Lately, a common question posed to me is, Should I take out a personal loan after the pandemic? This seems like a simple question. As such, my initial reaction is NO. Nobody should take out a personal loan after the pandemic. OR, AT ANY TIME unless they need it and have good reason for taking on the new debt. Truthfully, [...]
Amid this coronavirus pandemic, like everyone else, I am looking forward to better days ahead. Why? The answer is simple. I miss seeing people. While our office is open and we continue our clients’ work, remotely working with clients is not the same. I became a bankruptcy lawyer to help people. People call me when they are scared and unsure [...]
When should you use a personal loan to consolidate credit card debt? My knee jerk reaction and response to the question is always: NEVER! But then I take a step back. In some circumstances it may be the best choice. You really have to consider all the facts and the individual’s specific circumstances. Terms of Debt Usually, the lender for [...]
For businesses facing huge debts, avoiding closure and liquidation of assets are made possible by filing for Chapter 11 bankruptcy, commonly known as business reorganization. Under this type of bankruptcy, a business may renegotiate the terms in its contracts and leases, request creditors to discharge debts, and restructure payment plans in order to reach profitability. Declaring corporate bankruptcy will give [...]
Cutting household expenses during a financial crisis can be really hard. It is human nature to think the crisis will be temporary. Hence, you will get out of the crisis before you and your family need to change your lifestyle. The best thing to do is to start by cutting day-to-day little luxuries. Luxuries such as trips to the fancy [...]
