With the effects of Coronavirus still impacting the economy, many people are facing loss of income. This reduction in income makes it harder for working people to pay their bills. Things might not get better. One economist estimates 42 percent of recent layoffs will result in permanent job loss.
Whether their lay offs are permanent or temporary, people are looking for ways to save money on goods and services that they need. With the advent of the Internet, people have become used to finding information and deals on items they need. The Internet Age has made people used to getting things fast and cheap, or even free. It has also made people believe in do-it-yourself. Just watch a video and you can do anything yourself. The recent lockdowns have had people searching for Youtube videos on how to cut their own hair, since most salons and barber shops have been closed.
Some people who are facing overwhelming debt also look for do-it-yourself solutions to deal with their debt. They often file for bankruptcy without an attorney. There are signs in Jacksonville along I-95 exits saying “Bankruptcy $150.” These signs are placed along the interstate by non-lawyers or “petition preparers” who will take $150 from you to type the documents necessary to file a bankruptcy case. The thought is that bankruptcy is just filing out some forms and filing them with a court. (This author once had a boss, who is a lawyer. This lawyer declared, “Bankruptcy isn’t rocket science; it is just filling out a bunch of forms about your finances.” When this person filed for bankruptcy a few years later, she hired a competent lawyer.)