A Leading Bankruptcy Attorney in Panama City Beach, FL Explains How to Survive Financially from the COVID-19 Crisis

Over the past several weeks, Lewis & Jurnovoy, PA, a leading bankruptcy attorney office in Pensacola, FL, has received numerous phone calls and email inquiries from Gulf Coast residents struggling with their finances as a result of the coronavirus shutdown. Many questions were being asked such as, “How do I survive on a limited income and what should I be doing?’. The answer to this is to “Prioritize “.  On limited income pay your necessities first. These are the items you need to survive: 

•    Food 
•    Utilities 
•    Housing 
•    Car payments 
•    Child support       

The next group of expenses are low priority and should only be paid if there are any remaining funds. These are unsecured debts (no collateral) and include: 

•     Credit Cards 
•     Medical bills 
•     Signature Loans 
•     Payday loans 
•     Internet Loans 

Here are some other helpful tips: 

If you do make a credit card payment, we recommend only making the minimum payments during the crisis and save any remaining money for an emergency fund. Only spend money on necessities. Do not make extra purchases on items you may “want” but not need to live on. Do not take out payday or internet loans and try to avoid retirement plan loans or distributions. If you are having trouble paying any of your debts, call your creditor to see if they have special payment programs available during the crisis.  Any arrangement should be in writing. 

The attorney and staff at Lewis & Jurnovoy, PA are here to help you and your family manage the COVID-19 crisis. We have many options and are experienced in bankruptcy and financial legal situations. Make sure to contact us, bankruptcy lawyers in Panama City Beach, FL, for any of your legal needs regarding bankruptcy during this coronavirus scare. 

Martin Lewis and Steven Jurnovoy joined as partners in 1998 to create the law firm of Lewis & Jurnovoy, P.A. The primary emphasis of the law firm is in the representation of individuals and sole proprietors in Chapter 13 Bankruptcy ("Debt Consolidation") and Chapter 7 Straight Bankruptcy. 

Lewis & Jurnovoy, PA 

1004 Jenks Avenue 

Panama City, FL 32401 

(850) 913-9110 

www.LewisandJurnovoy.com