As bankruptcy lawyers, we help folks find a way out of crushing debt. But a bigger part of what we do is help them plan for the future. The American Rescue Plan offers a generational opportunity to do that.
When reading through the feeds of Facebook, Twitter, and the like, much of what we see is opinion. Everyone has one. But we keep seeing a few things that pique our interest, and as they’re ideas and theories that are in our field, we take a deeper look.
The number of personal bankruptcies has fallen during the pandemic. But temporary relief, unemployment, and various stimulus efforts will only carry you for so long.
The phone rings, and even though it’s a number you don’t recognize, you answer it. On the other end is someone from the government. You can tell, because they tell you so, and they sound very official. But who is it, really?
For many businesses bankruptcy is a chance to financially straighten things out. What bothers us is how many of our clients look at bankruptcy with a feeling of guilt.
Most of the folks that we’ve helped have found themselves in troublesome debt through no fault of their own. A nationwide pandemic that caused you to lose your job is no different, and not something that you can control.
We ran across an article in the New York Times that suggested we may be in store for a raft of business bankruptcies, even as more businesses move to reopen. For people like our clients, there are a host of ways these coming bankruptcies could have an impact.
If it seems as if there is no path for you to recover your losses from the coronavirus, bankruptcy may relieve that pressure. You’ve made the painful decision to shutter your small business, and think, “I’ll declare the business bankrupt, and then I’ll be fine.”
Whether in a time of national crisis, or in the middle of your own financial struggles, understanding and solving debt issues often comes down to one thing: Calling someone and asking for help.
You’re likely at home, like us, and finding the latest news. You’re also likely learning what sorts of financial relief are available.
If you’re like us, you’re stuck at home. It’s April, and we’re feeling the pinch imposed by coronavirus. If you’re like the folks we know around town, you may also have just found yourself suddenly unemployed.
We wrote a few weeks back about the impact of student debt on consumers. Most borrowers were 18-39, the fastest growing segment of people struggling with student debt were those over 60.
If you need financial advice, please take advantage of a free consultation with one of our attorneys.