Bankruptcy
Apr. 23, 2021
Bankruptcy lawyers still wary tsunami that didn’t come, yet
According to U.S. court data, bankruptcies in the nation fell by almost 30% last year, compared to 2019. Only Chapter 11 reorganizations saw a rise, 18.7%.
A feared massive wave of bankruptcies never materialized last year. However, lawyers are still bracing for an uptick as the future of federal and state financial stimulus support is uncertain.
For Shield Law Group APLC, a consumer bankruptcy firm in Encino, the number of consultation calls has gone up about 50%, John D. Sarai, founder of the law firm, estimated. Most people are concerned about paying back rent and student loans after...
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