memphis bankruptcy attorney | memphis bankruptcy lawyer

When the federal government first shut down last week, not only did federal workers lose their incomes, but it also wasn’t clear if they’d ever be repaid for that lost time.

Then over the weekend, Congress passed a bill to make sure furloughed federal workers would receive back pay. The decision was welcomed by federal workers, but it doesn’t really solve all of their financial problems.

See, back pay isn’t good enough for people who live paycheck to paycheck. Those families still have to pay the rent and buy groceries. And with 76% of families living this way, any missed wages can be devastating.

I see this all the time at my bankruptcy firm in Memphis. One missed week of work from something like an illness can ruin a person’s credit, damage their reputation with creditors, and keep them from paying for important daily needs, like food and gas.

As a country, so many of us live in fear that we might miss one check or have an emergency. We’re constantly at financial risk, teetering on disaster.

There are a few things you need to know if you feel like this:

  1. You’re not alone. Remember, 76% of Americans live paycheck to paycheck, with 1 in 4 having no savings at all.
  2. You do have options. Changes in spending/budgeting, refinancing, and bankruptcy could all help.
  3. Bankruptcy lawyers (well, the good ones) don’t just file bankruptcy. Bankruptcy isn’t right for everyone, so we start by talking closely with you about your financial situation. There’s no cost, and at that meeting we tell you more about your best options.