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Monthly Archives: May 2020

BankrLaw2

The COVID-19 Pandemic Forces Some Companies into Bankruptcy

By Nowack & Olson, PLLC |

Bankruptcy lawyers have been expecting a wave of filings due to the COVID-19 pandemic. According to media reports, that wave is beginning to hit shore. The business press has reported that many prominent companies have recently filed for Chapter 11 protection due to financial distress from the coronavirus pandemic. Although Chapter 11 allows these… Read More »

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CreditCards2

Should You Apply for a Credit Card During the COVID-19 Pandemic?

By Nowack & Olson, PLLC |

Now might seem like an odd time to be applying for a credit card. After all, no one really knows when things will get back to normal. Right now, tens of millions of people are out of work and the economy is shrinking. Even those who are employed must be feeling vulnerable to layoffs…. Read More »

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Bankr24

How the Federal Bankruptcy Courts are Responding to COVID-19

By Nowack & Olson, PLLC |

The COVID-19 pandemic has crashed the economy harder than even the bursting of the housing bubble did a decade ago. Over 17 million people in the United States have filed for unemployment in the past few weeks, which means they are probably feeling substantial financial distress. And small businesses have been hammered by stay-at-home… Read More »

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FedCrime

Will Congress Broaden Bankruptcy Protections for Consumers and Businesses?

By Nowack & Olson, PLLC |

The ongoing coronavirus pandemic has dramatically changed life for all people in Florida. Not only have many businesses been shuttered, but people have either lost their jobs or been furloughed. Across the nation, there has been an unprecedented economic contraction, with millions of people now unemployed. Bankruptcy has long served as a safety valve… Read More »

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Bankr31

Will AMC Theatres File for Bankruptcy?

By Nowack & Olson, PLLC |

One result of the recent virus pandemic is that fewer people are congregating in public. In most states, Governors have issued stay-at-home orders that limit what activities people can engage in. Even in places without these orders, people are sensibly practicing social distancing. The pandemic has hit movie theaters hard. AMC is one of… Read More »

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CreditR

Should You Use Your Stimulus Check to Pay Down Debt

By Nowack & Olson, PLLC |

Congress recently passed a $2 trillion stimulus bill that provides money to city and state governments, as well as loans and grants to businesses. The law also requires that the Treasury cut a $1,200 check to adults who make less than $75,000 ($150,000 combined for married couples). Those earning more should receive smaller checks,… Read More »

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