There is a must read article in the Star-Telegram that shares the stories of ordinary Americans who suffered job losses and eventually became homeless. One particular story stood out, about a woman who became homeless after losing her job as a certified nursing assistant.
The article said:
"I never expected this," said McGregor, who is 49 and divorced. "It wasn't drug-related or because of alcohol or domestic violence. Mine was just pure and simple mismanagement and not being prepared. I've always worked. I thought I had a pretty good job."
Being prepared is absolutely essential to keep yourself afloat financially. Life is full of surprises, job losses , foreclosures , sudden illness etc. To prevent these inevitable emergencies from sinking you financially you must find out how you will handle them when and/or if they occur.
One mistake that many people make when they experience a job loss or other emergency that impacts their financial well-being is attempting to keep all of their bills paid by completely depleting their savings and other assets. Do not deplete your savings and assets to pay unsecured debt. Doing so could actually place you in bigger financial jeopardy. The bankruptcy law allows you to exempt many assets while simultaneously discharging debt.
Contact a Dallas-Fort Worth bankruptcy attorney to learn about your bankruptcy options.