Is Bankruptcy The Solution For Coronavirus-Related Debts?
The COVID-19 pandemic has stretched businesses and household budgets past their breaking point. Whether you have accumulated medical debt as a result of a COVID-19 infection or the economic crash has resulted in a lost job or reduced income, you may be considering seeking relief through the bankruptcy process.
There are pros and cons to filing bankruptcy to wipe your slate clean, and the right choice will depend on factors that are unique to your circumstances. In the Denver area, you can rely on the Law Firm of Ronald S. Dee for insightful guidance for your debt relief needs. I will help you get the financial relief you need, so you can move forward with peace of mind about your future.
Bankruptcy May Not Be The Right Answer For You
You may not expect to hear this from a practicing bankruptcy attorney, but it is important to recognize bankruptcy for what it is and what it is not. It is a useful tool that has helped many individuals, families and businesses get out of debt, restructure their finances and get a fresh start. However, it is not a magic bullet. It can have lasting implications for your credit rating, affecting your ability to get loans and make the most of your long-term finances. It is important to make sure the potential reward is worth the potential risks.
Debt Relief Options For Pandemic-Related Losses
It is important to understand all of your available options so you can make an informed decision. Depending on your circumstances you may have options such as placing student loans in deferment, signing up for unemployment benefits, and obtaining relief funds through government programs and loans. It may also be possible to work with your creditors to restructure your payment plan so you can avoid falling behind on your bills during this period of economic disruption.
Plan Ahead Now For The Possibility Of Bankruptcy
Failure to plan is planning to fail. Whether bankruptcy is your first choice or your last resort, failure to consider your options now can result in a rushed decision that does lasting harm. I have been representing Colorado families and businesses for more than 30 years and can make sure you are prepared to make an informed choice.
Call me today at 303-731-6199 or send me an email to set up your free initial consultation. I can make appointments in convenient locations at flexible times and work with you to find a payment plan that fits your needs.