When filing for personal bankruptcy, it can sometimes be difficult to determine which bankruptcy chapter is the right one for you. Many factors are at play when making this decision, but the first priority for anyone considering either is to learn more about bankruptcy itself. While there are technically more than two types of personal+ Read More

In a recent blog post we discussed EIDL LOAN WORKOUTS AND BANKRUPTCY http://shenwick.blogspot.com/2022/07/eidl-loan-workouts-and-bankruptcy.html In this post we will discuss EIDL Loans and the SBA Offer in Compromise program (“OIC”).  An offer in compromise is an offer by the borrower to pay less than the amount that is owed on the SBA loan, in consideration for the SBA considering the loan satisfied.

Want to avoid dishonest debt collectors?  Watch this video from FTC’s Consumer Advice

By Joseph Ferrari,July 22, 2022 (reprint from FTC, Consumer Alerts)

 EIDL LOAN WORKOUTS AND BANKRUPTCY Recently we have received many telephone calls and emails from clients regarding their default under EIDL Loans and EIDL Grants, from the SBA or related banks and their options with respect to those defaults.In the way of background, EIDL (Economic Injury Disaster Loans) and EIDL Grants were provided to small businesses to help them recover from the COVID-19 pandemic. EIDL loans were supposed to  used for working capital and operating expenses.     EIDL loans are not forgivable and must be repaid.EIDL Grants do not need to be repaid.The maximum for EIDL Lo

 As many readers over blog posts are aware, at Shenwick & Associates we practice personal and business bankruptcy law and workouts. With respect to our personal bankruptcy practice, we do not have a volume practice and we are generally referred more complex personal bankruptcy filings, rather than the run-of-the-mill filings, which we also do.Recently, a client contacted us and wanted a second opinion regarding his personal bankruptcy filing.

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This article from TDPel Media will be helpful to many clients (and some attorneys) titled 10 Tips On How To Avoid Legal IssuesThe article can be found at https://tdpelmedia.com/10-tips-on-how-to-avoid-legal-issues
Jim Shenwick, Esq. [email protected] [email protected]

" I needed to file bankruptcy which was a very difficult and stressful decision. I never wanted to get to the point of having to file chapter 7, but I knew in order to have a fresh start it was the only way out. I spoke with several attorneys, most said I could only file chapter 13. I was single, no kids, and employed; my career and lifestyle were getting better but the debt was still substantial and I couldn't save any money. I felt overwhelmed thinking I had to figure out how to pay off the debt. James was the only attorney that firmly said you need to file for chapter 7.

We knock out Dyck-O’Neal, Save Lonnie’s Clearance and his Family Home Place Lonnie was about to lose his federal job. His clearance review showed he owed Dyck-O’Neal $127,153 from a foreclosure deficiency. He needed to take care of that. Or he’ll lose his clearance and his job. Obviously he didn’t have $127,153.  And when we […]

We knock out Dyck-O’Neal, Save Lonnie’s Clearance and his Family Home Place Lonnie was about to lose his federal job. His clearance review showed he owed Dyck-O’Neal $127,153 from a foreclosure deficiency. He needed to take care of that. Or he’ll lose his clearance and his job. Obviously he didn’t have $127,153.  And when we […]