New Year, New Start: Should You File For Bankruptcy In 2024?   Many people use the New Year as an opportunity to set goals and create new habits. That could be improving fitness, reading more, or even setting a budget and maintaining better financial practices. But with the cost of living higher than ever, creating a budget and sticking to it might not be sufficient to ease your financial woes. A creditor could repossess an asset that you have already poured money into or get an order from the court allowing them to take your paycheck. This will make it even more difficult to get out of debt than it already is. Filing for bankruptcy could be instrumental in helping you get your financial situation back on track in the new year. Make your filing as effective as possible by hiring a skilled bankruptcy firm to represent you in your case. If you need financing to pay for your case after it has been filed, you may qualify for our firm’s zero-down payment plan option. To get your questions answered with your free consultation, call 480-470-1504.  How Bankruptcy Protects You From Creditors One of the top incentives to file for bankruptcy is the protection you will gain through the automatic stay. The automatic stay is activated the moment a debtor files their case in court. The debtor should submit a full and accurate petition (unless they are using a skeleton petition) accompanied by a creditor mailing matrix and their first credit counseling course certificate to ensure their case remains in good standing. If their case is dismissed, the protections from the automatic stay will lapse, giving creditors a chance to proceed with collection without a motion for relief from the automatic stay from the court.  It’s important to keep the automatic stay in effect because it prevents creditors from pursuing many types of collection against the debtor. It stops lawsuits that have already been filed from proceeding and new lawsuits from being filed against the debtor. This includes home foreclosures and evictions that haven’t proceeded too far in the process. If the creditor has already obtained a judgment against the debtor, the automatic stay can stop them from garnishing the debtor’s wages or draining money from their bank account with a levy. If you are concerned about your creditors collecting your debt through some other method, see if the automatic stay can help by scheduling your free consultation at 480-470-1504.  Filing Chapter 13 Bankruptcy To Reorganize Your Finances If you choose Chapter 13 bankruptcy in 2024, your case will last well past 2024. Chapter 13 bankruptcy lasts either 3 or 5 years but can help the debtor deal with more types of debt than Chapter 7. The payment plan sorts debts into four categories and pays them off in order. The first debt to be paid is attorney’s fees and other legal costs associated with the bankruptcy. Next, a Chapter 13 bankruptcy plan will pay off secured debts like home mortgages and auto loans. After secured debts, priority debts must be paid. This includes child support, alimony, student loans, and some taxes. The fourth and final category paid off in Chapter 13 bankruptcy is unsecured debt. These are the debts that would be wiped away in a Chapter 7 bankruptcy filing, such as credit cards, medical bills, and personal loans. The debtor’s payment plan will also be based on how much disposable monthly income they have. The fourth category, unsecured debts, only needs to be paid off as much as possible based on the debtor’s disposable monthly income. Chapter 13 also offers debtors with secondary mortgages the opportunity to clear them like an unsecured debt. For more information about how Chapter 13 bankruptcy could set your finances straight, call 480-470-1504 for your free consultation.  Special Considerations For Filing Bankruptcy In The Beginning Of the Year There are different concerns a debtor might face depending on which time of the year they file for bankruptcy. One of the top concerns for debtors who file at the beginning of the year is what will happen to their potential tax refunds. This extra cash could be important to a family’s budget, and losing it could be highly detrimental. It is almost guaranteed that the trustee will take a bankruptcy debtor’s tax refund. This continued for three or five years in Chapter 13 bankruptcy. A Chapter 7 bankruptcy debtor may be able to time their filing so that their refund isn’t put at risk.  The trustee can’t take a Chapter 7 bankruptcy debtor’s tax refund if it is received and spent before the debtor files their petition. If a debtor plans to file for bankruptcy after spending their tax refund, they should make sure they are caught up on tax filings and file the current year on time. If you procrastinate and file an extension for your taxes, it will push back when you receive your refund and how long you have to wait to file your bankruptcy case. The sooner you file your taxes, the sooner you can receive and start spending your refund. It’s also important to spend your refund on reasonable expenses during this time. Consider stocking up on household goods, getting repairs or maintenance you’ve been putting off, or even spending your tax refund to hire your Mesa bankruptcy attorney. For more