Monthly Archives: May 2024
Getting Student Loan Forgiveness in a Bankruptcy Filing?
Despite a lengthy pause on federal student loan payments, those payments restarted in fall 2023, and many borrowers in South Florida have been struggling to make payments after becoming accustomed to the pause. During the pause, President Biden initially indicated that anywhere from $10,000 to $20,000 of an individual’s federal student loans would be… Read More »
My Business Cannot Pay an SBA Loan: What Are the Options?
At the beginning of the COVID-19 pandemic, businesses in South Florida and across the country could not afford to remain in business with public health lockdowns in place. In response to the growing need for funding from small businesses, the US Small Business Administration (SBA) made a range of funding sources available. Some of… Read More »
Differences Among Types of SBA Pandemic Funding and What Your Business Owes Now
The US Small Business Administration (SBA) has provided a range of funding options to small businesses in Florida, especially during the COVID-19 pandemic. Some businesses received loans, some received money that was akin to a grant, and others received a combination of the two. Now that many of the loans are due, businesses should… Read More »
American Consumer Debt and Bankruptcy Options
How common is it for consumers in Florida and throughout the country to struggle with debt? And how often do those consumers who are struggling to repay their debt decide to file for bankruptcy? When bankruptcy is an option, what types are most common for consumers? A recent article in Business Insider Reported that… Read More »
EIDL Hardship Accommodation Versus Reorganization Bankruptcy
Small businesses throughout South Florida are struggling with repayment concerning loans from the US Small Business Administration (SBA) provided as part of COVID-19 pandemic relief. In particular, many smaller companies in West Palm Beach and the surrounding area are facing repayment of loans received through the Economic Injury Disaster Loan (EIDL) program, provided by… Read More »
Inquiring About Bankruptcy
Struggling with debt can be anxiety-inducing and may feel endless, whether you are an individual or a business having difficulty repaying debt you have incurred. For individuals and business owners alike, debt problems and financial difficulties often lead to bankruptcy considerations and wondering whether or not it is time to begin inquiring about a… Read More »
When is Subchapter V the Best Option for a Small Business?
For any small business in the West Palm Beach area that is currently considering a bankruptcy filing, it is essential to speak with one of our West Palm Beach bankruptcy lawyers about your options and your plans for filing. There are many different types of business bankruptcy in South Florida, and it will be… Read More »
What Can I Do If I Was Billed for an EIDL Loan But Cannot Pay?
Did your business recently receive a bill from the US Small Business Administration (SBA) for a loan made through the Economic Injury and Disaster Loan (EIDL) program, or for another type of pandemic-related SBA loan? If you cannot pay, it is important to understand your obligations with regard to the loan as well as… Read More »
Medical Debt and Bankruptcy Among Older Adults
Medical debt can affect anyone, but it can become a more common burden among older adults who tend to have more significant health problems that require costly and ongoing care. Indeed, according to data from the Kaiser Family Foundation, “people typically use more health care often have higher health care expenses and out-of-pocket costs… Read More »
Nearly Half of Chapter 11 Cases Are Subchapter V Filings
For any small business owner in South Florida considering reorganization bankruptcy, the possibility of a Subchapter V filing should be something you discuss as soon as possible with an experienced West Palm Beach bankruptcy lawyer. Since it became available, a significantly large percentage of businesses have qualified for Subchapter V, as recent data from… Read More »
