It is interesting to note the following current NJ Bankruptcy Statistics:
NJ bankruptcy filings are down 49% when comparing October 2020 YTD versus October 2019 YTD.
Bankruptcy filings are on the decline – even with COVID?
Are people just waiting until all the Stimulus Packages are Ended?
That might not be a good idea since you may qualify for Chapter 7 now. However, you may not be able to file a Chapter 7 bankruptcy when you return to work. https://njbankruptcylawfirms.com/chapter-7/
Now that your income is lower, Chapter 7 Bankruptcy can benefit you tremendously and eliminate all of your debts.
Remember: Stimulus $ do not count toward income eligibility. Income eligibility is key when I would analyze the best option for filing bankruptcy.
Now is a good time to contact me: Board Certified Bankruptcy Attorney https://njbankruptcylawfirms.com/about-attorney-ferro/