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Startling rise in construction firm recovery loan defaults

UK debt collections

A startling rise in construction firms defaulting on covid loans could signal a wave of future business failures. It also signals a potential wave of Debt Collection action from creditors to recover what is owed. Costs are rising and demand is weakening while repayments on Covid support loans are falling due.

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Unqualified “Cares” Act Funds Can’t Be Used To Pay Creditors

PBWT

Gargotta rejected a debtor’s attempt to use “CARES Act” funds, which it did not actually qualify for, to pay creditors in its chapter 11 case. BR Healthcare Solutions (the “Debtor”) operated a nursing home under the name Karnes City Health & Rehabilitation Center near San Antonio. 3] 615 B.R.

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Making Medical Credit Reporting Harder is a Disaster in the Making

Nexa Collect

We all agree that healthcare costs in the USA are extremely high. Inform future creditors about bills on which a person has defaulted so that they can access their own risk to lend money to that person or not. For example: What if a patient who owes $10,000 in medical bills wants to take a $500,000 home loan.

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Can a NY Judgment Creditor Garnish PPP or Other CARES Act Funds?

FFGN COLLECT NY

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. Is garnishing PPP or CARES Act funds an option for satisfying outstanding monies owed to judgment creditors?

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What You Need to Know if You Are Retired and Filing for Bankruptcy

Sawin & Shea

Furthermore, in addition to what little savings people have after they retire, social security is also often not enough to help pay even basic costs, such as rent or mortgage, food, car payments, healthcare, and other essential bills and expenses. And student loan payments are often even a burden for senior citizens today.

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Managing Bankruptcy and Medical Debt Relief in Broomfield, CO

Debt Free Colorado

Quick Summary: Healthcare-related debts such as medical bills become dischargeable through bankruptcy (Chapter 7 and 13). Some options are negotiating with creditors, structured payment plans, and debt consolidation. It can provide potential relief for individuals overwhelmed by healthcare-related debts.

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What Is Nonexempt Property In Bankruptcy, And Why Does It Matter?

Debt Free Colorado

One factor is the high cost of healthcare, which makes it more difficult for many Americans to pay their bills. Another aspect is the increased accessibility of credit loans, which makes it simpler for Americans to end up spending more than they can afford. They then exercise control over the merchandise sold to satisfy creditors.