Hello, this is Jeff Kelly, and today is June 25th, 2020. And the title of today’s podcast is Don’t Let Yourself Get Smacked by the Tidal Wave. It is no secret that a tidal wave of vanquishes are coming down the pipe soon. Over 40 million Americans have lost their jobs due through no fault of their own because of this blasted, COVID 19 government four shutdown of our economy. What’s going to drive this tidal wave of bankruptcies is going to be a tidal wave of creditor lawsuits.
So for almost five months, creditors in Georgia have not been able to get orders on the collection lawsuits they filed.
And the deadline has been extended and been extended. And currently it’s going to be extended until about mid July. And this lack of enforcement has created a false sense of security for a lot of people. I, I bet there’s tons of consumers who have just completely forgotten about the lawsuit with all the strange stuff that’s been going on in the world. This is probably not top of mind and this false sense of security is about to get blown away. Once courts are allowed to operate at full capacity in mid July.
So along with the tidal wave, a predictable nightmare is coming for many consumers in Georgia after the courts reopen. Some person is going to get their wages garnished out of the blue. They are going to see twenty five percent of their paycheck disappear. So what does this look like in real life? Someone who is expecting to see 500 hours in their paycheck is only going to get about three seventy five. Someone who has a few thousand dollars in their checking account could potentially see it all disappear depending on the amount of the debt.
What’s this going to lead to?
Rent payments won’t be able to get made. Mortgage payments will not be able to get made. Car payments will not be able to get made. Financial disaster. And I imagine that many people are going to procrastinate and they’re going to be calling us in late July. And I hope this doesn’t happen, but it is possible that they may hear these awful words. I’m so sorry. We’re fully booked out. And I imagine you’re going to hear people say, look, I’m desperate.
Your five months of collection lawsuits are going to hit all at once. We’re not going to be able to help everybody. And I doubt I think there’s gonna be a major shortage of bankruptcy attorneys for the first couple of months. So don’t wait until after the nightmare hits, the tidal wave hits. You know who you are.
You know, if you’re in financial trouble, you know, if you’ve got stuff hanging over your head. Take care of business. Call me today. It is a free consultation. 770-881-8449. Let’s get the ball rolling before everything hit you. Don’t wait until afterwards. It could really compound your headache. So almost every bankruptcy firm that I know of has has been forced to lay off at least half their staff.
So, I mean, not only is there going to be this big, huge tidal wave of collection losses coming, but most bankruptcy firms are downsized and they’re going to stay downsized until things start coming back. Most firms are either going to be in pay off the debt or, you know, replenish the savings mode. There’s not going to be a huge amount of capacity. So it’s just going to compound the problem. So, again, call me today.
It doesn’t cost you anything to explore your options. It takes time to get properly ready for a bankruptcy case. We need to review your paycheck stub. We need to look at your assets. We’re going to tell you if bankruptcy is not a right fit for you.
For some people, it may not be. But we need time to evaluate. So, again, take action. Don’t wait. You know, you are. You need to call me. 770-881-8449. Thank you.