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What is Bankruptcy? Bankruptcy is a legal process that allows an individual or business that is unable to pay its debts to either restructure or eliminate those debts. The bankruptcy process is governed by federal law, and is administered by the courts through a bankruptcy trustee. Types of Bankruptcy There are several different types of […]
Bankruptcy Exemptions Bankruptcy exemptions are legal provisions that allow a person to keep certain assets when they file for bankruptcy. These exemptions vary from state to state and can also be affected by federal law. In the United States, bankruptcy is a legal process that allows individuals or businesses to eliminate or repay their debts. […]
Happy Holiday and a Happy and Healthy New Year to all!This year, we received many referrals from friends and colleagues.At Shenwick & Associates, we have been very busy counseling clients with regard to defaulted SBA EIDL loans, advising clients who want to vacate their leased property in Manhattan, and dealing with Good Guy Guaranty issues.Personal bankruptcy filings have increased and we expect more personal bankruptcy filings in 2023 due to the new procedures in place for discharging student loans in chapter 7 bankruptcy, due to “hardship”.
Jim Shenwick
Happy Holiday and a Happy and Healthy New Year to all!This year, we received many referrals from friends and colleagues.At Shenwick & Associates, we have been very busy counseling clients with regard to defaulted SBA EIDL loans, advising clients who want to vacate their leased property in Manhattan, and dealing with Good Guy Guaranty issues.Personal bankruptcy filings have increased and we expect more personal bankruptcy filings in 2023 due to the new procedures in place for discharging student loans in chapter 7 bankruptcy, due to “hardship”.
Jim Shenwick
CBS News has a post titled "Already slammed by inflation, small businesses struggle to repay COVID-19 disaster loans". The post can be found at https://www.cbsnews.com/news/small-businesses-eidl-loans-repayment-infla...
This article is consistent with what we are hearing from many clients, who took out EIDL covid 19 loans and who are unable to repay them due to market factors. Jim Shenwick, Esq [email protected] 212 541 6224
CBS News has a post titled "Already slammed by inflation, small businesses struggle to repay COVID-19 disaster loans". The post can be found at https://www.cbsnews.com/news/small-businesses-eidl-loans-repayment-infla...
This article is consistent with what we are hearing from many clients, who took out EIDL covid 19 loans and who are unable to repay them due to market factors. Jim Shenwick, Esq [email protected] 212 541 6224
Many clients contact Shenwick & Associates and ask if they are liable for a spouse's debts, particularly student loans. AOL has an article titled “ Does My Spouse Have To Pay My Student Loans If I Die?” which answers that question and others. The article can be found at https://www.aol.com/finance/does-spouse-pay-student-loans-143003556.html
Jim Shenwick, Esq. 212 541 6224 [email protected]
Many clients contact Shenwick & Associates and ask if they are liable for a spouse's debts, particularly student loans. AOL has an article titled “ Does My Spouse Have To Pay My Student Loans If I Die?” which answers that question and others. The article can be found at https://www.aol.com/finance/does-spouse-pay-student-loans-143003556.html
Jim Shenwick, Esq. 212 541 6224 [email protected]
kiro 7 is reporting that "Student loan debt: 9 million wrongly told they were approved for debt forgiveness" The article can be found athttps://lnkd.in/e9iAtkkV
Jim Shenwick, Esq. 212 541 6224 [email protected]
kiro 7 is reporting that "Student loan debt: 9 million wrongly told they were approved for debt forgiveness" The article can be found athttps://lnkd.in/e9iAtkkV
Jim Shenwick, Esq. 212 541 6224 [email protected]
Updated daily, this blog will keep you informed on the latest bankruptcy news! 
Learn more about how Bankruptcy works and what you need to know.