Individual Bankruptcy Filings on the Rise in New York and New Jersey due to Coronavirus
According to one study done by the New York Post, one in four Americans do not have enough money saved to cover more than two months of expenses and one out of every four people doesn’t have any savings. Moreover, a poll conducted on behalf of Chase bank showed that 40% of adults wouldn’t be able to cover unexpected expenses of more than $400. With the uncertainty of the coronavirus and these statistics, many individuals in New York and New Jersey will be forced to file bankruptcy.