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What We're Reading About Bankruptcy and the Coronavirus

Selected Articles about Bankruptcy and the Coronavirus

The best of what's out there on the web about how to use bankruptcy law to protect your assets during the Covid-19 recession.

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Bankruptcy as Part of Your COVID-19 Financial Plan
 
Can Bankruptcy Keep Me From Being Evicted in Illinois?

Updated: 2020-06-22 by

The Coronavirus shutdowns have thrown many people into economic peril.

Many writers have written about how people can use bankruptcy to  may play a role in prudent financial planning in the months ahead.

Funny how history repeats itself. In the last recession, a lot was written about whether bankruptcy makes sense for people, in light of an economic downturn, including these articles:

However not every recession is the same, and this one has a ways to go. No one knows yet the long lasting economic impact of this pandemic.

But as stimulus packages lapse and moratoria end, there may be a time when bankruptcy is the only safety net left. So it doesn't hurt to understand how it works, and what you can and can't do, and should and should not do, in the year before you file.

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You may also be interested in:

  • Bankruptcy as Part of Your COVID-19 Financial Plan

    Consumer bankruptcy filing reached a 34 year low in 2020, because forbearance and other programs prevented the normal collection efforts, like wage garnishment and foreclosure, — the things that usually prompt people to recognize how dire their situation is — prompting them to file. Whether the timing for filing for bankruptcy is now or later, the time to talk to a bankruptcy attorney IS NOW, so you can take full advantage of the financial protections that bankruptcy law can provide, and avoid common financial mistakes in the year to 18 months before filing, that may cause you to lose assets you could otherwise keep in bankruptcy.

  • Can Bankruptcy Keep Me From Being Evicted in Illinois?

    Can bankruptcy help stop an eviction? Well, it can delay it, for an extra month or two, in some cases, in some states, if you file early enough in the eviction process. And bankruptcy can be part of a broader financial strategy to keep a roof over your head. But you'll want to see a lawyer sooner rather than later to take full advantage of your options.

  • LC Bankruptcy Newsfeed

    What We're Reading about Bankruptcy, Debt and Credit. Timely, useful articles, from reliable sources.

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Connect With an Illinois Bankruptcy Attorney

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Perry County, IL: Law

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