Mr. Smith worked for 17 years for the same company. Then, due to a shortage of work, the company closed down. Mr. Smith was out of work for a year. He found a new job, but it pays less than his last job, and he has no benefits. He had to use his credit cards to survive during the year he was off work, and now he can't keep up with all of his credit card payments. What can he do?
What Can You Do?
Losing a job is never easy, and if it takes a while to find a new job, it's easy to get behind on your bill payments. Mr. Smith has three options. He can try to cut his expenses and get back on track. However, if his debts are too large to handle, he should consider a proposal to his creditors, or perhaps bankruptcy. Click here for more information.
posted by Questions @ 7:06 AM
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