Prior to the Coronavirus pandemic, it was common to hear that Americans were experiencing the best economy ever. Overall, unemployment was near 3.5% according to the U.S. Bureau of Labor Statistics in January of 2020. The same source indicates that unemployment rose to 14.7% in May of 2020! Wow! Of course, even when times were […]
What is a business bankruptcy? A business bankruptcy is a topic frequently misunderstood. Sometimes, a CORPORATE bankruptcy filing is what is meant. In other words, the corporation itself files bankruptcy, not the individuals that own the corporation. Corporations may generally file a Chapter 7 bankruptcy (to completely go out of business) or a Chapter 11 bankruptcy (to […]
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