The treatment of the EIDL loan in a Utah bankruptcy will depend on several factors, including the type of bankruptcy you file (Chapter 7 or Chapter 13), the amount of the loan, and the terms of the loan.
Tag: bankruptcy covid
Bankruptcy Changes Due to Covid-19
Let’s face it the world changed in early 2020 as the Covid-19 virus got loose. The bankruptcy world has had to adapt and change as well in these challenging times. Many of the changes I feel will be here for a long time. The constant that I see is you have not lost the ability to file bankruptcy its now just changed how it is being handled by the courts and law firms. At the Utah Bankruptcy Guy we have adapted to this new environment. Now might be the easiest it has been to file bankruptcy in the past 15 years.
Bankruptcy after COVID 19 – 5 Things to Know
The people that come out of bankruptcy in the best shape tend to be the ones who got expert advice early. You can get referrals from the National Association of Consumer Bankruptcy Attorneys, and the first meeting is typically free. Bankruptcy after COVID 19 does not mean you should rush to file for bankruptcy since your situation could improve, or things could get much worse. You need to understand that a Chapter 7 Bankruptcy can only be filed once every eight years so you will want to file when you can erase the maximum amount of debt.