The Covid-19 Pandemic and its effect on Leiden & Leiden
As the anniversary of the Covid pandemic’s arrival in the United States approaches, our firm and its staff met to discuss the effects that it has had on our practice. Specifically, we discussed how office business was conducted, and the changes in the manner of our practice due to government restrictions and conscientious health safety […]
ASSETS THAT MANY PEOPLE DON’T REALIZE THAT YOU CAN PROTECT IN A BANKRUPTCY CASE
When a bankruptcy petition is filed, the debtor is required to identify and disclose all of their assets. This includes physical assets such as real estate, automobiles, and personal property. However, it also includes many intangible assets such as retirement plans, IRAs, claims for money or damages, insurance policies, and many other non—physical assets. One […]
CONSIDERING BANKRUPTCY AND RECEIVING AN INCOME TAX REFUND? SUGGESTIONS FOR POTENTIAL BANKRUPTCY FILERS
As the economic effects of the Covid-19 pandemic continue to ripple across our economy, more and more consumers will face the prospect of a bankruptcy filing. While the long-awaited vaccine gives hope for many consumers, it also means that many lenders and creditors will resume their normal collection activity, including foreclosures, repossessions and garnishments. As […]
THE PERSONAL COSTS OF COVID-19
Covid-19 and its effects on our national, regional and local economies are both well – documented and ongoing. Businesses both large and small have suffered financial distress due to limitations on how their operations were conducted, and decreased income due to consumer fears. Many of those businesses never recovered, and a portion of those sought […]
Covid Update – Why Consumer Bankruptcy Filings Have Decreased Since March 2020
Decrease in Bankruptcy Filings In the five months since “Covid” and the “Coronavirus” have become household words, the American economy experienced more turbulence than at any time since the Great Recession. Business bankruptcies for small, medium, and even multinational corporations have spiked considerably since March 2020. Many of these businesses, especially in the retail industry, […]
Dealing with the Post Mortgage Moratorium Shock
In response to the coronavirus threat, many local and state governments enacted restrictions which prevented some businesses/industries from operating entirely, while other businesses could still operate at a reduced workload. Realizing that many homeowners would have little or no income with which to make their mortgage payments, many mortgage lenders offered their borrowers a moratorium […]
Signs that Your Small Business Might Be Headed for Bankruptcy
Small business owners are traditionally more reluctant than most to consider bankruptcy. Understandably, their business is not just a source of income, but usually represents a considerable investment in personal time, money and resources.[1] As a result, small business owners are most likely to ignore the warning signs that their business is struggling. The economic […]
Mortgage Fraud During & After COVID-19
One of the biggest concerns facing our economy during the pandemic is homeowners’ ability to manage their mortgage payments with reduced, or no income. In the previous recession over a decade ago, many American consumers struggled with the same problem. At that time, the federal government, as well as private lenders, instituted multiple programs which […]
The COVID-19 Pandemic: What to Do and Not to Do for Consumers
The present coronavirus pandemic is unlike anything that most of us have seen in our lifetimes. Setting aside the medical issues and health risks associated with this fast spreading disease, there will be economic and financial consequences for years to come. This uncertainty can be very unnerving, especially for those employed in what the various […]
Spreading The Blame For The Student Loan Crisis
Student loan debt has become a familiar topic of conversation in the upcoming presidential election. However, this has also been a frequent topic in previous elections, with many promises being made, but eventually left undelivered. Student loan debt in this country exceeds both the accumulated amount of automobile finance debt and even exceeds the […]