On 3/18.2020, our Las Vegas and Henderson attorneys write:

COVID-19, commonly known as the Coronavirus, is impacting us all in one way or another. The most serious threat is to the health and safety of our loved ones. We realize that there are more vulnerable sects of our population who are up against a frightening challenge. To those people, and everyone dealing with illness and stress of COVID-19, our hearts and prayers are with you.

There will be many long term changes because of this pandemic that our city, our state, our nation is facing. The financial security of countless people,homes, both currently employed and unemployed, is in peril. Long term, family homes, vehicles, and assets may be threatened as we struggle through this trying time. Fallout from, casino closures, the stock market decline, climbing unemployment numbers, and many other inconveniences the financial drain and burdens will be sizeable.

Coronavirus knows no boundaries, both by who in infects and by who it financially burdens. Unfortunately, the financial ramifications disproportionately impact those least able to afford it.  Many will miss work and income due to this. Those who are missing work may be out of work because being diagnosed with COVID 19, because of caregiving for relatives impacted by the disease, as well as those who must self-quarantine to prevent giving the virus to others. Many of these Nevadans missing work and income may miss a week, or two weeks, or even more. There are some federal programs available for those infected by the disease, even with the additional aid, the losses will add up.

There are many Federal programs that have come about because of the Coronavirus situation. These programs are meant to give temporary relief to those who are impacted by the COVID 19 pandemic. Some of the current programs being offered include: the Emergency Lending Program, Paid Leave, Unemployment Assistance, and the Congress Emergency Coronavirus Bill.

Though these federal programs may be great in the short term, but what are the long term ramifications going to be. Though in many Nevada counties you are not having to pay your utilities on time nor your rent on time, and even though there may be no late fees, you will still be liable for all of the debt that you are racking up once the pandemic has subsided.

The vast majority of people in Las Vegas and Henderson have both a mortgage and a car payment.  Lower income and increased expenses mean that some of these obligations unfortunately may have to go unfulfilled. The current situation will quickly put people in jeopardy for possible foreclosures and repossessions. Paying the mortgage and car payments were hard enough by themselves, adding on additional debt is going to really make times tough. Thus, paying them as well as making up for back payments might prove impossible.  There is sometimes no viable solution, however, there are options!

In addition to all of the other governmental programs to help with COVID-19, the federal government has another program to help people recover from financial hardship.  This is a well tested program. Plus, this program lets people keep their home and car, and even catch up the payments, regardless of whether the bank or lender wants to help. Additionally, this program allows people to get rid of medical bills that they cannot pay, and simply get past this trying time in our lives.  This federal program is called bankruptcy. This is a program that our Las Vegas law firm recommends, especially if you are one of the thousands of Nevada residents that are currently out of work or whose life has been impacted by the coronavirus pandemic.

Medical bills, either from the current virus or ones that you had in the past can be wiped away through chapter 7 bankruptcy. A different chapter of this federal program, Chapter 13 bankruptcy will help people deal with missed payments on homes and cars due to the COVID 19 virus. Ch 13 also covers back and missed payments that you may have had prior to the current pandemic. Thus, declaring bankruptcy in Vegas is a needed and wonderful federal program that people can use for help.

Almost everyone in Nevada is being impacted in one way or another by this virus. Therefore, if you are realizing that your finances are beyond control or if you are in need of debt relief. Please know that we are here to assist. We are offering free debt evaluations. We want you to know all of the options available.

Talk to our Las Vegas bankruptcy attorneys today. The consultation and the advice are free. Call (702) 370-0155. Find out how bankruptcy and our lawyers may be able to assist you during this national pandemic.