Despite stimulus payments to cover the costs of payroll for small businesses across the country, many business owners have struggled to pay rent on commercial property leading tens of thousands of small businesses into bankruptcy. Although landlords have shown some flexibility during the pandemic, it has not been enough for many businesses owners who fallen helplessly behind on rent forcing many to consider bankruptcy protection in the aftermath of Covid-19 closures. Of course, this also … [Read more...]
Archives for January 2021
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Pandemic Relief Bill Falls Short for Many
The new $900 billion Pandemic Relief Bill will include enhanced unemployment benefits and direct cash payments, which many Americans desperately need as closures and restrictions related to Covid 19 continue. Although many were hoping for more, as it stands, eligible individuals will receive $600 in direct stimulus payments and families will receive additional funds for children if their adjusted gross incomes do not exceed the threshold. For the many Americans who are out of work, a $300 … [Read more...]
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Many Consider Bankruptcy as Payments Become Due
Many Americans have had to adapt to harsh financial realities due to increased unemployment or under employment due to Covid-19. As of November, estimates reveal that for every 16 unemployed people, there are only 10 jobs available, with older workers losing jobs faster and returning to work slower than their younger, mid-career peers. Those who are able to find work may only secure part time employment, while some seasoned professionals have had to accept salaries well below … [Read more...]
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