Job layoffs aren’t fun for anyone involved. If you haven’t saved properly, it can put you in financial stress full of bills and debt you can’t pay. There’s help.
Hello, I’m Darrell Castle – an attorney licensed to practice law in the state of Tennessee and today, I’m talking about the unfortunate story, or the sad story, whichever way you want to look at it, of people losing their jobs.
Here in my county, Shelby County (that’s Memphis), people are losing their jobs, a lot of municipal school employees and teachers.
There was an announcement today that about 800 of those people are probably going to lose their job. What if you were one of those people? What would you do?
You may be thinking, “well, I’m not one of those people,” and if so, that’s good if you’re not one of them. But, you might also think, “Well, what if it were temporary? It was a temporary layoff.”
Well, you remember what John Amos, the father in the old Good Times TV show, used to say, “There’s nothing more permanent than a temporary layoff.”
The point is, you have to make plans.
Why would the school system here in Shelby County let go or lay off 800 people? Well, it’s in their best interest to do so. Because they don’t want to pay them. That is the obvious reason.
So why not do something that is in your best interest? You either deal with the layoff or prepare for it – whichever. And that means get out of debt by whatever legal means are necessary to you.Take steps to help yourself.
Your employer, whether it’s the government or anyone else, must act in his own best interest. That is business. And so, why don’t you act in your best interest? Do something to help yourself.
For one thing, stop spending so much, stop buying things that you don’t really need with money you don’t really have. Start saving money. Start trying to pay down debt. If you can, if you’re in a situation in which you have debt you can’t pay and you get laid off, consider bankruptcy to deal with it. Do something that is in your best interest for once in your life.
And if it’s temporary, that’s great. You go back to work and everything’s fine. Think of bankruptcy, if you have to do it, not as failure, but as a solution. It is a solution to the economic and financial problems that you have.
That’s the way I see it, folks and that would be my advice to you.