CHANGES TO THE BANKRUPTCY CODE PROVIDES TIMELY RELIEF TO SMALL BUSINESSES Small businesses are the driver behind the Hudson Valley economy, but many are struggling to survive during the current Covid-19 pandemic. A recent US Chamber of Commerce poll showed that half of small businesses only have enough cash on hand to survive for one…
PRO’S AND CON’S OF BANKRUPTCY CHAPTER 7 DURING COVID-19 With many families already struggling to pay their bills, the Coronavirus pandemic is likely to result in a record high number of bankruptcy filings[1]. Even with direct payments from the federal government, a lot of people will be forced to borrow heavily from credit cards to…
PRO’S AND CON’S OF FILING CHAPTER 7 BANKRUPTCY Chapter 7 is the most commonly filed bankruptcy proceeding due to the fact that many people are drowning in credit card debt, medical bills and/or personal loans just to name a few. Robbing Peter to pay Paul has left both Peter and Paul broke. There are numerous…
