I’m unemployed and can’t pay debts

If you’re unemployed and can’t pay your debts there are things you can do.

1.  Assess your financial situation.  Are you already behind on bills or just currently at risk if you don’t find work?  If you’re at risk of being behind on bills, start to make cuts where possible.  Reduce your expenses as low as possible.  Document cancellation of any services like Cable or other monthly expenses that aren’t necessary.

2.  If you’re already behind on bills, immediately contact your creditors and inform them that you’ve lost your job and are working on a plan.  Give them a specific day to call them back then make sure you stick to that obligation.

3.  Continue to look for work.  We haven’t seen much value in job sites as they’re overwhelmed with applicants. Network with friends, family and former co-workers.  You’re more likely to find work this way even though it may not be in the industry you prefer.  Cash flow is critical for business and family so do what you have to do.

4.  Don’t ignore collection calls or letters, this will only make matters worse and could force an unnecessary lawsuit.  Always respond!

5.  Cash is in nowadays so liquidate things you don’t need.  Ebay and Craigslist are good options for selling used items.

6.  Avoid bankruptcy (if possible).  Bankruptcy and severely damage your credit for up to 10 years but for some it may be the only option.

7.  Consolidate your debts.  This practice keeps your credit intact, stops collections activities and achieves the pay-down of your debts over a period of time.

For more information on debt consolidation call (888) 233-3213 or fill out the short form below and a debt relief specialists will contact you.

1. Your Name(required)
2. Email(valid email required)
3. Telephone(required)
4. State
5. Debt or Mortgage Amount(required)