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For the millions of Americans who’ve seen their finances upended by the pandemic, federal stimulus payments, enhanced unemployment benefits and the slew of moratoria placed on debts might have seemed like a godsend when they were first announced. But what happens when those programs expire?
For one, bankruptcy attorneys predict that consumer and small business bankruptcy filings are going to skyrocket, and they say the wave is likely coming before the end of 2021.
“There’s a backlog of evictions, foreclosures and collection cases that are all being put off because of the pandemic that is going to come to a head, I think later on this year, probably late summer or early fall,” said Stephen Swift, lead attorney at Swift Bankruptcy Law Firm in Colorado Springs. “I do think we’re going to be busy, but the last thing that we are today is busy.” ....

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