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Job Loss Does Not Mean You Will Lose Your Home – If You Plan Carefully

Losing your job after years of employment and enjoying a steady paycheck is a shock to anyone. Unemployment compensation does not replace the regular paychecks you previously received. This may be the very situation workers at the US Foods facility in Altoona, Pennsylvania will experience with reports that its warehouse operations will soon close.

When a sudden change in employment and income occurs, many people do not consider that an immediate change to the household budget is required. It is critical to place the immediate needs of the family and purchases of the absolute necessary items at the highest priority to prepare the family until new, replacement employment can be found. Unnecessary household purchases must stop, and cash must be saved for emergencies to stretch the household budget as far as possible.

Mortgage payments, automobile payments, insurance and utilities are key expenses that you must consider when preparing a new budget and recovering from a loss of employment. In some cases, you may need to choose between paying for the necessities to maintain a residence and meet the needs of your family or pay credit card bills, medical debts, and other similar expenses. If you simply cannot afford to pay for the necessities and provide some payment to the credit card companies or medical providers each month, then bankruptcy relief can be an option. Bankruptcy relief is an option that many people fail to consider as they plan and develop a new budget following a loss of employment. The benefits that bankruptcy provides should not be overlooked. Contact Harold Shepley & Associates before you decide to invade your savings accounts and retirement accounts.

Every family faces unique circumstances and planning to use bankruptcy relief can be complicated. Harold Shepley & Associates can help you evaluate your circumstances and advise you if bankruptcy relief can help you reach your goals. Call our office today at 1-877-827-9006. The consultation is FREE.

The information provided in this article does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available in this article are for general informational purposes only. No attorney-client relationship is established between the reader, user or browser and the website owner, author, contributors, or respective law firm employees by using, viewing, browsing, or clicking on the link to this article or related links. This website and article may contain links to other third-party websites. Such links are for the convenience of the reader, user, or browser; Harold Shepley & Associates, LLC its members and staff do not recommend or endorse the contents of the third-party sites. Readers of this article should contact legal counsel to obtain advice with respect to any legal matter in their respective jurisdiction. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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