Frequently Asked Questions: Surviving The Financial Crush Of COVID-19

April 8, 2020 | By Steffens Law Office
Frequently Asked Questions: Surviving The Financial Crush Of COVID-19

How Do I Defer Payments To Creditors?

For most bank and credit card accounts, when you log in online, there is an announcement that will show up at the top of the screen. If your financial situation has suffered because of COVID-19, the creditor asks you to click on the tab or call them. Explain your specific financial situation and they may defer payments for a period of time. To review your situation in detail, contact our experienced Nebraska bankruptcy attorneys.

Will Continuing To Use My Credit Cards (Because I Don’t Have Any Income Right Now) Cause A Problem If And When I File Bankruptcy?

No. Do what you have to do to survive. As long as you only use credit cards to pay for “necessary” goods and services, you can still erase those debts in a bankruptcy. For example, you can safely charge groceries, cleaning products, and gasoline. Steer clear of using the credit cards for “luxuries”, like electronics at Best Buy. For more information, contact us to request our free report, “How to Erase Credit Card Debt in Bankruptcy”. Better yet, call us at 308-872-8327, or email

I Want To File For Bankruptcy, But I Don’t Have Enough Money To Pay For It Right Now! Can Steffens Law Still Help Me?

Yes. We have 9 payment plan options available, plus our “File Now, Pay Later” plan and “Fresh Start for $100 Down” for those who qualify. If you don’t have enough for the full payment, and none of the 9 payment plans fit your situation, don’t despair. We can protect you for a small down payment, and prepare a custom plan for you. For more information contact us to request our report, “Bankruptcy Payment Options.”

My Income Is Limited, And The Bills Are Stacking Up. What Debts Do I Pay First? Mortgage/Rent, Car Loan, Credit Cards, Utilities?

Surviving The Financial Crush Of COVID-19First, decide what assets you want to keep. Your home, car, etc.? Make payments on those loans. Call your mortgage/auto lender and ask if they are offering delayed (deferred) payment programs because of coronavirus. Maybe the car loan can be extended. Consider refinancing (average interest rates are currently down to 3.25%) to lower your house payment. Continue paying the electric, water, and gas bills, but consider reducing your monthly plans. Do you really need every cable tv channel, unlimited cell phone data, etc.?

The credit cards will be wiped away in bankruptcy. Make the minimum monthly payment, but only if you need the credit cards right now to pay for “needs” like groceries and gasoline. Otherwise, save that money for yourself, and stop paying your credit card bills. It will take the credit card companies at least 90 days to react to your non-payment and file suit. Our bankruptcy attorneys can protect you from the lawsuit, and prevent garnishment. For more information, contact us to request our free report, “How to Erase Credit Card Debt in Bankruptcy”.

Could A Stimulus Payment Be Taken By Creditors For A Garnishment? Are We Going To Still Be Garnished?

Unfortunately collection agencies can still garnish your bank accounts. In order to protect yourself from garnishments, if you receive the stimulus payment by check, we recommend putting it on a prepaid debit card. We do not recommend simply cashing the check because many vendors are not accepting cash payments at this time. For more information please contact us and request our free reports, “How to Protect Yourself and Your Money From a Bank Garnishment”, and “Stopping Wage Garnishments by Filing Bankruptcy.”

Will I Still Get My Tax Refund?

While situations will differ, if you’re expecting a refund, the sooner you file the better. Congress recently passed the stimulus package. The longer you wait to file your return, the longer you’ll wait for the refund to be paid. If you haven’t filed yet, and collection agencies have judgments, protect your refund by using a pre-paid debit card from Wal-Mart or H&R Block. For more information, contact us to request our free report, “How to Protect Yourself and Your Money From a Bank Garnishment”.

If you expect a tax refund, we can file your bankruptcy with just $335 down, and you can pay the balance when you receive the tax refund. Call us at 308-872-8327, or email, to begin your Fresh Start, today.

These Are Difficult Times & Our Experienced Bankruptcy Attorneys Are Here To Help You

Take the important first step by consulting with our experienced Nebraska bankruptcy attorneys. We will review your finances and let you know what we think. We don’t charge for this initial consultation and you are under no obligation to us. You have nothing to lose by filling out our form and reaching out to us, but you may finally find a way to get out from under crushing debt.