September 19, 2021 | Bankruptcy, COVID-19

Assistance with utility payments, extended unemployment benefits, stimulus checks, foreclosure moratoriums, eviction moratoriums, pausing student loan payments – for many, the uncertainty of the past 18 months has been made a small measure better by the temporary relief provided to the people, by the people.  The economy was hit hard during the pandemic – 20 million workers lost their jobs in April 2020 – but a combination of government assistance programs helped people keep food on the table and a roof overhead.

Much progress has been made to move past the pandemic, but it still feels like we are a long way from being out of the woods.  Employment is still about 5 million jobs below pre-pandemic levels.  Median household income decreased by 2.9% (roughly $2,000/year) in 2020 compared to 2019.  The number of people living in poverty increased by a percentage point in 2020, the first increase in five decades according to the U.S. Census Bureau.

Despite the lingering doubts about where we will be in six weeks, or six months, business is returning to normal.  Housing moratoriums have ended, or will be ending within a month.  There are no additional stimulus checks on the way.  Student loan payments will begin again in February. While some feel the return to ‘normal’ is being rushed as COVID-19 cases spike, many still think it long overdue.

No matter where you fall on this spectrum it is never a bad time to self-assess.  Food security, job security, housing security, debt-to-income ratio, credit scores, household budgeting – all of these components that drive our economic engine require attentiveness to the details.

If you are facing uncertainty in any of these areas, consult with a professional.  Our experts offer free consultations to individuals and couples to find solutions to debt problems (including collections and lawsuits) and pending foreclosures.  There may yet be resources available to you if you are facing eviction.  Contact High & Younes today at 402-933-3345 or visit our website at https://www.hyattorneys.com

Pandemic Relief Winds Down