Filing a Bankruptcy during COVID-19 / Coronavirus - Dennis B. Dahlberg
The $2.2 trillion coronavirus relief package (CARES ACT), was enacted and signed on March 27, 2020, and saw payments go to millions of Americans. The one-time payments included $1,200 per adult, $2,400 per couple, and $500 per child. Individuals making $75,000 or less qualify to receive a check, or $150,000 per couple. Loans that provided for a measure of “forgiveness” were also made available to small businesses – however this program quickly ran dry for many small businesses as many of these loans were gobbled up by larger businesses that they were not intended for under the Act. These payments may have provided some temporary relief for many Americans.
However, many Americans found that either the relief that was offered was not enough, that the unemployment compensation they applied for was woefully delayed, or never came forth, or even with a small business loan they were forced into dipping into their own funds to attempt to save their business. If you feel as though you have exhausted other avenues, you may want to consider filing for bankruptcy. Bankruptcy is a legal process, and we have seen times when this is the right move. If you feel that this might be your only option, please contact our office to speak to one of our reputable bankruptcy attorneys.
There are many factors one should consider when filing a bankruptcy as either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. The purpose of a bankruptcy is that it enables an honest debtor to obtain a fresh start. The bankruptcy code, then, while allowing a debtor to achieve a fresh start, attempts to balance the creditor’s rights to collect their debts while still assisting the debtor to start his or her financial life on a new path.
Even during this difficult period of time, our firm stands ready to assist you with filing either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. Due to many relaxed regulations during the current pandemic, we are able to complete our meetings remotely with our clients, from the initial consultation phase all the way through your hearing with the local bankruptcy trustee, either via telephone conference or a Zoom meeting.
We can exchange documents via email, fax, or via USPS / FedEx, etc., and alleviate any fears of having to meet in person. Currently, our local bankruptcy trustees are holding their hearings via telephone conference calls with bankruptcy petitioners and his / her attorney. Therefore, currently, you are even able to avoid a trip and a hearing at a Federal courthouse and can have your hearing from the comfort and safety of your own home or office.
To decide which bankruptcy is right for you, it is important to consult a bankruptcy attorney before proceeding. To get the facts and find out if bankruptcy could work for you, please contact our office at 614-670-8103 for a free consultation with one of our bankruptcy attorneys or visit us at www.dsflawfirm.com.
- Dennis B. Dalhberg, Esq.