In a recent interview, top-rated bankruptcy attorney Bryan Keenan, founding partner of Bryan P. Keenan in Pittsburgh, PA, revealed that the bankruptcy court in Western Pennsylvania are prepared for the upcoming tide of bankruptcy cases. —
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When asked for a comment, Keenan said, “Due to the Covid-19 pandemic, many Americans have found themselves unemployed or earning significantly less and in need of declaring bankruptcy. Although the banks have been working with people in principal the relief is temporary and soon coming to an end. For example, the banks have allowed homeowners to defer their mortgage payments”.
However Keean warned that, “Putting off your mortgage payments may not be as helpful as it seems. In some cases, signing up for mortgage forbearance could potentially set you up for serious problems in the not-too-distant future since the deferred payments shall need to be paid in one lump sum. This may be impossible for some people."
"Declaring bankruptcy can typically bring financial relief for many to address these types of situations and the system is equipped to handle the influx of cases.”
For Americans who are in financial distress and have limited options, bankruptcy can go a long way in lifting the burden of debt off their shoulders. "It is critical, however, to seek out your options before you accumulate more debt. Incurring more debt may jeopardize your ability to file for bankruptcy relief in the near future."
“There’s no question that filing for bankruptcy provides enormous debt relief benefits for filers, such as avoiding home foreclosures, evictions, and car repossessions. Furthermore, automatic stays immediately put an end to debt collection, garnishments, and seizure of property," he said. "
“We saw that in April while the majority of states were in lockdown - and while bankruptcy courts began working remotely - bankruptcy filings fell drastically by 60%. With a record 42 million Americans out of work, there’s little to no question that the courts will be inundated with cases.”
Many bankruptcy courts are currently operating remotely and are accessible with technology. This is why it is critical to work with an attorney who is already working with this technology.
When asked to elaborate, Keenan said, "There are the communities who are already experiencing the worst of the economic and health impacts brought on by Covid-19 and are in need of immediate relief.
In the current situation, individuals in this group are in need of immediate relief and working with an experienced attorney who have access technology, will eliminate any barriers to filing and going through the bankruptcy process.
Name: Bryan Keenan
Email: Send Email
Organization: Bryan P. Keenan & Associates
Address: 993 Greentree Rd #101, Pittsburgh, PA 15220, USA
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