According to recent statistics, more than 30,000 individuals file for bankruptcy protection each year in Los Angeles County and Orange County combined. Though there has been a slight downward trend in the past few years, no one can be sure of the effect that the pandemic lockdown will have on these statistics when all is said and done.
Estate planning is one of those tasks we tend to put off. In fact, only 32% of adults have a will. At The Orantes Law Firm, we help clients in Los Angeles County and Orange County, California, determine what estate planning tools work best for them.
According to the Small Business Administration, 99.9% of all businesses in the United States are small businesses — that is, business establishments with less than 100 employees. The COVID-19 pandemic has led to widespread shutdowns, thus, affecting countless small businesses across the country.
With all the information available today regarding bankruptcy, it is no surprise that much of the information is either misleading or false. In some cases, companies may lie to you to get your business or to keep you from moving forward with filing for bankruptcy.
Life's financial curveballs can strike unexpectedly and sideline you from paying bills, debts, and meeting your day-to-day needs. When experiencing financial adversity, declaring bankruptcy can help you remedy your situation and get a fresh start.
Most borrowers repay their debts in a timely manner. But what happens when they don’t? What are the rights of creditors? What rules must creditors follow?
The bill provides Key bankruptcy provisions within Sect. 1113 of the CARES Act changes eligibility threshold for businesses filing under new subchapter V of chapter 11 of the U.S. Bankruptcy Code from $2,725,625 of debt to $7,500,000; this is incredibly beneficial to aiding small businesses recover thru bankruptcy.
For individuals or businesses affected by the Corona Virus shutdown of the city, bankruptcy is still an option
Reorganization for small business debtors made more affordable by reducing the costs instead of having excessive procedures.
An article by NPR author Chris Arnold, providing information regarding dischargeability of student loans.
