In recent years, unemployment rates have hit levels not seen in decades. If you’re among those that lost their jobs, and continue to be without work, you know how stressful this time can be.
Even if you had a safety net savings account, and even with extended unemployment benefits, a job loss can devastate your finances. Extended job losses are particularly difficult.
During a short-term job loss many people manage to just skate by. It’s possible that bills can slide for a few months, or credit cards could make up for the lost income.
But over a longer period, credit cards reach their limits and
past due notices can become
foreclosure pending notes.
It can be difficult to focus on finding a new job and making ends meet when creditors constantly call your house or send letters. They make demands for money you don’t have and threats to take away what little is left, like your home or car.
You may feel like your hands are tied, but, the truth is, you have options.
During a long period of unemployment two things can be very helpful: Debt relief help and protection against creditors. Filing bankruptcy can provide both.
With no income, you will most likely qualify for a Chapter 7. Chapter 7 bankruptcy can provide the most intense and immediate relief.
Chapter 7 bankruptcy was designed to:
If feel like you’ve lost control of your financial situation, and if your debt continues to grow, it’s time to take action.
A bankruptcy lawyer can tell you about all of your debt relief options, and explain how filing bankruptcy can retire your debt and help you get back in control of your life.
Fill out the free case evaluation form on this page and we’ll connect you right away with a local bankruptcy lawyer.