Articles from Shenwick & Associates

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Teamsters says U.S. trucking firm Yellow shuts operations, to file for Bankruptcy

Submitted by Anonymous (not verified) on Tue, 08/01/2023 - 22:11

Teamsters says U.S. trucking firm Yellow shuts operations, to file for Bankruptcy.  The article can be found at https://www.cnbc.com/2023/07/31/teamsters-says-us-trucking-firm-yellow-s...

'I feel abandoned' — businesses warn of bankruptcy as deadline to pay back COVID loans looms

Submitted by Anonymous (not verified) on Fri, 07/28/2023 - 21:06

 'I feel abandoned' — businesses warn of bankruptcy as deadline to pay back COVID loans looms
Nearly 250,000 small businesses who received CEBA loans are in danger of shutting down, says CFIB
The article can be found at:
https://financialpost.com/news/economy/businesses-fear-bankruptcy-ceba-deadline-looms
Jim Shenwick, Esq  917 363 3391  [email protected] 

IRS will stop showing up at homes unannounced in effort to protect agents, combat scammers

Submitted by Anonymous (not verified) on Tue, 07/25/2023 - 20:16

 The New York Post is reporting that IRS will stop showing up at homes unannounced in
effort to protect agents, combat scammers.The article can be found at https://nypost.com/2023/07/24/irs-ending-policy-of-unannounced-home-visits-by-agents?utm_source=gmail&utm_campaign=android_nyp

A $500 Billion Corporate-Debt Storm Builds Over Global Economy Yahoo Finance

Submitted by Anonymous (not verified) on Thu, 07/20/2023 - 18:08

Yahoo Finance published an article discussing the potential default of $500 billion in corporate debt. The article indicates that large corporate bankruptcies are accumulating at the second-fastest rate since 2008, surpassed only by the initial phase of the pandemic. The article can be found at https://uk.finance.yahoo.com/news/500-billion-corporate-debt-storm-230005895.html?guccounter=1

5 Common Causes of Small Business Bankruptcy from RBC Royal Bank

Submitted by Anonymous (not verified) on Fri, 07/14/2023 - 18:04

RBC Royal Bank has an article about the "5 Common Causes of Small Business Bankruptcy " The article can be found at https://discover.rbcroyalbank.com/5-common-causes-of-small-business-bankruptcy/

Business Bankruptcies Pick Up Again

Submitted by Anonymous (not verified) on Wed, 07/12/2023 - 20:53

Business Bankruptcies Pick Up AgainCFO Drive is reporting that Business Bankruptcies have increased. The story can be found at https://www.cfodive.com/news/business-bankruptcies-pick-up-again/686049/

SBA EIDL HARDSHIP PROGRAM

Submitted by Anonymous (not verified) on Tue, 07/11/2023 - 22:02

The SBA is offering a Hardship Plan for borrowers experiencing  financial challenges.Eligible borrowers are required to pay at least 10% of their monthly payment amount for six months. Interest will continue to accrue, which may increase payments due at the end of the loan term.Regular monthly payments  will be required after the six-month Hardship Program  period ends. Borrowers may be able to renew the Hardship Accommodation Plan after six months. The SBA Hardship Plan does not reduce the amount of money due the SBA for the EIDL loan, so at best the Hardship Plan is a temporary solution.F

Index of Jim Shenwick, Esq Articles on Defaulted SBA EIDL Loans, Workouts, Offer in Compromise (OIC), & Bankruptcy

Submitted by Anonymous (not verified) on Sun, 07/09/2023 - 18:16

 Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue Codehttps://shenwick.blogspot.com/2023/07/defaulted-sba-eidl-loans-limited.html

Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue Code

Submitted by Anonymous (not verified) on Sun, 07/09/2023 - 05:52

 Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue CodeAs many readers of our emails and blog posts know, Shenwick & Associates  has developed a specialty helping borrowers, who have defaulted on SBA EDIL loans.

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