Image by Gerd Altmann from Pixabay We are seeing the best being brought out in people from volunteer drives supporting frontline workers to individuals delivering groceries and other goods to their elderly or immunocompromised neighbors. The federal government is rolling out loan programs, and some companies are loosening restrictions on payment terms. Then there are the bad apples, who are…Read More
If you’re considering bankruptcy, one of the most important choices you’ll make is which type to file. While all forms of bankruptcy aim to provide the filer with a fresh start, each has its own limits, potential, benefits, and drawbacks. The chapters you’ll likely consider are: Chapter 7. Commonly called “liquidation bankruptcy,” Chapter 7 requires a bankruptcy trustee to liquidate…Read More
Image by Olga Lionart from Pixabay It’s hard to keep up with the latest on COVID-19 and the deluge of new and changing government assistance programs. We hear the curve is flattening in California but rising in New York. One day there’s billions of dollars available in business loans, and by the end of the week, it’s gone, only to…Read More
The events of the coronavirus have moved so fast that it’s been hard to keep up. The news of the size and scope of COVID-19 has been grim on a public and economic health level. While you are understandably worried and overwhelmed, there are financial relief options available through the Coronavirus Aid, Relief, and Economic Security Act (CARES) that you…Read More
As we noted in our COVID-19 Readiness Statement, we understand that the situation is fluid, and we continue to closely monitor updates from The Centers for Disease Control and other public health agencies to ensure safety best practices and business continuity. This means hoping for the best and preparing for the uncertain. It’s difficult to address the elephant in the…Read More
If you were struggling financially before the coronavirus hit, it may feel as though the pandemic pushed you past the point of no return. Alternatively, you may have been experiencing a dependable level of success, but an unexpected layoff or business shutdown has now crippled your income. Either way, you may be one of the millions of Americans who aren’t…Read More
Every chapter of bankruptcy has its own purpose, set of benefits, and targeted filer. Chapter 7, for example, allows both individuals and businesses to liquidate assets and discharge most of their debt. Chapter 12, on the other hand, is very rarely used, and only family farmers and fishermen may qualify. Determining which chapter to file can be one of the…Read More
In our last blog, we provided information about the CARES Act stimulus checks, potential scams, and student loans, as well as general tips for paying your bills during the COVID-19 pandemic. We will now dive into a discussion about managing debt during and after a national emergency. Bankruptcy And The CARES Act Bankruptcy is one of the most effective methods…Read More
The most urgent threat we face amidst the coronavirus pandemic is, of course, our physical health. To stay safe, we all must follow guidelines from our local, state, and federal governments, whether by washing our hands more frequently, implementing social distancing measures, or staying home as much as possible. The better we follow these guidelines, the more lives we can…Read More
If you’re considering filing bankruptcy, you’ve just begun the process, or you’re managing life after the proceeding, you may have a few questions about your taxes. Here are the answers to 5 frequently asked questions about bankruptcy, your tax return, and what you may owe the IRS. Is Cancelled Debt Taxable Income? Unfortunately, you may need to pay taxes on…Read More
