Pensacola Bankruptcy Lawyers are Highlighting Unemployment Bankruptcy Regulations During COVID-19

Pensacola, Fla: Pensacola bankruptcy lawyers Martin Lewis and Steven Jurnovoy, Pensacola bankruptcy lawyers, have an outstanding reputation in the community as a trusted source for information in all things Bankruptcy. As COVID-19 affects many in the area with unemployment they are highlighting regulations for both unemployment and bankruptcy. As many people in the area may be facing both issues in the near future if not already making this critical information for everyone in our community.

Just last week a record-breaking 3.28 million people have applied for unemployment benefits according to the Wall Street Journal. Proving just how hard COVID-19 is shaking the U.S. Economy. Bring the growing employment rate to a staggering halt. The number of workers filing unemployment claims is five times the record high for the month of March.

Currently bankruptcy regulations do not require employment, although past and present income will have an effect on being eligible for Chapter 7 and Chapter 13 bankruptcy. An individual may not be able to file for Chapter 7 bankruptcy if they lost a high-earning job recently. Also, anyone who is unemployed will not be eligible for Chapter 13 bankruptcy if their current lack of income will stop them from being about to enter into a repayment plan.

The good news is generally speaking an individual does not have to currently be working to file for bankruptcy. Pensacola mortgage modification lawyer Martin Lewis and Steven Jurnovoy encourage those in the community that have recently lost their jobs or receiving a reduced income amount due to COVID-19 to give them a call. There are currently so many in the community who may begin having trouble paying their mortgage, student loans, or other expenses and Lewis and Jurnovoy is here to help during this difficult time.

For anyone looking for more information on ways to protect their finances during COVID-19 give Lewis and Jurnovoy, P.A. a call at (850) 432-9110 or get more information online at www.lewisandjurnovoy.com.