Coronavirus Doubles Risk of Mass Bankruptcies

According to an article on Yahoo! Finance the risk of mass bankruptcies has doubled due to the spread of the Coronavirus in the United States. NYU Stern School of Business professor emeritus Ed Altman stated that “distress in the corporate debt market has now reached levels that haven’t been seen since the 2008 financial crisis.” As a result, individuals should be prepared to file bankruptcy if necessary. The sooner financial concerns are addressed, the more quickly the game plan to prevent long-term financial issues can be implemented. We previously touched upon bankruptcy in our blog at /blog/2020/03/filing-for-bankruptcy-in-ohio-during-coronavirus-pandemic.shtml. For a free consultation regarding bankruptcy and how we can assist, please feel free to call us at 513-932-2115.