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Jim Shenwick, Esq 917 363 3391 [email protected]

 Yahoo Finance is reporting that "Repeat Bankruptcies Are Piling Up at Fastest Rate Since 2009".  The article can be found at 
https://finance.yahoo.com/news/repeat-bankruptcies-piling-fastest-rate-183531003.html?guccounter=1

Jim Shenwick, Esq  [email protected]   917 363 3391We held individuals & companies with too much debt!

Offers In Compromise ("OIC") for Defaulted SBA EIDL loans and Section 108 of the Internal Revenue Code ("IRC"), Relief of Indebted  Income, a Trap for the Unwary!Many clients contact Jim Shenwick, Esq regarding assistance with their defaulted SBA EIDL loans and ask that we assist them with filing an OIC with the SBA.BACKGROUNDBy way of background, if an individual or a company borrows money from the SBA and is unable to repay their loan, one option is to file an OIC with the SBA, requesting that they be allowed to pay only

Bankruptcy Means Test Inflation Adjustment for Family of Two Goes the Wrong Way Budgeting food and clothes in the bankruptcy court for a family of two just got harder. According to the Justice Department (who gets them from the IRS, who gets them from the Bureau of Labor Statistics), the average cost of food, clothing […]

Bankruptcy Means Test Inflation Adjustment for Family of Two Goes the Wrong Way Budgeting food and clothes in the bankruptcy court for a family of two just got harder. According to the Justice Department (who gets them from the IRS, who gets them from the Bureau of Labor Statistics), the average cost of food, clothing […]

June 24, 2020

CNBC

Key Points

 Above the Law blog had an article written by Jordan Rothman titled "People Love to Threaten Bankruptcy During Litigation", the article can be found at https://abovethelaw.com/2023/03/people-love-to-threaten-bankruptcy-durin....Jordan is correct in that many defendants in litigation threaten bankruptcy to obtain a favorable settlement.

Weight Loss Brand Jenny Craig Files for Bankruptcy, Shuts Down Bloomberg is reporting that Jenny Craig files for Bankruptcy last week and is shutting down. People and companies that are owed money should file a Proof of Claim & landlord's should expect that their leases with Jenny Craig will be rejected. Individuals or companies having questions about the Jenny Craig bankruptcy filing should contact Jim Shenwick, Esq 917 363 3391  [email protected]We help companies & individuals with too much debt!

 The SBA has announced a "Hardship Accommodation Plan" for EIDL loan borrowers.New Relief Program for SBA EIDL Borrowers Who are Having Difficulty Repaying EIDL Loans " Hardship Accommodation Plan"If approved, the Hardship Accommodation Plan will reduce the borrower’s payment to 10% of their monthly payment for six months, after which their regular monthly payment will resume unless they apply for, and receive, another six-month extension.Loans under $200,000 can enroll in a hardship accommodation plan through their MySBA Loan Portal.

 
With consumer debt at an all-time high, a financial planner explains who should consider bankruptcy Business Insider

The article can be found at the Business Insider at https://www.businessinsider.com/personal-finance/decide-bankruptcy-makes-sense-financial-planner-2023-4

Jim Shenwick Esq  917 363 3391  [email protected]