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.
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.
Congress has enacted the HAVEN ACT. Put simply, veterans who used to not qualify for the cheaper, faster, easier Chapter 7 relief now may qualify and those who still need a Chapter 13 case may be able to pay less each month.
When it comes to filing for bankruptcy, some Los Angeles residents may think it is a very easy process — as if someone can just up and file without much hassle. Other residents may think it is more complicated than it actually is, and thus incorrectly decide that bankruptcy is not the route for them.
Many people who are in long-term relationships are putting off marriage because at least one of the parties has significant debt. This is especially true in today’s economy, where school loans and few job offers have led to overwhelming debt for a large number of young people.
Loan modification is the process of negotiating with your lender to reach agreement on modifying the terms of repayment of your existing home mortgage to enable you to continue making your payments despite some hardship that you and your family may be experiencing.