Top-rated bankruptcy attorney Bryan P. Keenan, founder of Bryan P. Keenan & Associates, PC in Pittsburgh, PA, talks about the upside to the imminent increase in bankruptcy cases. For more information please visit https://bryankeenanattorney.com
Pittsburgh, PA, United States - January 26, 2021 /MM-REB/ —
In a recent interview, top-rated bankruptcy attorney Bryan P. Keenan, founder of Bryan P. Keenan & Associates, PC in Pittsburgh, PA, talked about the upside to the imminent increase in bankruptcy cases.
For more information please visit https://bryankeenanattorney.com
When asked for a comment, he said, "The COVID-19 health crisis has led to more than 40 million Americans being unemployed, with businesses being forced to close their doors. Because of this, we expect that there will be a surge in bankruptcy cases."
The major advantage to this, according to Keenan, is that the stigma associated with bankruptcy will begin to shift as COVID-19 has affected everyone.
"For a long time now, there's been a negative connotation attached with bankruptcy. There's this notion that people who declare bankruptcy are lazy, corrupt, or irresponsible with money. However, this is simply not the case. Job loss and medical expenses are the leading two reasons that individuals file for bankruptcy. The simple fact is that most people don't want to file for bankruptcy," he stated.
He further alluded to the fact that the main reason businesses go bankrupt is due to life circumstances that arise, which are beyond our control.
Due to these perceived notions of bankruptcy, many people tend to put filing on the backburner as their debt continues to grow.
"If they haven't already, people will begin to see that the root cause of filing for bankruptcy is often out of their hands, and hopefully they'll start filing sooner rather than later," he said.
He went on to say "Often people liquidate their assets and investments with the hope of avoiding bankruptcy. This is tragic due to the fact that in the majority of these assets are protected in bankruptcy, so that they can be used for what they were intended for, retirement."
The main goal in filing for bankruptcy is to provide financial relief for individuals so that they can come out intact on the other side of a difficult situation.
When asked to explain further, Keenan said, "Bankruptcy can do so much to lift that financial burden off your shoulders, which is something that more and more people will realize. Bankruptcy allows you to discharge your debts, pay off your creditors, as well as find a resolution to liens and judgments. This will allow you to wipe your debt slate clean and begin anew."
Keenan was quick to add that many Americans simply don't realize that it is their Constitutional right to file for personal bankruptcy.
"Filing for bankruptcy was written into the Constitution to ensure that you have the ability to secure a fresh start and not be held bound by the shackles of debt, especially due to life circumstances beyond your control. As we have all seen with this global pandemic, we are not completely in control of events that could seriously derail our financial security," he said.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Bryan Keenan
Email: Send Email
Organization: Bryan P. Keenan & Associates
Address: 993 Greentree Rd #101, Pittsburgh, PA 15220
Phone: 412-922-5116
Website: https://bryankeenanattorney.com
Source: MM-REB
Release ID: 88994557
