Bankruptcy For People Who Have Lost Their Jobs
Job loss, a work furlough, a reduction in hours or loss of overtime can put any family in a severe financial bind. With less money coming in, you may be in the difficult position of deciding which bills you should pay. You may also be living in fear of foreclosure or repossession.
I’m bankruptcy attorney Ben Sissman, in Memphis, Tennessee. I have helped people in your situation, with families just like yours, deal with debt problems for more than 30 years. If you are dealing with a loss of income, bankruptcy may give you the breathing room you need. I offer a
free initial consultation to discuss your situation and answer your questions.
Are Bill Collectors Trying To Get Blood Out Of A Turnip?
The pressure of losing a job is already tremendous. You don’t need bill collectors adding to your worries. Filing bankruptcy today means getting the collection agencies off your back tomorrow. Call my office now: 901-730-4958.
Many people who are dealing with a loss of income find themselves in a position of robbing Peter to pay Paul. Some common mistakes and bankruptcy warning signs include:
- Making minimum payments on credit cards, while letting house payments and car payments slide
- Dipping into retirement savings to pay bills
Don’t Use Savings To Pay Your Bills. Bankruptcy Lets You Pay Yourself.
Making minimum payments on credit card bills can deplete your savings without making any meaningful reduction in the amount of debt you owe. In many cases, credit card bills, medical bills, payday loans and other unsecured debts can be completely discharged by filing bankruptcy. By discharging unsecured debt, you may be able to afford to keep the assets that are most important to you, such as your home and your car.
Taking money out of your 401(k) or IRA to pay bills can result in a loss of those assets without solving your debt problems. When you file bankruptcy, your retirement savings are protected.
If you are facing serious debt problems following job loss, a work furlough, a reduction in hours or loss of overtime, talk to an experienced bankruptcy attorney before you take any actions you might regret later.
Contact My Office To See How Much Less Stress You Will Feel
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.