Has the COVID-19 Economy got You Down?

The spread and onslaught of the COVID-19 pandemic have put many businesses and individuals in a position of serious financial hardship.  If you were close to the brink before this pandemic made it to the US, you may be in a situation now that requires you to file for bankruptcy.  If this is the case for you, it’s time to find out what you can do and whether or not there were safeguards put in place during this pandemic to help you.  The team at Ronald D. Weiss, P. C. Attorney at Law will help you figure out what your options are.

The CARES Act Increases Your Protection

The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law in March and gave emergency assistance to many families and businesses that were affected by the pandemic.  This was certainly an impressive step forward for families that needed help, but the CARES Act did much more.  This act also addressed necessary changes to the Bankruptcy Laws to make it easier for those who needed to file to be able to do so and continue to live their lives.  This pandemic has caused many hardships and the government is trying to soften the blow.

Your Small Business Can File Much Easier

If you’re going to file for a COVID-19 Bankruptcy because your business was negatively affected by this virus, it’s much easier than before.  Your Chapter 11 filing can be completed and benefit you in the end.  To understand what will happen and the timeline associated with your filing, you need to let the team at Ronald D. Weiss, P.C. Attorney at Law show you what your options are.  With their help, you can get out from under the mound of debt you’ve been dealing with and begin your life again.

Chapter 7 and Chapter 13 Changes

When you need to file Chapter 7 Bankruptcy, you don’t have to include any of the extra federal assistance to the amount of income received.  This means you don’t have to list the additional unemployment money you received when you lost your job.  This can make a huge difference in how you qualify and what’s calculated as your responsibility.  When filing Chapter 13 Bankruptcy, if you suffered a COVID-19 related hardship, you’ll have seven years to repay your debt instead of the five that’s normally part of this program.

Let the Experts Help You With Your COVID-19 Bankruptcy

Are you under a mound of debt with little to no income right now?  Are creditors beating down your door to get money from you that you don’t have?  It might be time to consider a new start with one of the bankruptcy programs available to you.  Contact the legal experts at Ronald D. Weiss, P. C. and let them get to work for you today.  This team understands the new Coronavirus Bankruptcy changes and can help you have the relief you need and a fresh start.

For more details contact us now :- https://www.ny-bankruptcy.com/services/bankruptcy-solutions/bankruptcy-chapter-11/