You Shouldn’t Be Ashamed to Pursue Bankruptcy Due to the Pandemic

The economic destruction from the Covid-19 pandemic continues to unfold in households across the country. People who were once financially stable and capable of paying their bills now find themselves in serious default to a variety of creditors.

Through no fault of your own, you may watch your bank account become depleted as the pandemic continues, leaving you no way to pay your bills. Rather than risk having your income, assets and bank accounts levied or garnished by creditors, you can file for bankruptcy to stave off creditors. You can overcome any shame about filing for bankruptcy directly because of the pandemic by consulting with one of the experienced bankruptcy lawyers in Brighton Beach NY from the Ursulova Law Offices today.

Halting Collection Attempts

While the idea of filing for bankruptcy may seem galling at first, it pales in comparison to the collection attempts that your creditors can take against you. The laws in your state may allow them significant reach to not only garnish your income but also seize your bank accounts and assets like life insurance or retirement savings.

When you file for bankruptcy, however, all collection attempts must come to an immediate halt. Your creditors cannot contact you in any way to demand that you pay your debt. If they do, they could be found in contempt of court.

Reclaiming Your Finances

There is no embarrassment in wanting to reclaim your finances. When you file for bankruptcy, you can eliminate or reorganize debts so that you have more money left over in your budget each month. You can redo your household budget and live more within your means.

The Covid-19 pandemic has caused households across the country to find themselves in serious debt. There is no shame in filing for bankruptcy because of the pandemic, however. You can find out more by retaining one of the bankruptcy lawyers in Brighton Beach NY from Ursulova Law Offices today.