The fact is that people are facing unprecedented financial challenges due to the COVID-19 pandemic. There is, of course, the obvious issue of job loss, as many businesses are forced to shut down to the quarantine restrictions put in place across the county. Many are also forced to spend more than they normally would, some having groceries delivered as a precaution, and others financially supporting family members who are no longer able to support themselves. Another issue, of course, is that those who have been hit personally by the coronavirus itself are facing astronomical medical bills. Although some carriers of the virus are asymptomatic, many spend weeks in the hospital. If they are lucky enough to recover, they find themselves dealing with the costs that come with that long-term medical treatment.
We were looking into this issue when we found a great article online. This blog post fully lays out the bankruptcy process in easy to understand terms. If you are concerned about your financial future or are just interested in the topic, we suggest giving it a read. Hopefully it will provide some information you can use.
If you would like to learn more about this important topic and read the article mentioned above, please follow this link: https://orz360.com/the-bankruptcy-process-understanding-what-it-means/