As novel coronavirus has spread across the globe, COVID-19 has affected every aspect of life. The U.S. Department of Labor reported nearly 3.3 million people filed for unemployment in the week ending March 21, the highest ever recorded.1 In California, 1 million people filed for unemployment in two weeks.2 The virus is not only overwhelming […]
The Senate passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 25, 2020. Enacted on March 27, the legislation placed short-term restrictions on lenders and servicers of federally backed loans. It enforces mandatory forbearance obligations, moratoriums on foreclosures, and revises credit reporting obligations to help individuals and businesses facing financial hardship […]
The economic fallout of coronavirus is affecting tens of millions of Americans. In addition to those who have become ill with the virus, many have lost jobs, closed their businesses, and therefore struggling to pay rent. There are over 40 million renters and 30 million small business owners affected in the U.S., according to The […]
According to the U.S. Department of Labor, there were more than 6.6 million jobless claims in the week ending March 28, as more and more people stay home.1 Coronavirus infections and COVID-19 have devastated the U.S. job market. As the global pandemic persists, federal, state, and local governments have sought to ease the financial burden […]
Various federal, state, and local agencies have offered financial relief during the COVID-19 global pandemic. For example, New York announced it would cease collection of state-owned medical and student debt for 30 days. In California, there’s now a 90-day grace period for mortgage payments and a moratorium on initiating foreclosure sales or evictions. But for […]
Coronavirus is affecting every aspect of daily life including federal, state, and local governments. The courts have had to adjust their rules in light of the pandemic. We have put together this FAQ to help our clients navigate the new bankruptcy rules. This is not legal advice but guidelines. ARE THE BANKRUPTCY COURTS STILL OPEN? […]
