Reduced consumer traffic has many retailers, restaurants and other small businesses considering bankruptcy protection as they try to ride out the Covid-19 storm. A Chapter 11 bankruptcy allows business to reorganize their affairs, debts and assets providing needed time to rebound following the unprecedented impact many have experienced as a result of the pandemic. Although a number of businesses have filed for bankruptcy protection, the total number of business bankruptcies is actually … [Read more...]
Archives for September 2020
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Accumulating Medical Debt
Many Americans worry that an unforeseen health crisis could result in financial ruin. In fact, over 50 percent of Americans fear that a major medical issue could lead to bankruptcy according to a recent Gallup poll. The pandemic has only heightened concerns, as more men and women contemplate what would happen if they ever face a costly medical emergency. Fifteen percent of Americans surveyed said they know at least one family member struggling with medical debt, with no clear resolution in … [Read more...]
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