On March 11, the financial status of many individuals and businesses changed, as most States imposed “Shelter in Place” and “Stay-at-Home” Orders to stop the spread of the coronavirus. Unemployment filings increased weekly since the beginning of the pandemic. With increasing travel bans, business closures, cancellations of major events, restrictions on a wide range of activities, and turmoil across global stock markets, the United States economy plummeted due to the impact of the outbreak.

Currently, many States have decided to ease restrictions and allow businesses to restart. The economy seems to be in recovery, however, the financial toll caused by the pandemic may not necessarily mean a recovery for you or your business. While the hardships caused by this pandemic may result in difficult financial circumstances, the law provides mechanisms for your personal and business relief.

The United States Bankruptcy Code offers a financial solution for you or your business if you are drowning in debt, at the end of your means or just need a fresh start. Whether your financial situation resulted from or escalated as a result of the coronavirus, a Chapter 7 or Chapter 13 Bankruptcy filing can provide the relief you need and provide a brighter future.

Bankruptcy often allows you to eliminate or restructure your debt, without sacrificing any of your most important assets. By retaining the Law Office of Eric K. Jackson, PLLC, you are putting yourself in a position to stop creditors from pursuing harassing means of collection. Bankruptcy also provides the means for eliminating other negative consequences of overwhelming debt.

Some of the best things about filing for Bankruptcy protection are that it stops the following:

  • Bank levies
  • Creditor/debt collector harassment
  • Evictions
  • Foreclosures
  • Lawsuits
  • Repossessions
  • Tax collection*** (Varies based upon the type of tax)
  • Utility disconnections
  • Wage garnishments
  • Consolidate debt into one low monthly payment
  • Eliminate some or all interest
  • Protect Assets