With all of the concerns about Covid-19, it is important to keep in mind that you have a lot of resources at your disposal that might not be obvious on the surface. A lot of people's lives have been affected by the virus. Restaurants are closing and airlines/travel industry is taking a hit.
For us in the legal field, we are seeing courts closing, and hearings being cancelled or rescheduled. Everyone's lives are being disrupted, whether we have a direct link to the virus or not.
Obviously, we are all taking precautions as recommended by the medical professionals, however, life still goes on, and there will be issues that cannot be put on hold.
If you are experiencing difficulties, be sure to reach out before things get out of hand. You should speak to your financial advisors about money matters, and if you have been hit financially, by the preventative measures, you should speak to an experienced attorney.
For our part, we are seeing a lot of people who are being proactive about their financial situation and seeking our help because they were living a bit too close to the margin, and it only took a small financial bump in the road to put them on the path of being unable to pay their bills.
If you are experiencing a temporary lay off, reach out to your credit card companies, because many have programs to defer payments during exigent circumstances. If you have outstanding medical debt, but are unable to pay because of a shutdown in your industry due to Covid-19, call the billing department of the hospital or clinic, because they can often defer or even negate payments under certain circumstances.
Whatever you do...do not let your financial situation get to the point where things go into collections, or people are filing lawsuits against you. If things get really bad reach out to an experienced Bankruptcy firm like our own so that we can advise you as to the best course of action.
Everybody should expect a certain amount of disruption in their lives. We have gotten used to products and services being available on demand, however Covid-19 has taught us a valuable lesson about being prepared. We hope that things get back to normal soon, but if you or someone you know has been affected financially, do not wait to speak to someone.