Articles from Shenwick & Associates

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New Relief Program for SBA EIDL Borrowers Who are Having Difficulty Repaying EIDL Loans " Hardship Accommodation Plan"

Submitted by Anonymous (not verified) on Fri, 05/05/2023 - 18:19

 The SBA has announced a "Hardship Accommodation Plan" for EIDL loan borrowers.New Relief Program for SBA EIDL Borrowers Who are Having Difficulty Repaying EIDL Loans " Hardship Accommodation Plan"If approved, the Hardship Accommodation Plan will reduce the borrower’s payment to 10% of their monthly payment for six months, after which their regular monthly payment will resume unless they apply for, and receive, another six-month extension.Loans under $200,000 can enroll in a hardship accommodation plan through their MySBA Loan Portal.

With consumer debt at an all-time high, a financial planner explains who should consider bankruptcy Business Insider article

Submitted by Anonymous (not verified) on Fri, 05/05/2023 - 00:47

 
With consumer debt at an all-time high, a financial planner explains who should consider bankruptcy Business Insider

The article can be found at the Business Insider at https://www.businessinsider.com/personal-finance/decide-bankruptcy-makes-sense-financial-planner-2023-4

Jim Shenwick Esq  917 363 3391  [email protected]

Commercial Chapter 11 Filings Rise 79% Y/Y in March

Submitted by Anonymous (not verified) on Wed, 04/26/2023 - 21:04

ABL Advisor's  is reporting that new Chapter 11 bankruptcy filings increased by 79% in March 2023.  The article can be found at https://www.abladvisor.com/news/36211/commercial-chapter-11-filings-rise-79-y-y-in-march
Jim Shenwick, Esq  [email protected]  917-363-3391We held individuals & businesses with too much debt!

Bed Bath & Beyond filed for Chapter 11 Bankruptcy Protection

Submitted by Anonymous (not verified) on Mon, 04/24/2023 - 17:52

 Bed Bath & Beyond ("BBB") filed for Chapter 11 Bankruptcy Protection. Individuals & businesses who are owed money by BBB should organized their business records & file a Proof of Claim when  notified by the Bankruptcy Court.Also & importantly, If a vendor delivered goods to  BBB in the 20 days before the Debtor filed bankruptcy, and those goods were delivered in the ordinary course of business, then you can get administrative claim status of the amount of the goods delivered. See 11 U.S.C.

Preferences & Chapter 7 Bankruptcy Filings

Submitted by Anonymous (not verified) on Wed, 04/19/2023 - 19:50

PLEASE NOTE THAT EFFECTIVE IMMEDIATELY, PLEASE USE 917 363 3391 TO CONTACT JIM SHENWICK, ESQ.
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Can you get a small business loan after bankruptcy?

Submitted by Anonymous (not verified) on Wed, 04/19/2023 - 18:24

 Bankrate has a very interesting and informative article about whether a small business can get a small business loan after bankruptcy? The article states that getting a small business loan after going through bankruptcy is possible, but it can be a challenge. At Shenwick & Associates we have found that individuals can obtain credit 6 months to 1.5 years after filing for personal bankruptcy and approximately 2 years for businesses.

Small businesses are filing for bankruptcy at a higher rate than at the peak of the pandemic - and a looming credit crunch could make things worse

Submitted by Anonymous (not verified) on Mon, 04/10/2023 - 23:44

 Yahoo Finance is reporting that Small businesses are filing for bankruptcy at a higher rate than at the peak of the pandemic - and a looming credit crunch could make things worse

Rising number of Americans choose bankruptcy to deal with unmanageable debt: report

Submitted by Anonymous (not verified) on Tue, 04/04/2023 - 19:28

A Fox 13 Report states that  "A growing number of Americans, still reeling from the financial strain of the COVID-19 pandemic, are no longer benefiting from government relief efforts and are increasingly choosing bankruptcy to deal with unmanageable debt, according to a recent American Bankruptcy Institute (ABI)"The article can be found at  https://www.q13fox.com/news/more-americans-choose-bankruptcy-debt-report

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