Courts could be overwhelmed by a tsunami of bankruptcy filings in the next few months
Experts say many small businesses may file for bankruptcy without more help.
and last updated 2020-12-09 21:47:41-05
PHOENIX â It s been a tough year for many small businesses. Some are hanging on by a thread with business severely impacted due to COVID-19.
Surprisingly, the number of bankruptcy filings has remained steady and even seen a small decline this year, but financial experts advise, this could just be the calm before the storm. Maybe the best way to say it is there is a tidal wave coming. The question is, are you going to be in front of that tidal wave or crushed by the tidal wave, because it is coming, said Lamar Hawkins from Guidant Law Firm.