disease, there will be economic and financial consequences for...
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Stimulus Package Scam Warning!!! While the stimulus package that was designed to assist those suffering financially from the effects of Covid-19 will be a good thing for many consumers, the original declaration that money would be “deposited...
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Student loan debt has become a familiar topic of conversation in the upcoming presidential election. However, this has also been a frequent topic in previous elections, with many promises being made, but eventually left undelivered...
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The common misconception of the debtor in bankruptcy is an individual who was reckless in borrowing, and irresponsible in paying back their debts. While mismanagement and over-extension are present as causes in some bankruptcy cases, even the...
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As hiring has evolved, potential employers are reviewing much more information in deciding whether or not to hire prospective employees. Potential employers are no longer content to review a resume, and contact references. They will also review...
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The fundamental causes of financial distress are virtually immune to a person’s place and life. Divorce, health issues, and unemployment can affect anybody at any time. No wage or income class is exempt from these problems, regardless of how well...
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In the September 2018 edition of the American Bankruptcy Institute Journal, Ed Flynn writes an interesting article regarding “The Changing Profile of Chapter 7 Filers”.[i] By reviewing filing data on more than 650,000 Chapter 7 cases that were...
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Wells Fargo admits that a “computer glitch” caused the improper foreclosure of hundreds of home loans between April 2010 and October 2015. But keep in mind that there were probably thousands of improper foreclosures that were averted...
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