The Small Business Reorganization Act (SBRA) was signed into law on August 23rd, 2019, and went into effect on February 19, 2020. For small businesses struggling with debts, this act could help them file for bankruptcy relief without the loss of their business in liquidation and without having to incur the extreme costs of a
Since the end of March and the height of the coronavirus shutdowns, small businesses and beyond have struggled to stay afloat. The benefits of stimulus packages and federal loans have helped many individuals and businesses keep their heads above water and even make a profit during months of decreased income. Unfortunately, most of the effects
For individuals in the position to file for bankruptcy, there are two common options available: Chapter 7 or Chapter 13 bankruptcy. Chapter 7 works to liquidate your non-exempt assets in exchange for the discharge of your debts. This process is most common for filers without a steady income and the loss of non-exempt property does
If you are struggling financially, there are many options available to you for debt relief. While some households might benefit from negotiating wiggle room with their creditors, it’s more likely that people with debts they can’t pay will find long-term, permanent debt relief in bankruptcy. Depending on your financial circumstances, you can file for liquidation
If you are in a difficult financial situation that will benefit greatly from a bankruptcy case, you have two primary potential options as an individual consumer. Depending on your financial circumstances, you can either file for Chapter 7 or Chapter 13 bankruptcy. For those with a debt-to-income ratios higher than the state median or average
Even for those with excellent health insurance, mounting medical bills can put a serious strain on finances. During this time especially, with the threat of COVID-19, many U.S. citizens fear a serious medical bill might cause a loss of financial stability. In fact, a recent survey showed that about half of Americans felt a serious
As the future of potential stimulus bills is still undecided, households across the United States are keeping a close eye on their finances. For some, a stimulus check may mean the difference between making a rent payment or being evicted. Not only do proposed stimulus bills offer a second check, they also extend several aspects
For many reasons, farmers across the United States frequently struggle financially. Not only is it difficult, especially given our country’s current economic difficulties, to generate a profit from a family-owned farm, but also American farms often incur much debt from the purchase of equipment and the payment of property taxes. Fortunately, the government is aware
Many people have been struggling financially during 2020 because of the countless destructive economic impacts of the coronavirus pandemic. Even those with a stable income may be finding it difficult to meet debt payments each month. If your finances are out of balance, no matter the cause, you always have the option to file
Because the United States is currently in a financial crisis due to the economic shutdowns taking place during the coronavirus pandemic, many people are now struggling to meet monthly debt payments. If you are among the many individuals fighting against debt and unstable finances, you may need to take positive action for debt relief. One
