Articles from Shenwick & Associates

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SBA Charge Off of SBA EIDL Loans

Submitted by Anonymous (not verified) on Sun, 02/18/2024 - 06:07

SBA EIDL Loan Charge Offs

Submitted by Anonymous (not verified) on Mon, 02/12/2024 - 18:28

The debanked website is reporting that Covid SBA EIDL loan charge offs increased by $52 Billion in 2023.   Those charge offs equal 17.2% of the unpaid principal balance of SBA outstanding EIDL loans. The story can be found at https://debanked.com/2024/02/covid-eidl-charge-offs-explode-increase-by-more-than-51-billion-in-fy-2023/This report is unsurprising, as a rough estimate indicates that 75 to 80% of our clients have defaulted or are considering defaulting

Credit card debt increases by $50B to new record high

Submitted by Anonymous (not verified) on Thu, 02/08/2024 - 21:55

 The Hill is reporting that credit card debt in the United States increased by $50 billion in the fourth quarter of 2023, according to recent findings from the New York Federal Reserve. 
Will this increase in credit card debt result in more personal bankruptcy filings?
The story can be found at https://thehill.com/business/4451222-credit-card-debt-increased-by-50b-new-record-high/

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