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Should I Declare Bankruptcy During COVID-19?

Bankruptcy and COVID-19

We get it. COVID-19 did more than make people sick with a virus, it broke our economy and it put you and millions like you into risk of default on your mortgage and other payments. You’re experiencing financial hardship. Maybe you lost your job. Maybe you were put on furlough and you are only now getting back on your feet. You could have filed for forbearance and now the bank asking you to start paying again.

Should you file for bankruptcy?

If you can, you should wait. Give yourself as much time as you can. There is some small hope that the government will create some kind of stimulus or forgiveness plan to prevent the same kind of crash we saw in 2008. In unprecedented times like these, unprecedented actions could take place by the government. Perhaps Washington will remember the old adage that a government is supposed to be by the people and for the people.

Whatever happens, do your best to delay bankruptcy for now. If a stimulus or forgiveness package does come through and you already declared bankruptcy, guess where all that stimulus money is going to go? It goes straight to the bankruptcy court to pay your creditors.

What if you’ve already declared bankruptcy?

We can still help you.

At Jacobs Legal we will fight for you no matter what. We have been on both sides of the court in our over 22 years of experience. We have been on the prosecutor’s side and now we are on your side. If anyone wants to try and take you out, they are going to have to fight very hard, because we will fight harder.

We use every procedural mechanism in our power to defend you and hold the bank to the burden of proof. Often other attorneys call us zealous because we are such strong advocates for our clients. We believe that this is how it’s supposed to work.

Call us today if you have declared bankruptcy or if you are in dire circumstances. We will help you look at all of your options and fight for your borrower’s rights. Don’t give up hope, the law is on your side.

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