The COVID-19 pandemic has affected many people’s lives, including loss of jobs and closure of businesses. It has, without a doubt, greatly affected the economy. In line with this, many individuals and businesses are declaring bankruptcy. Thus, the U.S. government founded the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act was enacted…
When things don’t work out for you financially and your liabilities far exceed your assets, filing for bankruptcy seems like the next best option—and in many cases, it is. The federal courts can relieve people of previous debts or provide more favorable repayment plans so that debtors can start over on a clean slate. Like…
The Coronavirus Aid, Relief, and Economic Security Act was signed into law by the President on March 27, 2020. The CARES Act suspends the collection of student loans owned by the federal government, including interest, through September 30, 2020. It does not apply to student loans that are not owned by the Department of Education. …
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