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Collections Lawsuits & Judgments During COVID: Is Financial Stress During COVID-19 Affecting Mental Health?

  • Aug 26 2020

Life is full of ups and downs—and surprises. This certainly applies to financial health throughout the decades as most of us have experienced the peaks and valleys; however, in light of the current economic climate, currently you may have felt a serious downhill slide. If you have lost your job or had your hours cut, you may be dipping into savings or the emergency fund, or perhaps are left wondering how you will make ends meet for months to come. COVID-19 may have transformed the way you normally live your life and how you go to work, but one thing has probably not changed at all: mortgage or rent payments, credit card debt, student loan debt, medical debt, automobile debt, and all the other typical bills from prescriptions to utilities.

While the dogs were called off for several months amidst lockdowns, shutdowns, and the offering of respite via government-mandated prohibition of collections activities, many are back to work now—and you may be feeling the effects again every time you go to the mailbox or pick up your phone. Without sufficient income, or in some cases no income at all, you may feel pretty helpless right now. Substantial debt may be stressing you out to the point that you feel it mentally and physically. If so, you are not alone—and especially as tens of millions struggle with unexpected unemployment.

Recent news shows data from a poll taken in the spring stating that 45 percent of adults in the US feel like their mental health has been affected due to concerns over coronavirus, while 69 percent are worrying about their finances.

“As the coronavirus pandemic continues to impact lives in so many different ways, the economic disruption has placed millions of financially vulnerable people in danger of the most severe hardship,” said National Foundation for Credit Counseling president and CEO Rebecca Steele in a recent interview.

If you are currently dealing with overwhelming student loan debt, collections lawsuits, or if one or more default judgments have been granted against you, speak with an experienced attorney from Fitzgerald & Campbell, APLC as soon as possible. Acting now rather than procrastinating is the key to your success in the future.

Let us review your case and discuss what would work best for you. We are here to help! Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include collection lawsuits, default judgments, and more. Click here to schedule a free 30-minute consultation, or call us at (855) 709-5788, or email us at info@debtorprotectors.com.

Posted in: Collections lawsuit