information on avoiding surrendering your tax refund to bankruptcy, call 480-470-1504 for your free consultation. Rebuilding Credit After Discharging Debt The new year can be a great time to implement new financial habits, including those that will help you rebuild credit after a bankruptcy case. Part of that could be making better decisions regarding your credit card usage. Credit cards aren’t necessarily a bad thing, as they can come with perks and benefits and contribute to your revolving credit balance. However, skipping a month or two of paying off your full balance can make it more difficult to catch up, and you may have significant interest fees. When you receive offers for new credit cards after bankruptcy, make sure you select offers with the most favorable terms and keep your spending in an affordable range.  There may be many opportunities available to you to build a credit history without you even realizing it. Monthly expenses like rent and cell phone service can often provide credit reporting. A post-bankruptcy debtor should be creative and seek out options to build credit with things that are already in their budget.  Paying your auto loan may be a major contribution to your credit history. But if you have the same auto loan after discharging debt in bankruptcy, your auto lender won’t be obligated to report your timely payments to the credit bureaus anymore. They can and will report late payments that can hurt your credit, however. Financing a vehicle, ideally at a better interest rate now that debts have been cleared, will contribute to your post-bankruptcy credit score.  Let Our Skilled Bankruptcy Lawyers Assist You With Debt Relief If you want to start the new year off on a good foot, your bankruptcy can’t be filed with errors and mistakes. Filing bankruptcy without enjoying its full benefits might not be worth the time, effort, and implications for your credit. Let My AZ Lawyers review your situation and inform you about your options. To get started with your free consultation, as well as to see if you qualify for our Zero Down payment options, contact us or call 480-470-1504.    Arizona Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 448-9800 Email: info@myazlawyers.com Website: https://myazlawyers.com/ Phoenix Location: 343 West Roosevelt, Suite #100 Phoenix, AZ 85003 Office: (602) 609-7000 Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 509-0955 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 441-1450 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post New Year, New Start: Should You File For Bankruptcy In 2024? appeared first on My AZ Lawyers.

New Year, New Start: Should You File For Bankruptcy In 2024?   Many people use the New Year as an opportunity to set goals and create new habits. That could be improving fitness, reading more, or even setting a budget and maintaining better financial practices. But with the cost of living higher than ever, creating a budget and sticking to it might not be sufficient to ease your financial woes. A creditor could repossess an asset that you have already poured money into or get an order from the court allowing them to take your paycheck. This will make it even more difficult to get out of debt than it already is. Filing for bankruptcy could be instrumental in helping you get your financial situation back on track in the new year. Make your filing as effective as possible by hiring a skilled bankruptcy firm to represent you in your case. If you need financing to pay for your case after it has been filed, you may qualify for our firm’s zero-down payment plan option. To get your questions answered with your free consultation, call 480-470-1504.  How Bankruptcy Protects You From Creditors One of the top incentives to file for bankruptcy is the protection you will gain through the automatic stay. The automatic stay is activated the moment a debtor files their case in court. The debtor should submit a full and accurate petition (unless they are using a skeleton petition) accompanied by a creditor mailing matrix and their first credit counseling course certificate to ensure their case remains in good standing. If their case is dismissed, the protections from the automatic stay will lapse, giving creditors a chance to proceed with collection without a motion for relief from the automatic stay from the court.  It’s important to keep the automatic stay in effect because it prevents creditors from pursuing many types of collection against the debtor. It stops lawsuits that have already been filed from proceeding and new lawsuits from being filed against the debtor. This includes home foreclosures and evictions that haven’t proceeded too far in the process. If the creditor has already obtained a judgment against the debtor, the automatic stay can stop them from garnishing the debtor’s wages or draining money from their bank account with a levy. If you are concerned about your creditors collecting your debt through some other method, see if the automatic stay can help by scheduling your free consultation at 480-470-1504.  