While the biggest concern most people have during the coronavirus crisis is to remain healthy and prevent exposure to the coronavirus, the economic impact is a close second. The coronavirus pandemic has, unfortunately, left many people out of work and many businesses closed for the foreseeable future, with unemployment estimated to rise as high as 30%. This means, through no fault of their own, many people have been left in dire financial straits, and potentially in need of bankruptcy protection.
The coronavirus, otherwise known as COVID-19, is a highly infectious disease that has already resulted in hundreds of thousands of infections and thousands of deaths in the United States. To curtail its spread, most states, including New Jersey have implemented emergency measures, initially shutting down and only gradually reopening nonessential businesses. Unfortunately, this has shut off many people’s sources of income, with no realistic way of making up the difference in the meantime, especially given the strain on New Jersey’s unemployment benefits system.
Additionally, most nonessential court proceedings have been delayed in New Jersey and in-person court hearings are only being conducted in emergency situations. The courts are slowly increasing capacity for bankruptcy proceedings, including creditors’ meetings with bankruptcy trustees, to be conducted virtually. You may still consult with a bankruptcy attorney to understand your potential options, and how bankruptcy protection might benefit you and your family. With the financial strain caused by the coronavirus, many people are going to need the help, and there is no shame in seeking assistance due to an unexpected crisis.
The attorneys at Hunziker, Jones & Sweeney understand that financial distress is an extremely emotional and difficult time for anyone to go through, whether as an individual or as a business. Although our offices are presently closed to the public, our attorneys are available for remote consultation. If you are experiencing severe financial distress and may be considering bankruptcy as an option, or want to know more about what a bankruptcy filing may do to help you or your business, call The Law Offices of Hunziker, Jones & Sweeney at (973) 256-0456 or fill out our contact form for a consultation.