The economy has faced a major setback with COVID but I am optimistic. I encourage my clients to take a positive step, make changes and you will bounce back.
If you look at nature, in the 2018-19 winter, there were a record 37.7% less honeybees than the previous year.
Honeybees rebounded this previous winter, (reported the Associated Press). This previous winter, there was only a loss of 22.2% of their colonies — considerably better than the average of 28.6%, (Bee Informed Partnership).
During the ongoing 14-year survey, that percentage was the second-smallest winter loss on record.
Honeybee populations often follow a cyclical formula with good seasons following bad ones.
I believe our bad season will be followed with a good one.
Beekeepers make changes, e.g. bringing their hives indoors during the winter. You can make positive steps to improve your financial situation and find out if bankruptcy will help you.
Honeybees are crucial to the world’s food supply and face numerous obstacles just like all of us do, but they push forward.
I am here to help you, give me a call today.
Some facts about honeybees when you think you are struggling:
—Bees have to fly over 55,000 miles to make 1 lb. of honey.
—Honeybees never sleep! No wonder worker bees have such a short lifespan!
—1 lb. of honey takes 556 workers and 2 million flowers.
—50-100 flowers are pollinated during one collection trip.
Stimulus is Helping or Delaying Bankruptcies? 63% Decrease in NJ Bankruptcy Filings May 2019 Vs May 2020
New Jersey Bankruptcy filings for all cases:
Chapters 7, 11, 13, and adversary proceedings are down:
- May 1 – May 29, 2019 Total filings = 2,577
- May 1 – May 29, 2020 Total filings = 946
- Decrease: 1,631 or 63%
Time will only tell…..
Any questions or concerns, you can call me direct (201) 446-5904
Bankruptcy Stats – Bergen County – Takes the Lead in Chapter 7 Bankruptcies 12 months ending November 2019 for all of New Jersey
Chapter 7 Bankruptcies:
Business: Bergen County in 1st place with 60: Middlesex and Union Counties had zero
Consumer: Bergen County in 1st place with 1452 with Essex County a close 2nd at 1400.
Chapter 11 Bankruptcies
Business: Bergen County in 1st place with 40 business;
Consumer: Bergen County had 15
Chapter 13 Bankruptcies
Business: Essex and Hudson were tied for first place with 6 – Atlantic, Cape May, Sussex, Middlesex and Union Counties had zero
Consumer: Camden County took the lead with 1,019 – Union County had zero consumer Bankruptcies
For all of New Jersey, there were a total of 24,458 business and Consumer Bankruptcies combined.
Data from US. Bankruptcy Court; District of New Jersey
Consumer Bankruptcies are still 94% of all bankruptcies filed.
Consumer Bankruptcies are Down 1% – December 2018 vs. December 2017; Non-Consumer Bankruptcies were down 6%.
American’s borrowing $13.29 Trillion, up $454 Billion for last year; 16 consecutive Quarter of increases
Consumer Debt $618 billion higher than previous peak of 12.68 trillion in 3rd Q 08
July 9, 2018
November 9, 2017
June 13, 2017
When we study the dynamics of debtors who do not have enough money to pay all creditors, it is interesting to note that personal loans were paid first.
The hierarchy that debtors pay their debts was found to be as follows:
- Personal Loans
- Auto Loans
- Credit Cards
April 9, 2017
More financially distressed consumers and businesses may reach for the lifeline of bankruptcy as interest rates increase.
However, there was a 10% decrease in Bankruptcies comparing Feb. 2016 to Feb. 2017.
(data from: ABI and data provided by Epiq Systems)
March 6, 2017
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Ralph A. Ferro, Jr., Esq.
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Timing of Filing Bankruptcy is Key Timing of filing your bankruptcy is very important. There are ...