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Coronavirus & Bankruptcy

Coronavirus & Bankruptcy

No one could have predicted the current coronavirus pandemic.

The spread is wreaking havoc on our economy and our nerves. It has forever changed the way we will live. Now that it is upon us, many analysts are predicting similar financial problems to those experienced in the Great Recession in 2008. But this disaster has earmarks of the same kind of problems I have helped people overcome for 43 years as an experienced bankruptcy attorney – health issues, loss of employment, unrelenting threats by creditors are all too familiar problems to me. The good news is that we will survive this. Of course, the most important thing is to keep yourself, your family and others safe. In times of crisis, people normally don’t race off to file bankruptcy. However, those of us at Oregon Fresh Start with over 11,000 bankruptcy cases filed, are here to give advice and help you prepare if Bankruptcy is on the horizon. IT IS NOT A MATTER OF IF; IT IS ONLY A MATTER OF WHEN FOR SO MANY.

Although bankruptcy filings hit a 10-year low in 2018 due to the robust economy, in 2010 as a result of the Great Recession, bankruptcy filings hit a record high of 1.6 million. The result of this current coronavirus pandemic will be just as devastating. A robust economy means people going into debt. Household debt at the end of the 4th quarter of 2019 was 15% higher than at the beginning of the Great Recession.


IF YOU ARE STRUGGLING OR SOON WILL BE, YOU ARE NOT ALONE. THIS PANDEMIC WAS NOT YOUR FAULT but, as an experienced bankruptcy attorney at Oregon Fresh Start, I am here to help see you through this financial crisis. The Stimulus Bill signed by the President provides that most of you will receive some financial help from the government. The law says this financial help is not to be counted against you as income when calculating your ability to pay debt. The financial help you get from the government will keep food on the table and, hopefully, pay your rent or mortgage but it will not be enough to pay your other debt. Evictions and foreclosures are suspended but collection agency actions and garnishments of wages and bank accounts are not. YOUR DEBTS WILL NOT BE FORGIVEN. I am here to help. If you decide to file, everything can be done without a personal visit at my office. Because the courts are doing hearings by phone, you can probably complete your entire bankruptcy without leaving your home. Let me use my skills as an experienced bankruptcy attorney to help you.

Call me at 541-382-3403 or 541-567-7200 or send me an email or fill out the Free Financial Review. All consultations are FREE.

In the meantime, STAY SAFE. WE WILL GET THROUGH THIS TOGETHER.

Dale Smith