As Stimulus funds and federal unemployment start to arrive in folks’ bank accounts, this is an important time to consider how to best use those funds and MAKE A PLAN.
What is your plan for today? If you are behind on rent or low on food, it is a good idea to use the funds to pay for housing and food. Think of necessities that need to be met. While evictions are put on hold, the past rent WILL be due and any postponed mortgage payments will accrue interest if your lender even agreed to put off payments. These payments do not just go away.
What is your plan for tomorrow? If you don’t have debts, put the money in savings as a recession may be on the horizon and your unemployment may not be as secured as you think. If you have small debts and can use the funds to clear those, great.
But if the stimulus money and this higher temporary unemployment is not enough to get out of debt and your future employment income is uncertain, you may need a new plan.
Giles & Lambert is a federally designated debt relief agency who can help you plan on the best use of funds using the federal laws for Chapter 7 and Chapter 13 to eliminate or restructure debts and protect you from creditors.
Contact us today to make a plan to protect yourself.
As Stimulus funds and federal unemployment start to arrive in folks’ bank accounts, this is an important time to consider how to...Click to View Linked Article