Bankrupt Borrowers Won’t Forfeit Coronavirus Aid Payments to Creditors Under Stimulus Package

The stimulus package passed by the Senate includes provisions to aid bankrupt consumers and small businesses. “There are going to be millions of people facing financial hardship,” said Rohan Pavuluri, of the nonprofit, Upsolve, which helps people navigate the civil justice system as they file for bankruptcy. Pavuluri says Upsolve has begun hearing stories from people who have lost income because of coronavirus-related shutdowns.“Personal bankruptcy, just like in 2008, will play a critical role in the healing process of America, and I think Congress is acknowledging that," he said.

News Story (NATIONAL)

Katy Stech Ferek
Wall Street Journal (WSJ)
March 26, 2020
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Tags: Bankruptcy, CoronaVirus, COVID-19

Organizations mentioned/involved: Upsolve


DETAILS

The stimulus package passed by the Senate includes provisions to aid bankrupt consumers and small businesses. “There are going to be millions of people facing financial hardship,” said Rohan Pavuluri, of the nonprofit, Upsolve, which helps people navigate the civil justice system as they file for bankruptcy. Pavuluri says Upsolve has begun hearing stories from people who have lost income because of coronavirus-related shutdowns.“Personal bankruptcy, just like in 2008, will play a critical role in the healing process of America, and I think Congress is acknowledging that,” he said.