2020 was more than just a bad year. It was truly devastating in terms of health and finances—and not just to the US, but the rest of the world also. Few of us could have been prepared for the sudden onset of a viral pandemic affecting so many friends and loved ones—and also our finances.
While almost half of Americans lost their jobs, had hours cut, or experienced income loss—far too many also lost their health insurance and are close to or are filing for bankruptcy due to overwhelming medical bills. Previous to COVID-19, medical bankruptcies were already all too common—but the havoc wreaked by the coronavirus has brought physical and financial duress to a new—and extreme—level.
According to recent news, data shows that the burden is especially heavy in Hispanic, Black, and Native American communities.
Nearly half polled for a recent report said that they had to use “all or most” of their savings due to financial issues related to the pandemic. This is not uncommon across the US either, as so many Americans were already living paycheck to paycheck, with repercussions from COVID-19 making money problems exponentially worse.
“More than 1 in 3 households that include someone with a disability said they had trouble buying food and paying for utilities,” states the report by NCIOM. “More than 1 in 3 households that include someone with a disability said they had trouble buying food and paying for utilities.”
On top of that, as the courts have begun opening back up, and creditors and debt collection agencies are back on track with aggressive collection activity, many now find themselves served with summons and complaints. If this has happened to you, do not sweep these problems under the rug! Work with an attorney as soon as possible to answer to any lawsuits and strive to fend off the potential for worse problems.
Without any action, a default judgment may be granted against you. This means you have opened yourself up to wage garnishments, levying of property, and loss of control over financial accounts.
Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at email@example.com.