COVID-19 Chapter 7 Bankruptcy Lawyer Melbourne, FL
Are You Experiencing Financial Challenges Because of Covid-19?
The coronavirus has affected every American. Many people have lost their jobs, became ill with the virus, or sadly lost their life. As a COVID-19 chapter 7 bankruptcy lawyer in Melbourne, FL, we have received an outpouring of calls from people who are unable to pay their bills. They want a fresh start.
We want you to know that it may be possible to file for chapter 7 bankruptcy during COVID-19. If you meet the requirements, you can proceed with the process, even while abiding by social distancing protocols and executive orders that may be in effect at the time.
We are prepared to review your case with little to no in person contact. Your consultation can take place via Zoom, phone, or other digital platform. Documentation can be submitted through email, U.S. mail, or courrier. At this time, many state bankruptcy courts are accepting filings electronically. The 341 Meeting of Creditors is still mandatory, but are typically being held telephonically, through the phone, Zoom, or other digital methods to limit any face to face interaction.
If you have been affected by the coronavirus, and need a fresh financial start, let a COVID-19 chapter 7 bankruptcy lawyer in Melbourne, FL talk with you.
COVID-19 Financial Challenges
Financial hardship can happen for a broad number of reasons, including unemployment, underemployment, medical care, illness, family obligations, business loss, and more. Today, more than ever, times are particularly difficult. COVID-19 has torn through the world economy, and caused an immense amount of suffering.
Should I File For Chapter 7 Because of COVID-19?
Chapter 7 bankruptcy may be a viable solution if you have been affected by COVID-19. Before you take action, with the help of a COVID-19 chapter 7 bankruptcy lawyer in Melbourne, FL, you should consider a few things.
Have You Sought Help Under the CARES Act?
Depending on your situation, you might benefit from the CARES act. If you are self-employed, and make less than $75,000 per year, there are provisions for extended unemployment insurance through the state, as well as loan programs for business owners and independent contractors.
If I File, Will My Situation Improve?
If you made $0 before you file, you will make $0 after you file. In other words, bankruptcy will help to eliminate certain debts, but it won’t change the current situation. You will still be responsible for your living situation right now. Bankruptcy does not change your income. If you believe you will generate enough income to live on in the near future, filing bankruptcy during the coronavirus might not be right for you.
You Can’t File for 8 Years
You don’t know what is going to happen next month, or in the next few years. If you file for chapter 7 bankruptcy now, for COVID-19, you will not be able to file again for 8 years. This means if you, for example, fall ill with COVID and your medical bills are not covered, you will be responsible for anything that is not covered by insurance. Bill collectors could have at least 8 years to recover payment. In other words, any debt accumulated after filing will not be eliminated. You will be responsible for paying it. You should make sure that this is the right time to file.
If you are unsure about whether chapter 7 is right for you, or if there other options for relieving debt during COVID-19, please call a COVID-19 chapter 7 bankruptcy lawyer in Melbourne, FL at Arcadier, Biggie & Wood, PLLC today.