Gone are the days when you had to drive to the bank to do a single transaction. Research has shown that more than half of the adults in the U.S. bank online, while about a third bank using cell phones. You can do almost all transactions through the convenience of your phone or your desktop.
In what most of us would call a normal world, bankruptcies are filed each day. However, during these times when more and more people are dealing with the financial fallout associated with COVID-19, it is estimated that numerous individuals and businesses will be filing for bankruptcy in the months and years ahead. Since the bankruptcy process is complex, confusing and will have a significant impact on a person’s finances and particularly their credit, it is a decision that should be made only after careful thought, and as a last resort. If this is something you are considering, you should know the key differences between Chapter 7, Chapter 11, and Chapter 13 bankruptcies.
Charging it has become part of the American way of life. Whether it’s because they want to delay payments, don’t have the money currently, or simply want the convenience, consumers expect to be able to pay their bills with plastic. For a small business owner, this can present a challenge.