When a bankruptcy petition is filed, the debtor is required to identify and disclose all of their assets. This includes physical assets such as real estate, automobiles, and personal property. However, it also includes many intangible assets such...
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As the economic effects of the Covid-19 pandemic continue to ripple across our economy, more and more consumers will face the prospect of a bankruptcy filing. While the long-awaited vaccine gives hope for many consumers, it also means that many...
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Covid-19 and its effects on our national, regional and local economies are both well – documented and ongoing. Businesses both large and small have suffered financial distress due to limitations on how their operations were conducted, and...
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A previous article on our website addressed the expected September surge in bankruptcy filings as the various financial protections that were extended to consumers during the Covid – 19 pandemic began to expire. However, that has not yet...
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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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