Austin bankruptcy attorney Amy Wilburn from Lincoln-Goldfinch Law explains how the Silicon Valley Bank crash affects account holders and their savings.
In an informative video uploaded on LGL’s Facebook page, Amy talks about the Silicon Valley Bank situation. Many people are wondering how this impacts the savings of the average depositor.
Amy stated that the Federal Deposit Insurance Corporation (FDIC) covers only deposits up to $250,000. This means that those with deposits below that amount are safe. Their savings will not be wiped out as the FDIC insures them.
Amy emphasized the importance of staying within the deposit insurance limit and choosing a stable financial institution. Those with savings below the limit do not have to worry for the most part, as any crash won’t wipe out their money.
For those in doubt, talking to a certified financial planner or experienced attorney is crucial. They can guide people who want to ensure that they deposit their funds somewhere safe and secure. They can also assist in planning for what to do in case of a crash.
Amy Wilburn is a seasoned bankruptcy attorney from Lincoln-Goldfinch Law. She obtained her degree from the Seattle University School of Law in 2014. Since then, she has been helping individuals with concerns about bankruptcy and its complex process. Amy provides legal advice to guide them through bankruptcy and develops solutions for dealing with financial matters.
Lincoln-Goldfinch Law is an award-winning bankruptcy firm based in Texas. They serve individuals with differing needs to help them manage their finances and get a fresh financial start. The seasoned lawyers at the firm are committed to providing legal counsel to people who may be having trouble with financial hurdles.
The bankruptcy attorneys at Lincoln-Goldfinch Law have an in-depth understanding of the difficulties of financial troubles. They believe that everyone deserves a clean slate to help them get their finances back in order. Whether it’s Chapter 7 or Chapter 13 bankruptcy, the firm is here to assist.
Visit Lincoln-Goldfinch Law‘s office along 1005 East 40th St., Austin, TX 78751, or call them at (855) 502-0555 for a free evaluation.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No People Reportage journalist was involved in the writing and production of this article.