Filing Chapter 13 Bankruptcy To Reorganize Your Finances If you choose Chapter 13 bankruptcy in 2024, your case will last well past 2024. Chapter 13 bankruptcy lasts either 3 or 5 years but can help the debtor deal with more types of debt than Chapter 7. The payment plan sorts debts into four categories and pays them off in order. The first debt to be paid is attorney’s fees and other legal costs associated with the bankruptcy. Next, a Chapter 13 bankruptcy plan will pay off secured debts like home mortgages and auto loans. After secured debts, priority debts must be paid. This includes child support, alimony, student loans, and some taxes. The fourth and final category paid off in Chapter 13 bankruptcy is unsecured debt. These are the debts that would be wiped away in a Chapter 7 bankruptcy filing, such as credit cards, medical bills, and personal loans. The debtor’s payment plan will also be based on how much disposable monthly income they have. The fourth category, unsecured debts, only needs to be paid off as much as possible based on the debtor’s disposable monthly income. Chapter 13 also offers debtors with secondary mortgages the opportunity to clear them like an unsecured debt. For more information about how Chapter 13 bankruptcy could set your finances straight, call 480-470-1504 for your free consultation.  Special Considerations For Filing Bankruptcy In The Beginning Of the Year There are different concerns a debtor might face depending on which time of the year they file for bankruptcy. One of the top concerns for debtors who file at the beginning of the year is what will happen to their potential tax refunds. This extra cash could be important to a family’s budget, and losing it could be highly detrimental. It is almost guaranteed that the trustee will take a bankruptcy debtor’s tax refund. This continued for three or five years in Chapter 13 bankruptcy. A Chapter 7 bankruptcy debtor may be able to time their filing so that their refund isn’t put at risk.  The trustee can’t take a Chapter 7 bankruptcy debtor’s tax refund if it is received and spent before the debtor files their petition. If a debtor plans to file for bankruptcy after spending their tax refund, they should make sure they are caught up on tax filings and file the current year on time. If you procrastinate and file an extension for your taxes, it will push back when you receive your refund and how long you have to wait to file your bankruptcy case. The sooner you file your taxes, the sooner you can receive and start spending your refund. It’s also important to spend your refund on reasonable expenses during this time. Consider stocking up on household goods, getting repairs or maintenance you’ve been putting off, or even spending your tax refund to hire your Mesa bankruptcy attorney. For more information on avoiding surrendering your tax refund to bankruptcy, call 480-470-1504 for your free consultation. Rebuilding Credit After Discharging Debt The new year can be a great time to implement new financial habits, including those that will help you rebuild credit after a bankruptcy case. Part of that could be making better decisions regarding your credit card usage. Credit cards aren’t necessarily a bad thing, as they can come with perks and benefits and contribute to your revolving credit balance. However, skipping a month or two of paying off your full balance can make it more difficult to catch up, and you may have significant interest fees. When you receive offers for new credit cards after bankruptcy, make sure you select offers with the most favorable terms and keep your spending in an affordable range.  There may be many opportunities available to you to build a credit history without you even realizing it. Monthly expenses like rent and cell phone service can often provide credit reporting. A post-bankruptcy debtor should be creative and seek out options to build credit with things that are already in their budget.  Paying your auto loan may be a major contribution to your credit history. But if you have the same auto loan after discharging debt in bankruptcy, your auto lender won’t be obligated to report your timely payments to the credit bureaus anymore. They can and will report late payments that can hurt your credit, however. Financing a vehicle, ideally at a better interest rate now that debts have been cleared, will contribute to your post-bankruptcy credit score.  Let Our Skilled Bankruptcy Lawyers Assist You With Debt Relief If you want to start the new year off on a good foot, your bankruptcy can’t be filed with errors and mistakes. Filing bankruptcy without enjoying its full benefits might not be worth the time, effort, and implications for your credit. Let My AZ Lawyers review your situation and inform you about your options. To get started with your free consultation, as well as to see if you qualify for our Zero Down payment options, contact us or call 480-470-1504.    Arizona Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 448-9800 Email: info@myazlawyers.com Website: https://myazlawyers.com/ Phoenix Location: 343 West Roosevelt, Suite #100 Phoenix, AZ 85003 Office: (602) 609-7000 Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 509-0955 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 441-1450 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post New Year, New Start: Should You File For Bankruptcy In 2024? appeared first on My AZ Lawyers.

