When the Eviction Moratorium Is Lifted, Millions of Americans Will Owe Back Rent All at Once.
As a bankruptcy lawyer Tennessee residents have relied on for more than thirty years, I want to be frank about what to expect when the eviction moratorium is lifted.
Evictions and foreclosures have been stopped for the rest of the year. When this protection stops, all that money (your mortgage or rent payments) will come due all at once.
This is an overwhelming prospect for many. After all, if you can’t pay rent now, how can you pay multiple months of rent at the same time?
Although Americans are currently protected, there may be a tidal wave of evictions and foreclosures once those protections end. According to a government memo released on Friday, landlords can start the eviction process now, as long as they don’t fully evict tenants during the period of the original order.
If you are among the millions of Americans facing this crisis, there are steps you can take to get ahead of your debt today.
This Is Not a Problem You Can Ignore.
If you are in this situation, you might be thinking that you can simply move once you are evicted. But I’m afraid it’s not that simple. The truth is that the debt will follow you.
If you ignore your housing debt, a collections lawyer will come after the money. Creditors can attack your wages through garnishment or by seizing your assets; and they will do so until the debt has been fully paid.
Only now, on top of what you owed in rent or mortgage payments, you will also have to pay the collections attorney’s fees and court costs.
If this sounds scary, that’s because it is. But I’m here to tell you that there is a way out.
Don’t Wait Until Eviction Papers are Due. You Can Get Help Right Now.
Stop suffering from worry about what will happen when the eviction moratorium ends. Bankruptcy can protect you from this nightmare.
Even though the moratorium lasts until the end of the year, it’s smart to start this process right away. Making a plan in advance means my team and I can help you file for bankruptcy the moment you are ready, before the courts get backed up with cases in the new year.
As a bankruptcy lawyer Tennessee has counted on for more than three decades, I can help you navigate every aspect of your case, no matter how complicated it seems to be.
Contact us today online or at (901) 327-2100 to hear how we can help. The consultation is absolutely free, with no strings attached. We can make a personalized plan for you and talk through any of these issues at any time you are ready.