COVID-19 Continues to Affect Borrowers

It’s no secret that COVID-19 is a huge problem in the United States. In fact, experts have predicted that the repercussions of the pandemic will continue to affect our economy for years to come. For borrowers, this is bad news. Unfortunately, pandemic-related foreclosures, collection lawsuits, and judgments appear to be here to stay. Even if you haven’t lost your job due to COVID-19, odds are your finances have taken a hit due to the pandemic. For many people, the financial stress caused by the coronavirus has only compounded previous financial issues, such as medical debt, credit card debt, and student loan debt. 

If you’ve already been sued by a debt collector, you should immediately seek the counsel of an experienced debt collection lawsuit defense attorney. However, if you haven’t yet been sued, but are concerned that your debt is getting out of control during the COVID-19 pandemic, please review the information below. 

Tips for Avoiding Debt Collection Lawsuits During COVID-19

Create a budget (and stick to it)

If you are at risk of being sued by a debt collector during the pandemic, the first thing you should do is create a budget. If you’re married or live with a partner, you should make sure that the two of you are on the same page regarding your finances. And if you have older children, you may even want to consider including them in the discussion. If everyone works together and stays committed to cutting back on expenses, there’s no reason that you shouldn’t be able to ride out any financial difficulties you’ve experienced due to COVID-19.

Speak with creditors before trouble arises

If you anticipate missing one or more payments due to COVID-19, you should consider contacting your creditors. While most federal student loans have been deferred due to the CARES Act, some private lenders are also willing to work with borrowers who’ve been affected by the pandemic. If you fail to be proactive, however, a debt collection lawsuit may be right around the corner. 

Contact a California debt collection lawsuit defense attorney

If you are at risk of being sued due to the COVID-19 pandemic, or if you’ve already been served with a debt collection lawsuit in California, you should contact a debt collection lawsuit defense attorney as soon as possible. When it comes to debt collection lawsuits, time is of the essence. When you contact the experienced lawyers at the Fullman Firm, our team will put their fifty years of combined debt collection lawsuit defense experience to work for you. 

When you choose the Fullman Firm to fight your debt collection lawsuit, we will do everything in our power to ensure your case is a success. So, if COVI