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Dealing With Debt From COVID-19

Debt Free Colorado

Reach out to your creditors. Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Creditors are prohibited from contacting you after your petition is filed. Chapter 7 (Liquidation).

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Small Business Administration (SBA) announced that it has granted three new Small Business Lending Company (SBLC) licenses to lenders focused on historically underserved markets — the first expansion of the SBLC program in more than 40 years. The company expects to have sufficient funds to fully repay unsecured creditors.