People Are Starting to File Bankruptcy because of COVID-19. You’ll Probably Need an Attorney to Avoid a Trip to the Courthouse.

There is no doubt that the Coronavirus pandemic is wreaking havoc on the economy. Trump’s guidelines for social isolation have just been extended through the end of April. Owners and employees alike of restaurants and small businesses are bracing themselves for an indefinite period of reduced or no income. Especially for those who were in debt before the pandemic started, the government stimulus won’t be enough to regain financial security. With unemployment reaching record highs, it can only be assumed that there will soon be an influx of bankruptcy filings

If you are concerned about violating the self-isolation guidelines to go to the courthouse and file a bankruptcy, you should consider retaining an attorney. Some courthouses only allow attorneys to file electronically. Many courthouses are closed or only allowing a restricted amount of traffic.

If you hire an attorney to file a bankruptcy, you will typically be required to attend three in-person events: your consultation, your petition signing, and your 341 Meeting of Creditors. Our office offers free telephonic consultations so you can discuss the benefits and obstacles of filing bankruptcy. We can also file your case electronically so you don’t have to go down to the courthouse.

341 Meetings of Creditors are currently postponed, and it is unsure if they will be waived, made telephonic, etc. These hearings likely won’t resume until the pandemic has passed. If you are concerned about being infected, or if you don’t have childcare to attend bankruptcy appointments, filing electronically is the way to go.

Your paychecks may have stopped but your creditors can still come after you for your debts. If you are being threatened with garnishment, foreclosure, or repossession, time is of the essence. Call our office today to schedule a free consultation to see if bankruptcy is a good option for you, and discuss the precautions being taken in the bankruptcy industry to prevent the spread of COVID-19.

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