Many people ask, is bankruptcy right for me when I have been laid off. The answer to this question depends on the circumstances of your case. However, this question, is even more important now, during the COVID-19 pandemic. Millions of Americans have lost their jobs as a result. More people than ever are at risk of financial crisis and bankruptcy. During these trying times, if you want to know whether bankruptcy is right for you speak to an attorney right away. They will not only let you know whether it is likely right for you or whether you have other options. Check-in with an experienced bankruptcy attorney at Melaragno, Placidi & Parini first. Sometimes, filing for bankruptcy becomes inevitable, like when you have been laid off. If that is the case, the sooner you file, the faster you can restore your credit. No one wants to file for bankruptcy, however if you are deep in debt and have been laid off, you need to find out if there are other options to consider. Being laid off can put you and your family in a very precarious financial situation, even if you are in a position to receive local, state or federal money during the COVID-19 pandemic. Do not stop paying your bills if you do not know if you would qualify for bankruptcy, because trying to catch up with those bills later can be a serious financial burden. However, if and when you decide bankruptcy is right for you, know that there are two options for how to do it. When declaring bankruptcy, you have two options a Chapter 7 or Chapter 13 bankruptcy. A Chapter 7 bankruptcy may be the right choice for you, given the circumstances you may be dealing with after being laid off. You could also choose Chapter 13 bankruptcy which provides you with time to catch up on any delinquent mortgage or car payments and will allow you time to pay off some or all of your unsecured debts. A Chapter 13 Plan can run from three to five years. If you are contemplating declaring bankruptcy, give Melaragno, Placidi & Parini a call as soon as possible. We offer a free consultation and can help you file for bankruptcy even during quarantine. Let us help you get your life back on track.