Considering Bankruptcy During The Pandemic?
Making a decision to file for a bankruptcy is not easy even under the most ideal set of circumstances. Making that decision during a global pandemic is even harder. There are some critical items to consider and important information that you need to be aware of if you are facing this difficult decision.
New Jersey Court Delays
When you file for bankruptcy in New Jersey’s Federal Court, there will be constant communication and back and forth involved. Due to these extreme circumstances with Covid-19 that we are facing as a state, it is to be expected that you will encounter delays with the courts. On the upside, although you may face some delays, the good news is that the bankruptcy court is open for business with special consideration to social distancing and accepting filings electronically as well.
Remote Court Appearances
Due to the ongoing coronavirus pandemic, the court is implementing social distancing in the workforce which means that the staff may be limited. In addition, there will be elements of your case that will be handled virtually. Any arguments that need to be made will need the authorization of the judge.
If you are unsure about your bankruptcy filing or upcoming proceedings, it is best to consult with an experienced New Jersey Bankruptcy attorney.
Bankruptcy Filing And Unemployment
In order to qualify for some bankruptcy filings, namely a Chapter 7, you first need to meet the criteria for a means test. If you are currently receiving unemployment or qualified under the Cares Act for special considerations due to Covid-19, your unemployment payments may affect your ability to file. You may end up passing the threshold for bankruptcy or need to change the type of filing.
Get Help With Your Bankruptcy Filing In New Jersey
If you are considering filing for bankruptcy or need help completing a filing, contact me today to learn more about how I can help you.