Are you living paycheck to paycheck?

BudgetDespite everybody’s opinion that the economy is getting better, one thing is for sure – if you’re living from paycheck to paycheck, things are tough no  matter what they say.  If you suffer an illness, pay cut, or lose your job and  miss a week (or heaven forbid several weeks) of pay – you’re in a world of hurt! Roughly 42% of Americans report that they live this way, barely making ends meet.  What’s worse, more and more Americans are stealing from their future to live today – 21% of workers have stated they reduced their 401K contributions and/or personal savings in the last year and 34% say they aren’t contributing at all to such programs.  As an attorney who helps people solve debt problems, I see people making mistakes and doing things that actually make the situation worse than it has to be. They are too ashamed or afraid due to myth and rumor to discuss bankruptcy with an attorney so they first deplete their 401K, all other savings, borrow all they can from friends & family (which adds difficulty to others), and sell their possessions – all of which could have been prevented.  In most cases bankruptcy will protect your money and property.  Bankruptcy is not what it used to be.  Creditors spend millions of dollars to spread the propaganda that only bums and fraudsters file bankruptcy.   The truth is very different.  Bankruptcy is a very powerful consumer protection law and financial tool that it is an intricate part of our American economic system.  Our founding fathers took the idea of bankruptcy from the Bible and fashioned laws to give every American the right to a fresh start and a huge part of that fresh start is the protection of your money and property that will help you to begin that new life!

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