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Job Loss and Bankruptcy
Are you struggling with loss of employment?
Most of us live paycheck to paycheck and cannot afford a 6 month emergency fund. When your income is suddenly taken from you, you have a financial emergency. Before long, you can’t stay current on monthly bills and debt collectors begin calling. More people file bankruptcy due to job loss than for any other reason, and it’s more common than you may think.
Today, a record number of individuals have lost their jobs, and now need to file bankruptcy due to COVID-19. Even if your job has not been eliminated or your income reduced due to COVID-19 , you may still be affected by it. You need to know your options.
The first question I always ask my clients is how long they expect they will be unemployed. I also ask what they can afford not to pay. This is not the time to worry about your credit score. Food, shelter and transportation are the most important things to pay. All else has low priority. If you own your home, you can request a forbearance. A car loan can also be extended. Credit cards and personal loans are less important.
If you’ve recently lost your job and you’re considering filing for bankruptcy, contact experienced Bankruptcy Attorney Scott Humble for a free consultation.
“Scott Humble is helpful, successful, kind and respectful. I would recommend him to anyone. I was nervous about my whole situation until I stepped into his office. After my first appointment, which was free, it was smooth sailing and I felt more relaxed. I’m proud to call him my lawyer.”
Chris Miller
Filing for bankruptcy can feel like the end of your financial life, but it’s really the beginning. The New York Bankruptcy Guide was created by Jamestown bankruptcy attorney Scott Humble to show residents how to become free of debt without sacrificing their personal belongings. Download our FREE Bankruptcy Guide.
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