Laid Off or Fired Due to the Coronavirus (COVID-19)? Bankruptcy Can Help.
Our entire team of bankruptcy lawyers and attorneys at Schmidt National Law Firm are gravely concerned for the well being of all Californians affected by the Coronavirus (Covid-19) pandemic. We understand that this isn’t your fault, but the fault of our elected leaders shutting down the economy.
This is an unprecedented time in California and Governor Newsome has presented some staggering unemployment numbers across all of California.
In his own words Governor Newsome said the Covid-19 pandemic affects on unemployment have “Skyrocketed”, and “Unemployment numbers” in California “will be north of 20 percent,” from a recent briefing. He also stated “Getting closer to 22, 23, 24, 25 (percent),” is “very likely.”
So far California residents have filed a record braking 4.5 million unemployment claims since mid-March, when the state began the business shutdowns. This number now represents 23.3 percent of the current workforce of 19.3 million.
California hasn’t seen this level of unemployment claims being filed since the Great Depression in 1933. During this era the nation’s unemployment rate hit 24.9 percent.
Since the state decided to close most businesses, you had no choice in the matter. If your business has been shutdown or you’ve been laid off, fired or furloughed, we understand your concerns and we are 100% here to help with bankruptcy solutions that will hopefully give you some relief during this economic disaster.
To compound this problem Governor Newsome hasn’t given California residents any set timeframe in which to re-open businesses across the state. It could be weeks, and this will contribute to more people filing for bankruptcy throughout the state.
There are two types of bankruptcy solutions to choose from, Chapter 7 and Chapter 13.
Chapter 7 bankruptcy after being fired or a layoff?
Chapter 7 is generally known as a liquidation type bankruptcy that removes most unsecured debts like credit cards or medical bills, with no need to pay back balances through a repayment plan. Keep in mind the entire process may take up to four months to complete. Check with us for details on how a Chapter 7 bankruptcy works.
What about a Chapter 13 bankruptcy?
Chapter 13 is commonly called a wage earners plan. It allows people with regular income to make a plan to repay all or part of their debts. This is mostly offered to people with higher income that have the ability to pay some amount of their bills. Generally debtors make installments to creditors over a three to five year span.
If you’re not sure which type is right for you don’t hesitate to call our bankruptcy lawyers for help at (800) 631-5656. No matter where in California you may be located, we’re ready to help you file for bankruptcy protection.
Good news, unlike some government agencies that are back-logged from the pandemic, we can start your bankruptcy filing the same day you call us. Our team is here and ready to work to give you some peace of mind. If you’re ready to start please call (800) 631-5656.
California is a vast state with many industries from agriculture to manufacturing to service and hospitality industries.
This shutdown has affected 1 in 4 workers so far and possibly more.
California is also a major tourist destination that requires food service workers, tour guides, hotel workers, brewery workers, farm workers, and small business owners. Many are struggling with heavy debt loads and uncertainty about being able to back to work.
If this sounds like you, you’re not alone! Consult with one of our bankruptcy lawyers today.
Get a free and confidential review of your situation and find which type of bankruptcy is right for you. The Schmidt National Law Firm wish you and your family only the best during this time of uncertainty.
These numbers are provided by the U.S. Bureau of Labor Statistics (link source below) We first measured the numbers in late March, the increase of unemployment rates went up 4 to 10.6 percentage points. We expect these numbers to go even higher.
Colusa County – 18.3%
Imperial County – 27.3%
Tulare County – 17.2%
Plumas County – 13.9%
Merced County – 15.7%
Kern County – 17.5%
Monterey County – 14.4%
Fresno County – 14.6%
Stanislaus County – 15.0%
San Joaquin County – 15.9%
Lassen County – 9.5%
Los Angeles County – 19.5%
Mendocino County – 12.3%
Santa Barbara County – 11.6%
Riverside County – 14.8%
Humboldt County – 11.6%
San Bernardino County – 13.8%
El Dorado County – 12.9%
Sacramento County – 13.6%
San Diego County – 13.9%
Napa County – 12.5%
Inyo County – 10.9%
Ventura County – 12.6%
Orange County – 13.7%
Santa Clara County – 10.7%
San Francisco County – 12.5%
San Mateo County – 10.8%
In closing, we do understand the stress and uncertainty during the pandemic if you’ve lost your job or unable to pay your bills, bankruptcy is viable option for getting back on your feet. Start your freedom today by calling us at (800) 631-5656, or use the 100% secure form on this page.
Covid-19 Bankruptcy Lawyers & Attorneys in California Page updated on July 29, 2020.