Law Offices of Mark S. Nelson

What Do I Do After I Lose My Job?

Getting laid off or fired from a job can be a scary and unstable experience for anyone. It's a surprising life event that can catch you off guard and leave you feeling lost and confused. However, you can avoid this difficult time period if you know the steps you would have to take in the event of losing your job. Being prepared is the number one way to deal with conflicting life circumstances, so here are some options to help you prepare in case of unemployment.

File for Bankruptcy

There is no requirement to be employed if you file for bankruptcy, and actually, bankruptcy can help unemployed people get back on their feet. Chapter 7 bankruptcy is probably your best bet if you're unemployed because it is designed to wipe out any unsecured debts you had (such as credit card or medical bill debt) without having to pay back any creditors. Chapter 7, or personal bankruptcy, is a great option for sudden unemployment, especially if you have a lot of unsecured debt. You are eligible for Chapter 7 bankruptcy if you meet the income requirements and have property in the United States. For more information on this unemployment recovery option, contact the Law Offices of Mark S. Nelson.

Alternative Recovery Options

Filing for bankruptcy is a viable option for some people, but there are other equally helpful things to do once you've filed for unemployment. The first step is to rework your budget; this means taking a look at your savings accounts and factoring in any unemployment money you'll receive. Updating your budget also includes reviewing any upcoming expenses you'll have while you look for a new job, as well as calling your service providers to see if you can get discounted rates. Once you update your résumé and get a temporary part-time job, spend all of your free time looking for your next full-time job. Take advantage of this time to network and meet other people in your career field that could offer you connections.

If you or someone you know is unemployed and is interested in Chapter 7 bankruptcy or other unemployment recovery options, don't hesitate to talk to one of our attorneys for a free consultation.

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Law Offices of Mark S. Nelson

215 McHenry Ave.
Modesto, CA 95354

Phone: 209-353-1277
Fax: 209-529-6207
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