Is Steidl & Steinberg open?
Yes! We have remained open and ready to help throughout the pandemic. We are not currently seeing clients in person, but we can meet over the phone or by video conference, depending on your preference.
Is the Bankruptcy Court open?
Yes! The Bankruptcy Court never closed due to the pandemic. Bankruptcy cases have been filed online for years and the Court transitioned to phone and video hearings after the pandemic began.
Will I lose my coronavirus stimulus money if I file for bankruptcy?
No. Coronavirus stimulus payments are protected in bankruptcy.
I’ve fallen behind on my mortgage payments. Can bankruptcy help?
Yes. A Chapter 13 bankruptcy can help you get caught up on your missed mortgage payments over a three-to-five-year period or you can seek a loan modification through a Chapter 13. A loan modification is a voluntary agreement between you and your mortgage company that will bring your account current, oftentimes while reducing your interest rate and monthly payment.
I’ve fallen behind on my rent. Can bankruptcy help?
Yes. While filing for bankruptcy will likely not enable you to stay in your current home, it can help you move forward. If you have fallen behind in rent payments and you have broken your lease, your landlord will likely sue you, not only for the payments that you have already missed, but also for the remaining payments due under the lease, which could add up to be a large amount of money. Depending on the type of bankruptcy you qualify for, you could eliminate or restructure that debt.
I’ve fallen behind on my utility bills. Can bankruptcy help?
Yes. Depending on the type of utility bill you have fallen behind on and the type of bankruptcy you qualify for, your delinquent utility bills can either be forgiven or restructured in a bankruptcy. Filing a bankruptcy immediately stops utility shutoffs and can help restore service if you have already been shut off.
Am I eligible to file for bankruptcy if my business has already received a PPP loan?
Yes. A business that has already received a PPP loan can file for bankruptcy without any restriction. The PPP loan will be considered a debt in the bankruptcy case.
Can my business apply for a PPP loan if I am in bankruptcy?
No. The law specifically prohibits businesses that are already in a bankruptcy from obtaining a PPP loan.
Can a business bankruptcy prevent my equipment and/or vehicles from being repossessed due to falling behind on payments?
Yes. A business bankruptcy prevents repossession of equipment and vehicles the second the case is filed with the Court.
My business just needs some time to recover from losses suffered due to COVID. Can a business bankruptcy help?
Yes. One of the major benefits of a business bankruptcy is providing time to get back on your feet without immediately having to catch up on debt payments that have fallen behind.