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 […]
Category Archives: Bankruptcy
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 […]
27
Apr
Apr
Business Bankruptcies are on the rise in Minnesota Small businesses have begun to seek financial relief as the pandemic continues. From the federal to state level, programs have been enacted to provide assistance. These programs aim to help small businesses struggling to pay operational expenses due to COVID-19. Several of the programs are offering this […]
17
Apr
Apr
The affects of the Coronavirus (COVID-19) on Minnesota Unemployment & The Restaurant Industry Governor Walz has extended Minnesota’s Stay at Home Order through May 4th, also extending the closure of dine-in spaces and other entertainment venues. Restaurants, their employees, and the hospitality industry are facing unemployment and revenue loss. From systematic changes in filing for […]
25
Mar
Mar
All industries have been uniquely impacted by COVID-19 and its dramatic change to our everyday. Access to paid sick leave, the ability to work remotely and industry-wide shutdowns have affected different sectors of the workforce. According to MarketWatch, consumer-reliant industries will be the first to feel the hit of the new coronavirus strain. This classification […]
24
Mar
Mar
Minnesota is known for its lakes, dedication to the sport of hockey, and love of hotdish – but its residents’ financial responsibility is even more notable. For the eighth consecutive year, Minnesota residents held the highest average FICO credit score at 731 according to The Week. Following closely behind are South Dakota, Vermont, New Hampshire […]
08
Jan
Jan
Bankruptcy and Divorce. If you have been involved in a divorce, you may be wondering what happens to the debt that was divided in your divorce agreement. You may also wonder what happens if your ex files for bankruptcy. These answer depend on a few factors surrounding you and your ex.