Reform bankruptcy laws before Covid debt comes due

Even with the latest coronavirus relief bill, the economic stresses from the pandemic will continue to mount. An assortment of federal, state, and local foreclosure, eviction, and debt collection moratoria have kept creditors at bay, and unemployment insurance has helped many families to stay afloat.

But neither the collection moratoria nor unemployment insurance will last forever, and they are likely to lapse as Covid-19 wanes. That’s when the bill will come due.

Collection moratoria merely stop collection actions; they do not cancel…