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

 More than 800,000 borrowers are still eligible to benefit from student loan forgiveness according to NPR. The story can be found at https://www.npr.org/2023/07/15/1187929868/more-than-800-000-borrowers-are-still-eligible-to-benefit-from-student-loan-forg

By Law Offices of David M. Siegel Bankruptcy Attorney Chicago Feeling like you’re sinking in a sea of debt, juggling bills, and losing sleep over your financial situation? It might be time to consider seeking help from a local bankruptcy attorney. Here are five signs that it’s time to take action. Skyrocketing Credit Card Balance+ Click Here For Read More

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 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/

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

 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 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.

 Biden's Plan B on student loan forgiveness relies on Higher Education Act: What to knowSee article at https://abc7chicago.com/joe-biden-student-loan-forgiveness-plan-higher-e...
Jim Shenwick, Esq  917 363 3391  [email protected] 
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 Commercial Chapter 11 Filings Increased 68% Y/Y in the First Half of 2023 see the article at https://www.monitordaily.com/news-posts/commercial-chapter-11-filings-in...