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The world is struggling, and it’s evident from any country. Between pandemics, protests and politics, the United States is especially struggling in its economy. Many small businesses have restructured or filed for bankruptcy during the last three months. On top of that, the unemployment rate hit 13.3% in May – a decrease from April’s rates. Many people fear how the…
Our homes are a safe place from the rest of the world. It’s the place where: we finally relax at the end of a long day at work, raise our kids into mature adults or finally settle down after retirement. Our homes are a special place in our hearts. That’s what makes the foreclosure process more devastating. Many families or adults…
Most business owners anticipate costs upfront. Between loans, investments and property development, most entrepreneurs have to put in a lot of cash before they can see any profits in the future. But what’s a reasonable amount for business-related debt? The answer is it depends. Most business debts rely on multiple factors like the industry you are entering into, your specific…
Bankruptcy is intimidating for most participants, primarily due to the negative stigma surrounding bankruptcy claims. However, the financial option tends to be a fresh start for most filers and offers a new opportunity to reshape your future. It sounds like an excellent path for some folks, but what can participants expect after filing for bankruptcy? Will credit scores and debt…
Most people have some form of debt, whether it’s medical bills, car loans, mortgages or student loans. And if you start accruing multiple types of debt, it becomes overwhelming for you and your bank account. Luckily, there are several ways to manage debt in a way that is manageable and understandable for any adult. Determine your starting point Before you…
Many couples know that marriage means sharing your life. You have to share a house, family, time and even money. It makes sense that you also share your spouse’s debt – no matter how the debt is accrued. It provokes the question that if your spouse files for bankruptcy to addressed their debt, do you (as their spouse) also have…
The current global crisis has put all business owners on alert as they navigate the new normal for shopping, communicating and interacting with their customers. Recently, many large-scale companies, like Neiman Marcus and JcPenny’s, are filing for bankruptcy to recover some of the significant losses they have seen over the last period. For small businesses, the impact may be even…
Harassment in any form is a terrifying experience. Oftentimes, it leaves people uneasy and fearful of how they can move on from their harassers. It’s particularly challenging when you are receiving harassment due to your debt. Many people who experience debt also experience creditor harassment, where bill collectors call your home, your work and threaten legal action over your unpaid…
Many people have been laid off, or had hours reduced, due to the coronavirus pandemic. More than 855,000 people filed for unemployment benefits in Ohio in the four weeks after the state started closing businesses, and unemployment claims continue to rise at an alarming rate. I often tell my clients that the one thing you can control the most when…
Home confinement could help you spend less money. However, whether your job is not deemed “essential” or your boredom causes you to gravitate toward online bargains, you might worry about how your financial accounts will survive economic uncertainty. If you are willing to change your perspective, making some adjustments could ease the stress of the emotional challenges of quarantine. Meanwhile,…