COVID-19: Aid to Vulnerable Businesses Announced Many businesses in York County and across the Commonwealth have already been deeply impacted by the COVID-19 pandemic, as so many businesses have been forced to close their doors. The Pennsylvania Industrial Development Authority (PIDA) has already stepped forward to announce assistance in the form of working capital loans. These loans are available in amounts up to $100,000 with an interest rate as low as 0%. The loans are targeted to for-profit businesses with less than 100 full-time employees. Eligibility will require the applicant to demonstrate that they have spent an amount equal to… read more »
How Bankruptcy Actually Improves Your Credit
Article by: Haley Rohrbaugh, Esquire A common misconception about Consumer Bankruptcy is that it devastates your credit. When I meet with potential clients for an initial consultation, most are surprised to find that a Bankruptcy filing will actually improve their credit score. Credit limit usage. Using more than 50% of allowed credit limits will negatively affect a consumer’s credit score. (For example, a credit card with a $1,000.00 credit limit holding a balance due of $500+ will cause credit scores to decrease); and Debt-to-income ratio. Having high levels of debt compared to household income will also decrease credit scores. However,… read more »
