Unfortunately, these days it’s more commonly reported that many people are unable to pay their bills. Unemployment in New Jersey was at 3.7% in November 2019 but jumped to 15.3% in April 2020. During these economically uncertain times, many individuals are desperate to unburden their expanding debts and have a fresh start.
The devastating economic impact COVID-19 has had on the New Jersey economy can be felt in communities all across the state. More people are beginning to ask hard questions about how to stabilize their finances and get through another economic downturn, and filing for bankruptcy may be the answer.