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Could a Second Wave of COVID-19 Cause More Businesses to File for Bankruptcy?

Industry experts are saying it’s likely.   The COVID-19 pandemic has pushed thousands of businesses past the point of no return. While some businesses shuttered and never reopened after government-ordered shutdowns were lifted,…
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Oklahoma, Chaparral Energy Files for Chapter 11 Bankruptcy After COVID-19 Pandemic Lowers Demand for Oil

While the COVID-19 pandemic has increased the need for reliable healthcare workers, it has caused the demand for oil and gas to decline. With fewer people traveling on commercial flights in an effort to help curb the spread of COVID-19, companies…
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Illinois Department Stores Close Following Bankruptcy Announcement

The U.S. workforce has been struggling financially for months since the outbreak of the novel coronavirus. Millions of consumers have either lost their jobs or taken huge pay cuts. For businesses, the outcome has been similar. Many companies…
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Idaho Bankruptcy Petitioner Admits to Concealing Assets

The process of filing for bankruptcy in Idaho is lengthy and complex. Whether filing for Chapter 7 liquidation bankruptcy or Chapter 13 reorganization bankruptcy, proceedings take time and the petition must be filed as accurately as possible.  Applicants…
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Hawaii Bankruptcy Filings Drop in July Following June Spike

Like all other U.S. states, Hawaii experienced an unprecedented rise in unemployment rates due to COVID-19. The worst of the pandemic’s effects were felt in June, when the state’s bankruptcy filings increased by a whopping 22%. However,…
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Georgia Anesthesia Practice Files for Bankruptcy for the Second Time

Given the current state of the economy, it’s not uncommon for debtors to file for bankruptcy protection these days. Significant reductions in steady income have caused otherwise well-off consumers and businesses to tap into their savings.…
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Oklahoma, Stein Mart, Inc. May Close All of Its Brick-and-Mortar Stores After Filing for Chapter 11 Bankruptcy

The COVID-19 pandemic has pushed several large and small businesses into filing for bankruptcy and Stein Mart, Inc. has joined the growing list. On August 12, 2020, Stein Mart, Inc. announced that it voluntarily filed for Chapter 11 bankruptcy…
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Can Filing for Chapter 7 Bankruptcy in Florida Affect Your Loved Ones?

If you’re a Florida resident facing piling debts and possibly foreclosure, with no foreseeable way to pay what you owe, you may have given some thought to filing for bankruptcy protection. While there are two main bankruptcy chapters Florida…
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Can Delaware Debtors Apply for Credit After Filing for Bankruptcy?

Anyone in Delaware who has ever found themselves buried under insurmountable debt has likely entertained the idea of filing for bankruptcy protection. Given the current state of the economy, many consumers are leaning toward filing as their…
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Lord & Taylor Closes 3 Connecticut Stores Amidst Bankruptcy Filing

COVID-19 has resulted in serious financial hardship for individuals and businesses alike. In Connecticut, the detrimental effects of the pandemic have shaken the economy to the point that previously well-established consumers and companies are…
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Colorado Bankruptcy Rates Skyrocket After 9 Major Denver Business Filings

While Colorado residents are frantically searching to find employment in the wake of the coronavirus pandemic, many businesses are also struggling to stay afloat. Nine businesses filed for bankruptcy in Denver alone the last two weeks of July…
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Can Unemployment Benefits Affect Your Chances of Qualifying for Bankruptcy in California?

Millions of people have been laid off since the COVID-19 pandemic began peaking in April. However, some states have experienced greater effects than others as far as job loss. California, for example, has one of the highest unemployment rates…
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The Role of Debt-to-Income Ratio When Filing for Bankruptcy in Arkansas

Arkansas consumers who contemplate filing for bankruptcy do so because they’ve accumulated a significant amount of debt and are either struggling or completely unable to make their monthly payments. Bankruptcy is a federal process that allows…
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Why You Need a Bankruptcy Lawyer When Filing in Arizona

If you’ve been struggling with insurmountable debt in Arizona, especially if you lost your job due to COVID-19, you may have given considerable thought to filing for bankruptcy. You may be drowning in bills and may even be on the verge of…
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Options for Debtors in Alaska Who Are Behind on Payments

Alaska residents, like many others across the United States and around the world, have been struggling to pay bills due to the COVID-19 pandemic. While some debtors need only worry about minor bills, such as groceries, car payments, insurance,…
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Hertz Must Sell Nearly 200,000 Cars as a Part of its Chapter 11 Bankruptcy Deal

One of the advantages of filing for Chapter 11 bankruptcy is that it allows for a business to reorganize itself and pay its creditors over time. Rather than having to shut down all operations, a business is given the opportunity to stay alive…