COVID-19 and related issues
FINANCIAL IMPACT OF COVID-19
We are navigating unprecedented waters with COVID-19 and the attempts to slow the spread. For many, the restrictions are reducing their monthly income, some more than others. If you find yourself in a troubling financial situation due to COVID-19 (hopefully temporarily), you may be entitled to some relief.
Many credit card and mortgage companies have advertised their willingness to modify payments during this time of need. Reach out to your creditors and be proactive. You are your own best advocate. Also, keep in mind there is a 90-day moratorium on foreclosures in place as well. Before you consult an attorney about filing bankruptcy, exhaust these recourses. You may find that you don’t need to file bankruptcy.
If you are already in a Chapter 13 Bankruptcy and cannot make your monthly Trustee payment, call your attorney. The local Bankruptcy Court has issued some General Orders that may offer you some relief.
Again, be proactive and let your creditors and/or your attorney know that you are concerned about your financial well being, and that the current state of affairs has impacted your ability to pay your bills. The last thing you want to do is just ignore them by not paying.
Another potential option for small businesses in financial trouble due to the "Stay at Home" orders is “Go Fund Me”. A number of small businesses are starting up Go Fund Me pages requesting financial help to keep them afloat during these unprecedented times. Be creative; you never know who might donate to your cause.
Additionally, there are a number of lenders and credit card companies offering relief. Here are just a few:
· Ally Financial customers can defer their loan payments and mortgages up to 120 days.
· Bank of America is offering deferral of Small Business Loan, mortgage, auto, personal and home equity loan payments.
· BBVA is offering credit card payment deferrals and extensions.
· Capital One is offering deferred loan assistance.
· Chase has a hotline available for its mortgage holders 800-848-9380
· SBA is offering Economic Injury and Disaster loans
· Citibank is offering a hardship program for holders affected by the COVID-19.
Keep in mind that these offers defer payments and do not eliminate them. Depending on the arrangement, the deferred payments may come due at the end of the deferment period, interest may still accrue, or the payments may be put at the end of the contract. Do your research!
If you have exhausted all resources and feel that bankruptcy may be your only option, our offices are offering Zoom, Skype and telephonic consultations.
Video Conferencing Available
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy
Consult legal advice to determine if you qualify.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy
For income earning consumers or for those who do not qualify for Chapter 7 debt relief. Consult legal advice to determine if you qualify.
Debt Defense
Debt Defense
Debt Defense
For consumers who have been sued by one creditor and do not feel that bankruptcy relief is appropriate.
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Debt Defense
Debt Defense
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