It is not clear what the long-term ramifications are following the historic coronavirus pandemic. What is an unfortunate consequence is that many folks in Massachusetts may need to consider filing for personal bankruptcy.
Attorney Neil Burns recalls that when the federal bankruptcy laws changed in 2005 there was a dramatic increase in Chapter 7 filings. When the Crash of 2008 happened, Attorney Burns and his firm filed all too many bankruptcies for families in the months and years thereafter. In each wave of bankruptcies, the “fresh start” law was proven helpful.