How Americans are Safeguarding Their Finances During an Economic Downturn In the middle of a year characterized by uncertainty, Americans are finding stability through reducing their credit card debt. Economists expected the rising unemployment rates and recession to be met with increased debt. However, reduced spending and government supplementation flipped the expected outcome. The Numbers […]
Category Archives: Bankruptcy
10
Aug
Aug
What property can I keep when I file for a Chapter 13 Bankruptcy? How are my house, car, cell phone, and money handled in Chapter 13? Chapter 13 bankruptcy allows you to protect most of your assets, including your home and car. This bankruptcy filing lets you pursue financial relief while protecting your way of […]
01
Jul
Jul
Pandemic-related closures may have forever changed the restaurant industry. Many bars and restaurants are beginning to open their doors once again. The mandated closures of the last few months are now slowly being lifted, as long as safety guidelines are met. Though in most states restaurants can re-open, some restaurants are financially unable to.
22
Jun
Jun
Should I Open a New Bank Account Prior to Filing Bankruptcy? Prior to filing bankruptcy, a common concern is whether you can keep your bank account open during the process. The answer in most cases is yes. However, if you owe your current bank money, it is generally a good idea to switch to another […]
09
Jun
Jun
Retailers face financial uncertainty as many file for bankruptcy. State economies are beginning to re-open, including the return of in-store shopping. The re-opening of stores is a hopeful landmark, but it isn’t an immediate fix to decreased revenue. Some retailers who were on a financial downturn before the pandemic have found themselves facing bankruptcy decisions […]
27
May
May
State governments are feeling the pressures of economic struggles too. Financial stress has closely followed the spread of coronavirus. Closed businesses and rising unemployment numbers are evidence of the strain caused by COVID-19. States are also experiencing similar burdens, with budgets being stretched and expected income at a halt. Unlike businesses and individuals though, states […]
22
May
May
What protections to my home are available during this financial hardship? Many Americans are still under a Stay At Home order, with some worried about financially protecting the home they are in. Fortunately, you may be able to find relief options through the CARES Act, your loan servicer, or a state program. CARES Act Protections […]
07
May
May
The Economic Income Payments, more commonly known as stimulus checks, are steadily being received by the millions of Americans who qualify. These payments are calculated and issued by the Internal Revenue Service (IRS), as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). These payments provide emergency financial assistance to the many […]
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