Our global economy is faced with an unprecedented event that has shaken it to its core. COVID-19 has turned life upside down and left millions struggling to make ends meet. If you were previously on shaky financial ground, unless you make or sell a precious commodity, your situation likely went from bad to worse. Governmental assistance programs may have provided some help, but these efforts can only go so far.
With many sectors of the economy shut down or severely weakened, your income may be lessened or lost entirely. You may be struggling with finances and looking for debt relief. You may even be considering filing Chapter 7 or Chapter 13 bankruptcy if you are faced with:
- Credit card bills you cannot pay
- Difficulty paying your mortgage or rent
- Unable to make student loan payments
- Facing bankruptcy for your business
- Lack of funds to cover monthly bills
Small businesses are also suffering. Business owners may be unsure of what to do with their equipment, loans, lease payments, and even their assets. If you own a small business, you may be thinking of filing Chapter 11 bankruptcy due to the effects of COVID-19.
Creditors are doing their best to work with those trying to meet their obligations. If your financial troubles began with COVID-19, you may be able to stay afloat if stay at home restrictions are lifted soon and the economy bounces back quickly. But the future is uncertain and no one can say exactly when life will get back to normal.
At the Law Offices of Bill F. Payne, P.C., we are poised to help you find a positive path forward in these difficult times, digitally, remotely, and securely. With more than 30 years of bankruptcy law experience, we can help you determine the best course of action and whether bankruptcy is the right solution. If you are considering personal or business bankruptcy during the COVID-19 crisis, contact us for a free consultation to determine how bankruptcy could help you overcome the difficulties ahead.