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August 2020
Greetings!
   
We have exciting news! Jen Lee Law, Inc. has a new Senior Associate Attorney joining our team this week. Leo Spanos officially started with the firm on August 17, 2020. Leo joins us after spending more than 10 year at the Oakland Chapter 13 Trustee’s office, most recently as a Senior Staff Attorney. He brings a wealth of knowledge about Chapter 13 to our team. Check out his profile below and on our website.
 
Many people are surprised to hear that bankruptcy filings are actually way down over previous years. The news often highlights the big corporate bankruptcies and those types of filings are up with the current economy, but individual filings are down by more than 30% and are at the lowest level in many years. The main reason for that is the initial unemployment bump and stimulus funds under the CARES Act. Also, many people are still trying to figure out where their finances will end up during this very chaotic time. We’ve included some updated resources and articles about bankruptcy filings this month.


Thanks,
Jen 


Thank you for reading and please feel free to forward our newsletter to any friends, colleagues, or family members who may be interested in learning more about debt, credit, and solutions to financial stress.
Welcome to the team!


We are so excited to welcome Leo Spanos to the team at Jen Lee Law. Find out more about Leo below.
MY DEBT THERAPY PODCAST
Season 1, Episode Refinancing

The most common loan you hear about refinancing is a mortgage. Back in the 80s, mortgage rates were normally around 15%. But today, the rates are hovering around 3%-4%. It makes it very desirable to refinance.
NEWS ARTICLES
Bankruptcy Filings Fall 11.8 Percent for Year Ending June 30
by United States Courts
Despite a sharp rise in unemployment related to the coronavirus (COVID-19) pandemic, personal and business bankruptcy filings fell 11.8 percent for the 12-month period ending June 30, 2020, according to statistics released by the Administrative Office of the U.S. Courts. Annual bankruptcy filings totaled 682,363, compared with 773,361 cases in the year ending June 2019 (read more).
Chapter 11 U.S. Commercial Bankruptcies up 43% in June
by Epiq
Epiq, a global leader in legal services, released the June 2020 bankruptcy filings statistics today from its AACER business. Notably, commercial Chapter 11 filings are up 43% over June of last year, with 609 new filings, up from 424 from the same period last year. For the first half of 2020, total commercial Chapter 11 filings are up 26% with 3,604 new filings, up from 2,855 from the same period last year (read more).
RESOURCES
Protecting Your Finances During the Coronavirus Pandemic
Consumer Finance
The CFPB is committed to providing consumers with up-to-date information and resources to protect and manage their finances during this difficult time (read more).
Coronavirus Resources
Federal Trade Commission
Resources found here.
A caring approach to debt and credit strategy.
SERVICES
SPEAKING ENGAGEMENTS-


Women, Finances, and Credit Scores
October 10, 2020 at 9:15 a.m. PST
ABWA Bay Area Business Express Network


To schedule a speaking engagement with Jen,


This is just a basic overview and is not legal advice specific to your situation. If you have questions about your rights when it comes to debt and credit, you should speak with an attorney in your area for legal advice. If you live in California or North Dakota and would like to speak with Jen Lee Law regarding your situation, please schedule an appointment on our scheduling site.