Financial decisions are often some of the most difficult to make. Not only are you taking your own well-being into your hands, but also your family’s future. Those in debt often contemplate whether or not to file for bankruptcy as a way to regain their financial footing. Those considering bankruptcy in Philadelphia may ponder is a bankruptcy really worth the
Personal bankruptcy enables filers to wipe their financial slates clean when they are overwhelmed by debt and unable to pay their bills. For consumers struggling with debt, filing for bankruptcy can prevent creditors from foreclosing on or repossessing property, garnishing wages, or shutting off utility services. For small business owners, bankruptcy can discharge business debt to allow entrepreneurs the ability
COVID-19 dealt a financial blow to small businesses unlike anything we have seen before. Stay at home orders forced businesses already operating on thin profit margins to shut their doors and implement drastic changes to their business models in order to comply with new social distancing requirements. A survey by SMB Group found that 75% of all small business report
The number of bankruptcies in the United States, both for businesses and individuals has decreased steadily since the Great Recession of 2008-09. According to the American Bankruptcy Institute, the last business bankruptcy peak was in 2009 when 60,837 business-related bankruptcy cases were filed. By 2018 that number had decreased by nearly two-thirds to 22,232 cases. The COVID- 19 virus will
The United States Bankruptcy Appellate Panel for the Eighth Circuit recently provided guidance regarding the proper analysis and valuation of a personal property lessor’s administrative expense claim in a Chapter 11 bankruptcy proceeding in a case of first impression in Minnesota. Attorneys representing debtors and creditors alike should take note as the decision establishes a timetable with significant evidentiary and
Financial decisions are often some of the most difficult to make. Not only are you taking your own well-being into your hands, but also your family’s future. Those in debt often contemplate whether or not to file for bankruptcy as a way to regain their financial footing. Those considering bankruptcy in Philadelphia may ponder is a bankruptcy really worth the
Personal bankruptcy enables filers to wipe their financial slates clean when they are overwhelmed by debt and unable to pay their bills. For consumers struggling with debt, filing for bankruptcy can prevent creditors from foreclosing on or repossessing property, garnishing wages, or shutting off utility services. For small business owners, bankruptcy can discharge business debt to allow entrepreneurs the ability
COVID-19 dealt a financial blow to small businesses unlike anything we have seen before. Stay at home orders forced businesses already operating on thin profit margins to shut their doors and implement drastic changes to their business models in order to comply with new social distancing requirements. A survey by SMB Group found that 75% of all small business report
The number of bankruptcies in the United States, both for businesses and individuals has decreased steadily since the Great Recession of 2008-09. According to the American Bankruptcy Institute, the last business bankruptcy peak was in 2009 when 60,837 business-related bankruptcy cases were filed. By 2018 that number had decreased by nearly two-thirds to 22,232 cases. The COVID- 19 virus will
The United States Bankruptcy Appellate Panel for the Eighth Circuit recently provided guidance regarding the proper analysis and valuation of a personal property lessor’s administrative expense claim in a Chapter 11 bankruptcy proceeding in a case of first impression in Minnesota. Attorneys representing debtors and creditors alike should take note as the decision establishes a timetable with significant evidentiary and
