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 […]
Ten Mistakes Financially Stable Consumers Make Which Can Lead to Bankruptcy
The common misconception of the debtor in bankruptcy is an individual who was reckless in borrowing, and irresponsible in paying back their debts. While mismanagement and over-extension are present as causes in some bankruptcy cases, even the most well-intentioned consumers who have built up their credit and amassed a tidy savings can still wind up […]
Why Your Credit History is Important to Potential Employers
As hiring has evolved, potential employers are reviewing much more information in deciding whether or not to hire prospective employees. Potential employers are no longer content to review a resume, and contact references. They will also review social media history, social/club affiliations, and credit history. Why is credit history important to a prospective employer? There […]
The HAVEN Act and its Implication in Bankruptcy
On August 23, 2019, president Trump signed the “Honoring American Veterans in Extreme Need” act of 2019. The passage of this act fixed a loophole in the 2005 Bankruptcy Code which shielded Social Security income and other income received under the Social Security Act from creditors in bankruptcy proceedings. Under the 2005 Bankruptcy Reform, disability […]
BANKRUPTCY BY THE NUMBERS: FILINGS BY ZIP CODE
The fundamental causes of financial distress are virtually immune to a person’s place and life. Divorce, health issues, and unemployment can affect anybody at any time. No wage or income class is exempt from these problems, regardless of how well prepared those individuals may be. With this in mind, our firm has analyzed certain trends […]
ELDER ABUSE AND INTIMIDATION IS ON THE RISE, AND CAN LEAD TO BANKRUPTCY
Our firm has been meeting with more and more elderly or retired individuals who are experiencing financial difficulty due to the actions of family, friends, or hired caregivers. Many individuals who are retired, disabled, or on a source of fixed income rely upon others to assist with matters such as healthcare, errands, and home maintenance. […]
FINANCIAL TRENDS TO BE WORRIED ABOUT IN 2019
While the economy appears to be in good shape, our firm has noticed some disturbing financial trends that are similar in nature to those trends that led to the last recession. While mortgage lending is much more conservative than it was in the early 2000’s, other areas of credit use are exhibiting similar patterns to […]