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CARES Act for Consumers & Small Businesses
The U.S. Government enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help individuals, families, and businesses across the U.S. access emergency assistance during the COVID-19 pandemic. Some parts of the $2.2 trillion economic relief package provided…
Neiman Marcus Nears Bankruptcy Filing
Facing nearly $5 billion of debt and dwindling sales during the COVID-19 pandemic, luxury retailer Neiman Marcus may file for bankruptcy. Brick-and-mortar retail sales have dropped significantly because of stay-at-home orders, which have closed non-essential businesses like clothing stores. Like…
Pier 1 Files for Chapter 11 Bankruptcy
Home goods and decor retailer Pier 1 Imports Inc. filed for Chapter 11 bankruptcy on February 17 and is pursuing the sale of the company. According to its last yearly financial report, the company had about 18,000 employees as of…
Impact on Businesses from COVID-19
This morning, my daughter and I went out to breakfast to celebrate her birthday. We went to a popular local breakfast spot that we’ve been going to for years on her birthday. The same Saint Patrick’s Day specials were being…
Stop Living Paycheck to Paycheck with These Tips from a Bankruptcy Lawyer in NC
Do you often feel trapped by the paycheck-to-paycheck cycle? Do you find yourself continuously counting down the days until your next direct deposit hits your bank account? You’re not alone. Living paycheck to paycheck is a reality for many Americans….
6 New Year's Resolutions for Dealing with Personal Debt
Getting a better handle on your household finances and the amount of debt you are shouldering is a great way to gain peace of mind and achieve financial stability in 2020 and beyond. These tips will help those looking to…
Raising of Debt Limit Allows More Family Farmers to Qualify for Bankruptcy Relief
Operating a family farm in North Carolina is a challenging way to make a living, with fluctuating commodity prices, disruptions in export markets, higher land prices and unpredictable weather emergencies. When times get tough, the amount of debt that family…
New Bankruptcy Law To Benefit Small Businesses
President Trump has signed the Small Business Reorganization Act of 2019 (SBRA) into law, streamlining Chapter 11 bankruptcy restructuring for small businesses to make the process faster and less expensive. The new bankruptcy law, which takes effect on February 19,…
Reverse Mortgages and Bankruptcy: What You Need To Know
It’s not unusual for us to meet with individuals whose financial condition is best described as land rich, but cash poor. These are usually people who have lived in their home long enough to have built up significant equity but…
Chapter 13 Debt Limits Increasing after April 1, 2019
Individuals who are considering seeking bankruptcy protection may benefit from the recent increase in the amount of debt you can have and qualify to file for a Chapter 13 bankruptcy reorganization. Debtors can only qualify for a Chapter 13 reorganization…
