Although personal bankruptcy filings have plunged during the COVID-19 pandemic, experts are predicting a flood of bankruptcies in the fall. Professor Bob Lawless, a bankruptcy expert at Illinois Law, takes a more measured approach. In an interview with Yahoo! Finance, he pointed to his research that demonstrates that people typically take a long time to choose bankruptcy.
“I think there will be more bankruptcies, but the shape of that curve may be more of a gradual run-up as debt problems accumulate,” he said. “We may look out two years from now and see there were a lot more people filing.”
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