Category Archives: Bankruptcy
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 »
Should You Use Your Stimulus Check to Pay Down Debt
Congress recently passed a $2 trillion stimulus bill that provides money to city and state governments, as well as loans and grants to businesses. The law also requires that the Treasury cut a $1,200 check to adults who make less than $75,000 ($150,000 combined for married couples). Those earning more should receive smaller checks,… Read More »
Medical Bankruptcy from a Coronavirus Infection
The novel coronavirus behind the current pandemic affects people in different ways. Some, like actor Tom Hanks, report only feeling tired. Others end up in the hospital on a ventilator and stay there for weeks before being discharged. Though the fatality rate is still relatively low (around 2%), many people can survive only after… Read More »
Uber Executive Files for Bankruptcy
Bankruptcy is not only for the working- and middle-classes. Instead, almost anyone can find themselves under so much financial distress that filing for bankruptcy protection is the sensible option. Sometimes even the very rich need to file. Yahoo Finance has the story of an Uber executive that recently filed for bankruptcy after being ordered… Read More »
Credit Counseling Scams: What to Watch For
Credit counseling has helped millions of Americans get on top of their debts. Credit counseling is also a requirement before you can file for bankruptcy protection in court. However, credit counseling scams are rampant in the marketplace. Many counselors make claims that they can’t back up, but which sound impressive. Who wouldn’t want to… Read More »
Joe Biden Changes Tune on Student Loan Discharge
As a Senator from Delaware, Joe Biden was a huge supporter of the financial services industry. In this capacity, he helped lead the charge to changes in the bankruptcy laws back during the George W. Bush presidency. Now that he is running for President against Bernie Sanders, Biden has begun to change his tune… Read More »
Coronavirus & Your Debt
The recent explosion of the novel coronavirus, called COVID-19, has completely upended normal life. From coast to coast, cities and states are issuing orders for bars and restaurants to close. Universities and public schools are shutting down, sending students home for the remainder of the year. This is a scary time. It is also… Read More »
Which Industries Are Most at Risk During the Coronavirus Pandemic?
If the stock market is any indication of the health of the economy, the United States is on the precipice of a major downturn. The recent coronavirus pandemic has led many state and local governments to impose restrictions on their residents and local businesses. Many people are sheltering in place and only going outside… Read More »