How Will Stein Mart’s Bankruptcy Filing Affect its Customers, Employees and the Community?
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
3y ago
Jacksonville-based discount retailer Stein Mart filed bankruptcy about 10 days ago.  The company is another victim of COVID-19 and the widespread economic slowdown that the virus has caused. Millions of Americans are still unemployed or earning reduced wages. That means that they are not shopping as much as they were before the pandemic–in person or online. People often wonder what happens when a store files bankruptcy and shuts down its retail outlets. Store closings and corporate bankruptcy filings affect many kinds of people in the local community: employees and customers and landlords ..read more
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Start Planning Now for When the COVID-19 Relief Runs Out
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
3y ago
COVID-19 has been on the scene for over 6 months now. The federal government  implemented various relief programs like the Stimulus Checks and $600/week federal supplemental unemployment benefits to help consumers. These benefits cost taxpayers nearly $250 billion.   Congress is presently debating what it should do next to help Americans get through the prolonged economic slowdown. Businesses are going bankrupt to deal with the slowdown and loss of revenue.  Many national retailers have filed bankruptcy, or soon will.  J. Crew, Neiman Markus and JC Penney have filed ba ..read more
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Can A Judgment Creditor Really Take My House to Pay the Judgment?
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
As the nation enters Phase 2 of the Coronavirus Lockdown, millions of Americans are still behind on their monthly bills. Many lenders have implemented programs to help people manage debt payments during this economic uncertainty.  However, while people with student loans, mortgages and automobile loans were offered helpful alternatives to survive the Corona-induced downturn, people with credit card debts often were not. Debtors with medical debt have not fared well either. A recent article in the California Law Review Online declared that, “The coronavirus pandemic is ..read more
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Bankruptcy Myths Exposed
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
With COVID-19 destroying the economy, scores of retailers have filed bankruptcy in order to get relief from their creditors. Last last year, Congress  enacted a new subchapter of the bankruptcy code to help smaller businesses get relief at a lower cost and more quickly. Corporations of all sizes have used bankruptcy as a survival tool for generations. They did not give it a second thought. There is not stigma when a company does this in order to survive. (Local grocer Winn-Dixie, and many major airlines,  are still around because of their bankruptcy filings.) However, for individuals ..read more
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Why You Should Never File Bankruptcy On Your Own
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
With the effects of Coronavirus still impacting the economy, many people are facing loss of income. This reduction in  income makes it harder for working people to pay their bills.  Things might not get better. One economist estimates 42 percent of recent layoffs will result in permanent job loss. Whether their  lay offs are permanent or temporary,  people are looking for ways to save money on goods and services that they need. With the advent of the Internet, people have become used to finding information and deals on items they need. The Internet Age has made  people ..read more
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With So Many Floridians Losing Their Jobs or Income, Now is a Good Time to See if You Qualify for Chapter 7 Bankruptcy
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
Because of the historic economic impact  of COVID-19, economists are predicting a “tsunami” of personal bankruptcy filings.  Well-known businesses like J. Crew, Beall’s, Goody’s, Gold’s Gym and Neiman Marcus recently filed for bankruptcy protection. Most major airlines could face bankruptcy without a government bailout. Americans who have become used to using credit cards as a stop-gap measure to survive pay-cuts might not be able to rely  on this method since nearly 50 million Americans just had their credit card limits cut. For centuries, companies have used bankruptcy as ..read more
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Why You Should Start Planning Your Personal Bailout Now
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
Nearly two months after Coronavirus exploded on the scene, some states are starting to relax stay-at-home orders, and people are slowly returning to work. It will take a lon time for the economy to recover, and  some White House advisers  are still predicting a 20% unemployment rate. People are wondering if  the jobs they held prior to the COVID-19 crisis will still be there after things settle down. Economists argue about how many jobs will come back after the pandemic ends. Prior to the outbreak of COVID-19, the financial press was praising the benefits of the “gig” economy. U ..read more
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What Programs Exist to Help People in Jacksonville Who Lost Jobs or Income Because of COVID-19?
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
The news these days is all about Coronavirus: from television news to social media, the number one topic of the day is COVID-19.  Our screens and feeds are flooded with news about how Coronavirus has devastated the American economy.   Just this morning, NBC News had the “breaking” news that  U.S. gross domestic product (GDP) fell by 4.8% in the first quarter of the year–the biggest decline since the Great Recession.  This is probably is not much of a surprise to most of us.  Economists predict that  the worst is yet to come. Nearly Americans know that the eco ..read more
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How to Protect Your Coronavirus Stimulus Payment from your Creditors
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
Last  Friday approximately 140 million American households started  receiving Economic Impact Payments, or Stimulus “checks.” Most Americans will be receiving these payments, of at least $1,200 or more, this week. (The amount of your payment depends on your gross income and whether you have dependents.)  The Treasury Department will be directly depositing the funds into the same bank accounts where it directly deposited your 2019 tax refund. (The Stimulus payments are also being sent to people who don’t usually  file or pay federal income taxes, for example, most people who ..read more
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How Coronavirus Might Affect Your Finances, and What You Can Do About It
Jacksonville Bankruptcy Lawyer Blog
by Robert Wilbert
4y ago
Every January 1st, people make resolutions about changes they want to see in the new year; things like hitting the gym, saving money, finishing college or just vowing to be a better person make many lists.  At the beginning of this new decade, no one had any idea that within weeks, something that we cannot even see would change the world—and change it drastically. Just 3 months into 2020, COVID-19, or the Coronavirus,   has already infected over one million people and killed over 50,000, according to Johns Hopkins University. Americans are now bracing for the worst week since COVID-19 came on ..read more
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