Bankruptcy lawyers expect and increase of filings – KFYR-TV

BISMARCK, N.D. - The impacts of the pandemic have forced many into financial hardship.

Because of this, lawyers say they're getting ready for an influx of clients.

Local lawyers say their expertise and experience could save you time and frustration during an already volatile situation.

The novel coronavirus has brought with it unemployment, medical expenses and overextended credit: three factors common among people considering filing for bankruptcy.

Lawyers say many people might be turning to them for solutions in the near future.

"I am probably expecting an increase and a lot more calls about bankruptcy. A lot of people just calling for information to see whether bankruptcy is a possibility for them," said Attorney Chad Anderson of Chad Anderson Law Firm in Bismarck.

Anderson says lawyers can help people navigate through alternatives to bankruptcy or help choose which type of bankruptcy to file.

He says they can guide you on a path toward healthy credit after the process is complete.

While there's no immediate spike in local bankruptcy filings, data firm BankruptcyData reports about 200 more cases of Chapter 11 filings through March of this year than in 2019.

The federal stimulus package is also geared toward an uptick of bankruptcies by offering relief to those who file.

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Bankruptcy lawyers expect and increase of filings - KFYR-TV