You were laid off at work and now cannot afford to pay the bills.

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Does this sound like you?
The company you were working for was forced to shut down and as a result, you’ve been laid off. You’d been working for the company for quite some time and before the shutdown you were making a substantial income. You have yet to find a new job and are beginning to fall behind on monthly payments. What should you do?

What can you do?
The first step is to make a list of monthly expenses. By identifying your specific expenses, you will be able to determine which ones you can reduce.

If you are still, after reducing your expenses, unable to make your monthly debt payments, you may want to consider a debt management plan, a proposal to your creditors, or possibly even bankruptcy. Bankruptcy should be considered the last resort, but can give you a financial fresh start. To research your options further, contact our Cambridge bankruptcy office for a free consultation, or email your questions to our bankruptcy trustee in Cambridge.

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