Thank you.  Two powerful, yet simple words.  As an arbitrator and a mediator, I have so much to be thankful for, which I thought about as I read Dr. Seuss’s Thankful Things. In this story, Thing 1 and Thing 2 from The Cat in the Hat are two thankful things who share with us all that they are thankful for. Thing 1 and Thing 2 are thankful for what each day brings.  Thing 1 and Thing 2 are thankful for things to learn and things to make.  And they are thankful for things to fix the things that break. Thing 1 and Thing 2 are thankful for stories.  And for each other.  They are thankful for many other things. But most of all, Thing 1 and Thing 2 are thankful for you. Thankful Things beautifully captures all that I am thankful for too as a mediator and arbitrator. Just like Thing 1 and Thing 2, I am truly thankful for what each day brings. I am thankful for things to learn.  As both an arbitrator and a mediator, I learn from the parties every day.  I learn about facts and law.  I learn about thoughts and feelings.  I learn about obstacles, options, opinions, and outcomes. I am thankful for things to make.  As a mediator, I help the parties make a path to resolution through settlement.  As an arbitrator, I work with the parties to make a schedule and design a process tailored to their dispute. I am thankful for the ability to fix the things that break.  As both an arbitrator and a mediator, I fix deadlines and problems.  And whether through reaching a settlement in mediation or through the issuance of an award in arbitration, we often fix what is broken and bring closure to the parties. I am thankful you share your stories.  As both a mediator and an arbitrator, I hear your stories, your challenges, and your pain. Just as with Thing 1 and Thing 2, what I am most thankful for is you. Thank you to those who read my writing or watch my videos.  Thank you to those for whom I have had the privilege to serve as mediator or arbitrator.  Thank you for teaching me and learning with me.  Thank you for sharing your stories with me.  Thank you for making things with me.  Thank you for fixing things with me.  And thank you for being you. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Often, these books teach me new ways to approach conflict resolution.  In this case, Dr. Seuss’s “Thankful Things” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. ADR Insights - Thank You The post ADR Insights: Thank You! appeared first on Sylvia Mayer Law.

As a mediator, I often say that I rely heavily on the ABC’s of mediation.  What are the ABC’s of mediation? A:  I am an analyst.  I analyze the facts and the law.  I analyze options, outcomes, and the cues that I receive from the parties. B:  I am a bartender.  Very often in a mediation, one or both parties need to tell their story.  Sometimes more than once.  I listen.  I listen patiently and empathically.  And I listen as often as they may need. C:  I am a chameleon.  I adapt throughout the process.  I may change from room to room or hour by hour in an effort to meet the needs of each of the parties and facilitate finding their path to resolution. So, as a mediator, when I say that I rely on the ABC’s of mediation, I mean that I analyze, I listen, and I adapt.  Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. MMM - The ABC's of Mediation The post MAYER MEDIATION MINUTE: The ABC’s of Mediation appeared first on Sylvia Mayer Law.

