As the easing of regulations related to COVID-19 accelerate, the clocks of financial relief are running out of time. On March 13, 2020, the White House declared a state of emergency; an act that would lead to unprecedented legislative orders to assist Americans. Now more than a year later, many provisions for relief and assistance…
Continue reading ›The majority of Americans have experienced some financial challenges this year. Many hardworking people have lost their jobs, have had to cash out retirement and asset funds to make ends meet, or had to seek government assistance. Many more have simply had to rely on credit cards and other risky financial habits to get by.…
Continue reading ›Unemployment claims have reached record highs above levels ever seen in history. States are reporting unemployment claims upwards of 900,000 a week. As many people are desperately seeking assistance to make ends meet, many feel relieved by the news this week that an extension to, and addition of new, unemployment benefits may soon be available.…
Continue reading ›In 2019, the domestic box office hit the second highest record for profitability; bringing in some $11.4 billion. Prior to March of this year, many predicted that the profitability in 2020 would achieve a similar record. However, the entertainment and nightlife industries have taken one of the largest blows to profitability due to the pandemic.…
Continue reading ›As the year 2020 continues to witness a sharp decline in economic growth, businesses all over the U.S. are filing for bankruptcy. This mainly includes the brick-and-mortar retail sector businesses that have succumbed to the economic meltdown due to operational difficulties and financial stress. As a result, quite a few retail companies have petitioned for…
Continue reading ›Budgetel Inn in Modesto California filed for Chapter 7 bankruptcy this past week. United Resorts LLC operates the nearly 100 room Budgetel Inn and hopes to liquidate its assets to pay off the motels debts. According to the court documents filed, United Resorts debt includes $61,439 in lease payments, $99,534 to California Department of Industrial…
Continue reading ›Takata, a company based out of Japan, will soon be replacing passenger airbag inflators in more than 782,000 Ford vehicles in the United States. The chemical used to inflate the airbags deteriorates over time, causing the airbag eruption to contain too much force; resulting in the explosion of shrapnel into the vehicle. The financial ramifications…
Continue reading ›If the Pacific Gas and Electric Co. are held liable for the deadly November 2018 wildfire in Northern California, it could add billions to the company’s debt. The company’s insurance only covers $1.5 billion, coming far short of the estimated $15 billion in liabilities. Financial Ruin While the utility company hasn’t made any announcements regarding…
Continue reading ›Everyone wants a high credit score. Your credit, after all, is the financial key needed to access credit. Over the course of this year, you may have noticed that your own credit score has improved thanks to initiatives by the Consumer Financial Protection Bureau (CFPB). In fact, the average overall FICO Credit score in the…
Continue reading ›A new law is helping utilities prevent a possible California Bankruptcy, but it appears as though the direct cost may be the burden of California utility consumers. The new law, signed in the last week of September 2018, is already drawing stringent criticism from Californians. Critics are calling the new measure, which allows California utility…
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