Submitted by Anonymous (not verified) on Sun, 06/28/2020 - 15:06
June 25, 2020 Forbes
There are increasingly urgent signs that an unprecedented wave of student loan defaults could be arriving within a matter of months. A cratering economy and expanding pandemic are about to collide with the expiration of critical temporary student loan relief programs, and the end result could be catastrophic.
Submitted by Anonymous (not verified) on Fri, 06/26/2020 - 00:46
…But the Car Still Has to Pay. When you file Chapter 7 bankruptcy, that means you don’t have to make the car payments. But that does not mean you get a free car. You don’t have to make the car payments, but the car still has to pay. That’s because the car finance company is […]
Submitted by Anonymous (not verified) on Fri, 06/26/2020 - 00:46
…But the Car Still Has to Pay. When you file Chapter 7 bankruptcy, that means you don’t have to make the car payments. But that does not mean you get a free car. You don’t have to make the car payments, but the car still has to pay. That’s because the car finance company is […]
Submitted by Anonymous (not verified) on Fri, 06/26/2020 - 00:46
…But the Car Still Has to Pay. When you file Chapter 7 bankruptcy, that means you don’t have to make the car payments. But that does not mean you get a free car. You don’t have to make the car payments, but the car still has to pay. That’s because the car finance company is […]
Submitted by Anonymous (not verified) on Thu, 06/25/2020 - 16:45
The federal government has finally offered some clarity on how mom-and-pop businesses can avoid repaying their bailout loan—a major sticking point in the Paycheck Protection Program.
In the past month officials in the Small Business Administration and the Treasury Department have worked with Congress to make much-demanded changes to the law, which culminated in the PPP Flexibility Act signed by President Donald Trump on June 5.
Submitted by Anonymous (not verified) on Thu, 06/25/2020 - 04:58
June 3, 2020 International Business Times By Amy Fontinelle
Declaring bankruptcy is never pleasant, but for small businesses it's often been disastrous. Filing under chapter 11 -- the method that allows a firm to re-organize -- was designed for large corporations. Technically, a small firm could do it, but the process was lengthy, costly, and creditor-friendly. As a result, insolvent small businesses often had to file for chapter 7, which meant closing shop entirely.
Submitted by Anonymous (not verified) on Thu, 06/25/2020 - 04:50
June 12, 2020 NY Post
A large number of small US business could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world’s largest economy.
Submitted by Anonymous (not verified) on Thu, 06/25/2020 - 04:46
June 22, 2020 NY Post by: Priscilla DeGregory
Fashion brand Valentino wants to break the lease on its chic Fifth Avenue location — because the coronavirus is stopping it from conducting “high-end” business, a new lawsuit says.
Submitted by Anonymous (not verified) on Thu, 06/25/2020 - 04:39
June 17, 2020 bloomberglaw.com
Retailers hit by the economic downturn are considering bankruptcy protections. Perkins Coie LLP attorneys say the CARES Act offers small businesses access to the streamlined Subchapter 5 process and recent rulings from bankruptcy courts provide cash flow relief for certain retailers operating under Chapter 11 through deferral of rent obligations, at least for now.