They said: This case is impossible to settle.  I responded:  It is only impossible if you don’t try. I am not referring to one specific mediation, but to a commonly identified obstacle to resolution.  Parties often say in frustration “this is impossible.”  But the important thing to understand is that the “impossible” obstacle often isn’t the underlying dispute, but the mindset of those involved.  If you just try, sometimes you can achieve the impossible. To illustrate, let’s consider Tracey Corderoy’s It’s Impossible. In this story, Dog runs a successful laundry service in a busy and noisy city.  Dog also longs to visit the ocean, but it is very far away.  Instead of traveling to the ocean, Dog brings a little bit of the ocean to him.  He sleeps with an ocean nightlight.  He reads ocean tales.  He relaxes in a hammock as if he were on the deck of a ship. One day, Dog buys a new laundry detergent called Ocean Magic.  It is indeed magical.  As the washer runs, the room smells just like the ocean.  Dog loves it. Then, Dog hears something.  He turns and finds a crab in his laundry basket.  Neither Dog nor Crab knows how he got there, but Crab really wants to go home to the ocean. Crab asks to borrow a bike, but his feet won’t reach the pedals.  Crab asks Dog to mail him back, but he would be squashed in the mail.  Crab then announces that he will just walk back, but Dog shows him a map and it is miles and miles away. Dog laments “I’ve always wanted to go to the ocean.  But it’s too far to drive.  It’s impossible.” Crab keeps probing and pushing until, one day, Dog comes home from the laundry to find that Crab has packed Dog’s suitcase and is ready to go.  Dog again protests that “It’s impossible.”  To which Crab responds “It’s only impossible if you say it is. . . Can’t we try?” And that’s just what they did.  They loaded up Dog’s car and off they went on their cross-country road trip.  Along the way, they saw many sights, made lots of new friends, and overcame many obstacles from long and windy roads to fierce winds to downed trees and roadblocks.  Finally, they reached the ocean.  And it was just as magical as Dog had hoped it would be. But all vacations must come to an end.  It was time for Dog and Crab to say goodbye.  Crab wanted Dog to stay.  Dog started to say – it’s impossible – but then he stopped himself and said – it’s only impossible if I say it is.  Dog and Crab now run a magical café on a magical beach at the ocean’s edge.  And they learned that, when they work together, nothing is impossible. So let’s examine this.  Dog’s mindset was it’s impossible.  With help from Crab to explore his concerns, Dog’s mindset shifted to let’s try.  While their journey was filled with obstacles, working together, they overcame these obstacles to make the impossible possible. Which is exactly what can happen in mediation.  The mediation process allows parties to shift their mindset, explore ways to overcome obstacles, and find their path to resolution thus making the impossible possible. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Tracey Corderoy’s “It’s Impossible” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - It's Impossible The post Mediator Insights: It’s Impossible appeared first on Sylvia Mayer Law.

Sometimes we all just need to roar.  By roar, I mean let out our anger.  Anger is an emotional iceberg.  What we see is the angry outburst, but underneath we find the hidden causes like fear, rejection, regret, grief, and more.  In my experience as a mediator, parties often bring anger with them to the mediation.  And sometimes, one of the most important steps in a mediation is to just let them roar. To illustrate, let’s consider Tom Percival’s Ravi’s Roar. In this story, Ravi is the youngest and smallest in his family. Most of the time, he loves being the smallest. But not all of the time. One day he and his family go to the park. They race from their house to the train. Being the smallest, Ravi is left behind. When they get to the park, they play hide and seek. His older siblings hide, but he cannot find them anywhere. They move on to the playground. Ravi is too small to reach the monkey bars. Ravi is too small to jump over the logs. Ravi is too small to go down the big slide. Ravi gets mad. Hoping it will make Ravi feel better, his dad offers to buy everyone ice cream. They run to the ice cream cart and line up. Ravi is last in line. When it is Ravi’s turn, there’s no ice cream left.  