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Bankruptcy Attorney
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Job Loss and Budgeting

According to a Marist Poll, 77% of New York State registered voters say they personally know someone who has lost their job in the last 6 months. See the full article here. Well, we may be in Central Texas, but, as a Waco bankruptcy attorney, I have people in my office frequently due to job loss. Since most households live paycheck to paycheck, job loss is a very real fear. If it happens, you may not know where to turn.

It is extremely important to budget your money and prioritize your bills when there is not enough money to pay everyone. You have to pick who gets paid and who doesn't. Unfortunately, many people will pay the credit cards and payday loans first because the credit card and payday loan companies will call and harass them upon a missed payment. However, in Central Texas, a credit card and payday loan company cannot take your home or car. However, the home mortgage company and car finance company can take the house and car away. Make a list of your bills and how much the monthly payments are. For example:




























































CreditorAmount Due
House$750.00
Car 1$300.00
Car 2$345.00
Lights$150.00
Water$100.00
Insurance$200.00
Gasoline$400.00
Food$750.00
Cell phone$200.00
Cable and internet$100.00
Mastercard$200.00
Visa$375.00
Discover$150.00

You pay your bills going down the line. When you run out of money, the creditors below the line won't get paid that month. It is sad, but unfortunately, that is reality. You have to put the most important creditors at top, NOT the loudest.

If you are continuing to have trouble every month, please call today at 254-633-2876 or email me at info@TheKehlLawfirm.com for a FREE, no-obligation consultation with an experienced Waco bankruptcy attorney.


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