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Jill on Money with Jill Schlesinger

Coronavirus: File for Bankruptcy?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.61.8K Ratings

🗓️ 16 April 2020

⏱️ 13 minutes

🧾️ Download transcript

Summary

Although we get a lot of emails from people in fortunate positions, things are incredibly tough for many, many people. Many have gone from having a good life to all of sudden trying to decide whether or not they should file for bankruptcy. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0

Welcome to the Jill on Money Coronavirus Market Update. It is Wednesday, April 15th, the day that you should have been filing your tax returns, but you don't have to.

0:16.0

It is coming up in your feed on Thursday morning, and as we might have expected, the big news of Wednesday was retail sales, which were terrible.

0:29.2

March retail sales, 8.7% drop from the prior month, 6.2% from a year ago, but here we go. Here's the real issue.

0:40.0

We saw food services and drinking establishments down by 23% from a year ago.

0:45.7

Auto sales down almost 24%. Same with department stores, furniture stores,

0:50.4

gas stations down 18%. The worst sector, clothing and accessories down 50.7%.

0:59.0

The bright spots, grocery stores of, up nearly 30%.

1:04.0

Building materials and garden supplies.

1:05.7

I guess we just need to get out in the garden

1:07.4

because maybe that's a good thing, up 7.6%

1:10.4

from a year ago.

1:11.4

Health and personal care stores up by 4.3 percent.

1:16.0

I think these numbers are just going to keep getting worse and worse for a little bit here.

1:19.6

So hopefully, hopefully we will be able to get the economy back on its feet eventually but right now

1:28.7

listen the news is grim sorry to to say. Okay, so, grim news, that's what I want to be the Grim Reaper, sorry about that, but you guys, I know, have questions,

1:40.0

you have concerns, so let's get to those questions. If you are struggling, even if you're

1:46.0

doing well, I don't care, if you've got a financial or a money question, just send us an

1:51.3

email. It's Ask Jill at Jill on Money.com.

1:55.0

Ask Jill at Jill on Money.com.

1:58.5

Victor writes, he's 67 years old and he was a waiter in DC making good money before the pandemic hit.

2:06.4

He writes, I was able to pay credit cards, car payment, mortgages, no problem.

2:10.8

On March 21st, my world collapsed, no job. I decided to file for bankruptcy protection.

...

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