Ravi is furious.  In a fit of rage, Ravi turns into a tiger.  He goes wild.  He roars and growls.  Others are scared of him.  He takes their ice cream.  He takes their seats.  He takes over the playground, swings on the monkey bars, jumps over the logs, and slides down the big slide. But no one wants to play with him.  No one wants to be with him.  Ravi is all alone.  Once his anger is spent, he can’t even remember why he got so angry. In a very quiet voice, Ravi says to his family “I’m sorry.”  His family hugs him.  His family accepts him.  Ravi turns back into a boy and the kids go off and play. How does this play out in a mediation?  Let’s examine what happened to Ravi. Ravi felt abandoned when he was left behind as they ran for the train. Ravi felt hopeless when he failed at hide and seek. Ravi felt incompetent when he couldn’t do the monkey bars or jump the logs. Ravi felt excluded when he was too small for the big slide. Ravi felt wronged when there was no more ice cream. Abandoned, hopeless, incompetent, excluded, and wronged.  These are often the underlying hurts driving emotions in a mediation.  So, what do we do when faced with someone who needs to roar?  Let’s follow Ravi’s family’s lead. Space: Anger is a valid human emotion.  We all feel it and sometimes we all just need to get it out.  A safe space to roar may be exactly what someone needs. Do Not Take It Personally: Anger is rarely about the receiver, but instead often masks underlying hurts, so try not to take it personally. The Calm: Once their anger is spent, there is often a quiet calm.  This is an opportunity. Parties often need a safe space to process their emotions in mediation before they are able to move forward and find a path to resolution.  For some parties, that may come out as a need to roar.  Give them space, do not take it personally, and then take the opportunity of the calm to find the path to resolution. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Tom Percival’s “Ravi’s Roar” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - When They Need to Roar The post Mediator Insights: When They Need to Roar appeared first on Sylvia Mayer Law.

Many readers of our blog posts and emails are aware that at Shenwick & Associates, we represent numerous borrowers who have defaulted on or not repaid their SBA EIDL loans. Many borrowers had hoped or prayed that SBA EIDL loans would be forgiven, similar to PPP grants. However, as one Boston lawyer stated, "Hope is not a legal strategy." Borrowers frequently inquire about the actions the government may take if they fail to repay their SBA EIDL loans. If payments are not received by the SBA, the agency will issue a Final Notice of Delinquency and Collection Actions. This notice states that unless you remit the full balance owed or contact the SBA Customer Service Center to discuss repayment options within 15 days from the date of the notice, the SBA may take further actions.Those actions include:1. Acceleration of the entire loan amount being due immediately,2. Interest accruing at the higher default rate,3. A lawsuit against you for the full amount owed,4. Foreclosure against the collateral of the Borrower, as provided in the Loan Agreement and Security Agreement,5. Garnishment of up to 15% of wages,6. Reporting that may disqualify you from obtaining a loan/guaranty from federal agencies,7. Reporting of your name and other information to credit bureaus, which may adversely affect your credit rating,8. Transfer of your account to the U.S. The Department of the Treasury ("Treasury Direct") who will pursue further collection actions, including offsetting any government payments owed to you, 9.Treasury Direct imposes a 30% penalty on the balance of monies owed to the SBA.10. Referral to private collection agencies and the U.S. Department of Justice for litigation, 11. The accruing of “Cancellation of Debt Income” under section 108 of Internal Revenue Code to the Borrower or the Guarantor (on loans greater than $200,000.00), which income is reported to the IRS by the SBA pursuant to a Form 1099-C Borrowers who have defaulted or are contemplating defaulting on an SBA EIDL loan should contact Jim Shenwick, Esq., as soon as possible.Jim Shenwick, Esq  917 363 3391  jshenwick@gmail.com Please click the link to schedule a telephone call with me. https://calendly.com/james-shenwick/15minWe held individuals & businesses with too much debt!