Bankruptcy and Job Loss: Attorneys in Maui
Unemployed? Struggling with Debt? We Can Help!
Many people unfortunately lose their job. This is all too common in the
world. No matter how hard you work, and even if you are a model employee,
there are times where life hits you in a way you weren’t expecting.
Maybe you get laid off, or a massive change in structure leaves you without
a position, or your company has just decided that they don’t need
your services anymore and choose to let you go. Whatever the reason, there
are many ways you can lose your job. With so many ways to lose your job,
there are also many ways that you can be put into financial strife.
When someone loses a job, they are also losing a significant amount of,
if not all, of their income. That income is what people use to live their
lives and pay for their amenities. Not everyone makes enough to pay for
everything on their own. Sometimes they need assistance and are already
doing everything they can to scrape by.
These are the people who are the most vulnerable when it comes to bankruptcy.
They already are barely scraping by as is, and when a significant life
change such as a job loss happens, they become extremely financially vulnerable.
This is why it’s so unfair when it’s just assumed that someone
that is filing for bankruptcy is a person that was unable to properly
budget themselves. It’s not accurate. These are almost always people
that are in vulnerable positions, trying to just make it by.
When a sudden change happens in their life, they are suddenly unable to
pay basic amenities such as:
- Food
- Rent/mortgage
- Bills
- Car payments
When we lose our income, we lose more than just the ability to pay for
possessions. We lose our sense of security. We immediately become concerned
about how we’re going to maintain our current lifestyle. This can
lead to dangerous mistakes that cause even greater financial strife.
Don’t Take Out Unnecessary Loans
When you are in need of money quickly, you are likely going to consider
taking out a loan. Depending on the situation, this could be beneficial
to you, but you must also consider a few factors, especially if it’s
post job loss.
How Soon Until You Get a New Job?
Are you certain you will be able to get a new job quickly and thus be able
to pay the loan off fast? Then a loan may be a good option for you. The
problem is, many people that are in these situations are already not well
off financially as is.
Bankruptcy is when your debt is far too deep and there doesn’t seem
to be a potential exit strategy. People who lose their jobs end up in
this situation by maxing out credit cards, taking on loans they can’t
afford, and missing payments because they have to decide between food
or the mortgage that month.
If this is the situation you’re in, then don’t let it be. Look
into your options and find ways to receive help. You may already be deep
enough into financial strife where you qualify for bankruptcy. If this
is the case, then we can help you.
Come to our firm in Maui for a consultation about your bankruptcy. The
first consultation is always free, and we will be able to see if this
is what you need to recover from your finances. Then, if we do believe
that you need to file for bankruptcy, we will begin the steps necessary
to make that process happen.
