Bankruptcy Chapter 7… After The Coronavirus

Laid Off Due to the Coronavirus (COVID-19)? Bankruptcy Chapter 7 May Help You. 

No one wants to file for bankruptcy. But if you’re one of the millions laid off because  of the Coronavirus pandemic, filing a Bankruptcy Chapter 7 may be what you need to  do…especially if your debts have mounted.  

Losing your job due to the pandemic means one critical thing for your family… there’s  less money to pay the bills. No matter how much effort you put into cost-cutting  measures like turning down the thermostat or eating in, these actions, although they can  help a little, rarely stop your unpaid debt from continuing to grow. 

Fortunately, local, state, and federal governments, along with many creditors, are  working hard to provide safety nets during the COVID-19 crisis. And for many, cash  payments and increased unemployment benefits will do the trick—especially when  coupled with the mandated holds placed on evictions and utility shut-offs in many areas. 

Even so, it’s unlikely that these measures will keep everyone afloat if the crisis lasts  longer than expected. So an emergency back-up plan may become necessary. 

Money you received from the Federal Government’s Stimulus Relief may have helped  you… but for most people, it was only a temporary help. These Stimulus payments  were helpful in the short term, but for most, they didn’t go as far as was needed.  Evaluating your current bills and the money you have available to pay them is essential  at this time… before your family’s financial security is depleted.  

Bankruptcy Chapter 7 can help you keep retirement savings deposited in a 401(K) and  other retirement accounts. Also, the Bankruptcy Code allows for certain exemptions  that you can take to protect some of your assets… And your residence in Florida is  protected as well.  

Your East Orlando Bankruptcy Chapter 7 attorney can review your financial situation  with you… and guide you in this decision! Call The Mendez Law Firm at (407)380- 7724. The consultation is FREE, and there is NO obligation.  

Conveniently located in the East Orlando area. Call The Mendez Law Firm TODAY at (407)380-7724 to schedule your FREE Bankruptcy Chapter 7 consultation. Copyright © 2020. The Mendez Law Firm, L.L.C. All rights reserved.