--------Other SBA EIDL posts by James Shenwick, Esq.Misuse or Misapply SBA EIDL Loan Proceeds and Chapter 7 Bankruptcy Filings https://shenwick.blogspot.com/2023/08/misuse-or-misapply-sba-eidl-loan.html SBA EIDL HARDSHIP PROGRAM https://shenwick.blogspot.com/2023/07/sba-eidl-hardship-program.html Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue Code https://shenwick.blogspot.com/2023/07/defaulted-sba-eidl-loans-limited.html Offers In Compromise ("OIC") for Defaulted SBA EIDL loans and Section 108 of the Internal Revenue Code ("IRC"), Relief of Indebted Income, a Trap for the Unwary! https://shenwick.blogspot.com/2023/05/offers-in-compromise-oic-for-defaulted.html EIDL LOAN WORKOUTS AND BANKRUPTCY https://shenwick.blogspot.com/2022/07/eidl-loan-workouts-and-bankruptcy.html EIDL Loan Default Questions & Answers https://shenwick.blogspot.com/2022/10/eidl-loan-default-questions-answers.html EIDL LOAN DEFAULT DOCUMENT REVIEW, WORKOUT, BANKRUPTCY FILING & OFFER IN COMPROMISE https://shenwick.blogspot.com/2022/07/eidl-loan-default-document-review.html EIDL Defaulted Loans https://shenwick.blogspot.com/2022/07/eidl-defaulted-loans.html New Relief Program for SBA EIDL Borrowers Who are Having Difficulty Repaying EIDL Loans " Hardship Accommodation Plan" https://shenwick.blogspot.com/2023/05/new-relief-program-for-sba-eidl.html

Do you know who participates in mediation?  People.  People participate in mediation.  Whether for themselves or a business, they are still people.  And many people who participate in mediation are grieving.  Their grief may or may not be related to the underlying dispute.  Regardless, their grief is often palpable and can be a barrier to resolution. When grief is in the room, it is important to allow time in the mediation process for participants to cycle through their grief and become receptive to resolution. To illustrate, let’s consider Gabby Gonzalez’s I Love You Bigger Than the Sky. In this story, Carmen’s beloved grandmother has passed away.  Carmen’s father tells her “You’re grandma has gone to heaven.”  Then her father begins to cry.  Carmen’s response is disbelief.  She thinks – this cannot be. Carmen runs away from her father to a nearby playground.  He follows her.  Carmen yells at him.  “Leave me alone.”  “I don’t want to talk.”  Her father quietly sits with her as she cries. Then, Carmen’s father suggests they go home.  Carmen is reluctant and insists that she will only go home if grandma is there.  But her father cannot promise that. They return home and Carmen cries.  And cries.  Her father comforts her.  He shares that they will always be connected because grandma will be in their hearts forever. Time passes.  Carmen remembers how grandma loved butterflies, flowers, and the sky.  Carmen feels grandma’s love in her heart as she watches the butterflies fly from the flowers to the sky.  Carmen looks up into the sky and whispers to her grandma – “I love you bigger than the sky.” This touching story beautifully explores the five stages of grief and shows the value of giving someone who is grieving the opportunity to move through these stages: Denial – Carmen thinks this cannot be. Anger – Carmen yells at her father. Bargaining – Carmen insists she will only go home if grandma is there. Depression – Carmen cries and cries. Acceptance – Carmen feels grandma’s love and looks to the sky to tell grandma she loves her. Grief may be present in a mediation because the dispute is related to a death or serious bodily injury.  Grief may be present because one or both parties are grieving a business loss related to the dispute as is common in business separations and dissolutions.  Or grief may be in the room if one party has suffered a personal loss that they are still processing.  Even if the loss is wholly unrelated to the dispute, grief can impact the process because it impacts a party’s mental and emotional states. Regardless of why grief is in the room, processing grief takes time, a safe space, and a nonjudgmental and empathic listener.  Mediation offers this. When one or both parties are grieving, take the time to let them cycle through the stages of grief and reach acceptance.  Acceptance leads to receptivity, which allows the parties to find their path to resolution. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Gabby Gonzalez’s “I Love You Bigger Than the Sky” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - The Grief in the Room The post Mediator Insights: The Grief in the Room appeared first on Sylvia Mayer Law.

