New York State Governor Andrew M. Cuomo extended the State’s moratorium on COVID-related commercial evictions and foreclosures through January 1, 2021. The Executive Order extends protections already in place in recognition of the financial toll the COVID-19 pandemic has taken on businesses, including restaurants.  The extension gives commercial tenants and mortgagors additional time to catch... The post News Bulletin: Commercial Eviction Moratorium Extended appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

In part 1 of this two-part series, we covered the basics of business interruption insurance, also known as business income insurance. This article will focus on the intersection of business interruption insurance and COVID-19. Does business interruption insurance cover losses from COVID-19? Many insurance companies are denying business interruption insurance claims related to COVID-19. Even... The post Business Interruption Insurance, Part 2 appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

Welcome to the third of a three-part series on credit scores. This article looks at how you can monitor your credit score. Part 1 focuses on credit score rankings. Part 2 delves into what influences credit scores. What is a credit score? Your credit score is a numerical rating of your credit worthiness. Basically, the... The post Demystifying your credit score, part 3 appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

Business interruption insurance is a standard tool in a business’s risk management toolbox. But will your policy cover business income loss due to the global COVID-19 pandemic?  This is the first of two articles on business interruption insurance. This article focuses on the basics, and the follow-up is specific to COVID-19. First, what is business... The post Business Interruption Insurance, Part 1 appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

In the second part of this series, we look at what influences your credit score. Part 1 of this series goes over credit score ranges. Part 3 looks at how you can monitor your credit score. What is a credit score? To refresh your memory, your credit score is a numerical rating of your credit... The post Demystifying your credit score, part 2 appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

No one wants to lose their home. Whether a job loss, medical bills, or a divorce puts you in a precarious financial position, there are ways to mitigate a bad financial situation and keep you in your home.  What exactly is foreclosure?  Foreclosure is a legal process where a lender recovers the balance of a... The post Having trouble paying your mortgage? appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

Welcome to the first of a three-part series on credit scores. This article focuses on credit score rankings. Part 2 delves into what influences credit scores. And Part 3 looks at how you can monitor your credit score. What is a credit score? Your credit score is a numerical rating of your credit worthiness, or... The post Demystifying your credit score, part 1 appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.

Bankruptcy means a fresh financial start for your family but discharging your debt is only the first step to repairing and building good credit. Create and stick to a monthly budget. In your post-bankruptcy life it is critical to live within your means. Otherwise, you may backslide into debt. Creating a monthly budget will help... The post Recovering from Bankruptcy appeared first on Penachio Malara, LLP - Bankruptcy Lawyers.