Category Archives: Bankruptcy
What Industry is Struggling (Surprisingly) During the Pandemic? Health Care
It may sound counterintuitive, but the recent lockdown to protect the public from the novel coronavirus is disrupting one of the largest industries in the nation: health care. According to the Becker’s Hospital Review, over 150 hospitals have furloughed workers as of April 21 due to low numbers of patients, and we expect more… Read More »
Common Bankruptcy Questions
As a leading bankruptcy firm in South Florida, we regularly field questions from members of the public. The ongoing coronavirus pandemic has certainly strained the resources of many people, and we have seen an uptick in people contacting us. Below, we highlight some of the most common questions we have received. I Lost My… Read More »
Bankruptcy Filings Jump for March 2020
Data from the American Bankruptcy Institute (ABI) shows that the number of bankruptcy filings increased substantially across the United States in March 2020, the first month of the COVID-19 shutdown. These fillings took place against a backdrop of massive job loss, business closures, and economic distress. According to ABI, the number of filings in… Read More »
Americans Are Carrying Record Amounts of Consumer Debt
record amount of debt. That’s the news from a New York Federal Reserve report, as relayed by Business Insider. According to statistics, the amount of household debt rose to $14.3 trillion by the end of March 2020. This represented a 1.1% increase over the previous quarter and stands as a record amount in the… Read More »
Should You File Bankruptcy with Your Spouse?
Marriage is more than a romantic partnership. It is an economic union as well. Many couples own considerable amounts of property together, but they also can have large joint debts. At our law firm, we hear all the time from men and women who want to file for bankruptcy but don’t know whether they… Read More »
The COVID-19 Pandemic Forces Some Companies into Bankruptcy
Bankruptcy lawyers have been expecting a wave of filings due to the COVID-19 pandemic. According to media reports, that wave is beginning to hit shore. The business press has reported that many prominent companies have recently filed for Chapter 11 protection due to financial distress from the coronavirus pandemic. Although Chapter 11 allows these… Read More »
Should You Apply for a Credit Card During the COVID-19 Pandemic?
Now might seem like an odd time to be applying for a credit card. After all, no one really knows when things will get back to normal. Right now, tens of millions of people are out of work and the economy is shrinking. Even those who are employed must be feeling vulnerable to layoffs…. Read More »
How the Federal Bankruptcy Courts are Responding to COVID-19
The COVID-19 pandemic has crashed the economy harder than even the bursting of the housing bubble did a decade ago. Over 17 million people in the United States have filed for unemployment in the past few weeks, which means they are probably feeling substantial financial distress. And small businesses have been hammered by stay-at-home… Read More »
Will Congress Broaden Bankruptcy Protections for Consumers and Businesses?
The ongoing coronavirus pandemic has dramatically changed life for all people in Florida. Not only have many businesses been shuttered, but people have either lost their jobs or been furloughed. Across the nation, there has been an unprecedented economic contraction, with millions of people now unemployed. Bankruptcy has long served as a safety valve… Read More »
Will AMC Theatres File for Bankruptcy?
One result of the recent virus pandemic is that fewer people are congregating in public. In most states, Governors have issued stay-at-home orders that limit what activities people can engage in. Even in places without these orders, people are sensibly practicing social distancing. The pandemic has hit movie theaters hard. AMC is one of… Read More »