Toddlers love the word “no.”  Some grownups do too.  I see this in mediations all too often.  One side is stuck on “no” and my job is to help them become unstuck. To illustrate, let’s consider Tracey Corderoy’s No! Otto is adorable.  Everyone says so – his parents, his grandparents, and even the mailman.  But then Otto learns a new word.  No.  He loves his new word so much that he says it all the time. At mealtime, at bath time, at bedtime, and even at preschool. While Otto loves saying his favorite word, sometimes he regrets saying no.  Like when the teacher asked who wants a surprise.  Otto said no.  And everyone else got a cupcake. One day, the kids are on the playground when it is about to rain.  The teacher asks everyone to come inside.  Otto says no.  Otto doesn’t just say no, he says no, no, no, NO!  Otto stays outside.  In the rain.  Otto is alone.  Otto is very wet and very sad. When Otto’s dad picks him up, he realizes something is wrong.  He kneels down and asks – would you like a hug?  Otto starts to say no, but then he rushes into his dad’s arms and says “yes!”  After that, Otto has a new favorite word – yes. Otto missed out on a lot of great things by saying no.  Cupcakes and hugs.  Playmates and playdates.  Otto was alone and sad.  Otto realized that saying no was only hurting him, but he needed a helping hand from his dad so he could shift from no to yes. Otto’s story is a perfect analogy for mediation.  Parties come to mediation because they’ve been saying no.  Perhaps the no was no to even discussing settlement or the no was the rejection of an offer.  Regardless, they begin the mediation stuck on no.  And that’s where the mediation process makes the difference. By exploring the downside of no and the upside of yes, probing the strengths and weaknesses of each side’s position, and giving the parties time to vent, share, and process, the mediator is effectively holding out a helping hand.  Through this process, the mediator helps the parties get unstuck on no and shift to yes.  And that yes then paves the path to resolution. Author’s Note: As a mediator, I am a “forever student” always seeking new ways to help people find a path to resolution in mediation.  As a parent, I have spent a gazillion hours reading books to my children.  Oftentimes, these books teach me new ways to approach conflict resolution.  In this case, Tracey Corderoy’s “No!” inspired this post. Disclaimer:  Nothing contained herein constitutes legal advice nor does anything contained herein create a professional relationship. Mediator Insights - Stuck on No The post Mediator Insights: Stuck on No appeared first on Sylvia Mayer Law.

You can go your own way, go your own way.  (Fleetwood Mac’s Go Your Own Way) (Written by Lindsey Buckingham) This is the last in the “Breaking Up is Hard to Do” nine-part series exploring dispute resolution for business divorces. After working through emotions, grief, and valuation, if unable to reconcile, then business partners must go their own way.  The form of separation varies widely.  There may be a buyout, a separation with a division of the assets or operations, a liquidation and dissolution, or anything in between. Things to consider when negotiating the form of separation include whether to have a clean break or some ongoing connection, forms of compensation, issuance of promissory notes or preferred or nonvoting stock, treatment of personal guaranties, assumption or satisfaction of liabilities, covenants not to compete, consulting arrangements, license agreements, nondisclosure agreements, and retirement and healthcare benefits. Regardless of the form of separation, ultimately, the goal is closure.  Closure moves the parties from uncertainty to certainty of outcome.  Closure allows former co-owners to put behind them the pain, shame, or anger that led to this moment.  Closure puts an end to the mental distraction, emotional toll, time drain, and financial expense of the business divorce.  Closure allows former business partners to move into the future and let go of the past conflict. The economic outcome of the separation may be calculable, but the intrinsic value of closure can be priceless.  With closure, the former business partners can indeed go their own way. Disclaimer: “You’re So Vain, You Probably Think This Song is About You” (written and sung by Clary Simon).  Please note that this series is drawn from over 30 years of experience as counsel or neutral in business separations, reconciliations, and divorces.  Nothing in this series is based on any specific dispute in which I have been involved.  In addition, nothing contained herein constitutes legal advice nor does it create a professional relationship. ADR Insights on Business Divorces - You Can Go Your Own Way (Part 9 of 9) The post ADR Insights on Business Divorces: You Can Go Your Own Way (Part 9 of 9) appeared first on Sylvia Mayer Law.