Handling bills during a layoff or money crunch

You or your spouse are laid off and suddenly you wonder how you will pay your bills, or there is a health crisis in the family, Marilyn Kennedy Melia • Bankrate.com
Highlights some suggestions:
*Credit experts warn: Have a plan before you plea.
*Contact lenders early, but there are no guarantees of help.
*It's up to you to make sure your priority bills are paid first

Let's take each of the suggestions, "Have a plan before you plea"
yes you can approach all your lenders and plead hardship however be prepared for the consequences such as them lowering your credit lines. You can approach the credit card companies yourself or seek help from credit counseling services, but don't just ignore the problem. Did you take out insurance such as insurance when you become unemployed? Some creditcard companies offered it. Most mortgage companies and credit card issuers have disability insurance but few offer insurance for the laid off worker. This all goes to her advice "Contact lenders early, but there are no guarantees of help".

If you have a savings account (6 months savings) to tide you over till you get another job use it first not your 401K, now lets discuss,
"It's up to you to make certain your priority bills are paid first"
lets describe what a "priority bill" is...
*First and foremost your Mortgage, that should be priority one make that payment after you contacted your mortgage company and find out if and how they will work with you.
* Utilities, Electricity, gas, Water, but what about those cable bills and cell phone bills? (we'll get to that later)
*Food, you have to eat, spend less with our tips on using coupons, etc.Don't eat out especially at fast food places because that costs more.
*Transportation, save gas, drive only when necessary.Keep up with all insurances.

Those are the major bills that should be paid first, now you're asking but what about credit card bills, try to pay the minimum if at all possible, and again try to negotiate on your behalf or get a counselor to do it for you.

With these strategies you can survive a job loss or money crunch.

Handling bills during a layoff or money crunch

You or your spouse are laid off and suddenly you wonder how you will pay your bills, or there is a health crisis in the family, Marilyn Kennedy Melia • Bankrate.com
Highlights some suggestions:
*Credit experts warn: Have a plan before you plea.
*Contact lenders early, but there are no guarantees of help.
*It's up to you to make sure your priority bills are paid first

Let's take each of the suggestions, "Have a plan before you plea"
yes you can approach all your lenders and plead hardship however be prepared for the consequences such as them lowering your credit lines. You can approach the credit card companies yourself or seek help from credit counseling services, but don't just ignore the problem. Did you take out insurance such as insurance when you become unemployed? Some creditcard companies offered it. Most mortgage companies and credit card issuers have disability insurance but few offer insurance for the laid off worker. This all goes to her advice "Contact lenders early, but there are no guarantees of help".

If you have a savings account (6 months savings) to tide you over till you get another job use it first not your 401K, now lets discuss,
"It's up to you to make certain your priority bills are paid first"
lets describe what a "priority bill" is...
*First and foremost your Mortgage, that should be priority one make that payment after you contacted your mortgage company and find out if and how they will work with you.
* Utilities, Electricity, gas, Water, but what about those cable bills and cell phone bills? (we'll get to that later)
*Food, you have to eat, spend less with our tips on using coupons, etc.Don't eat out especially at fast food places because that costs more.
*Transportation, save gas, drive only when necessary.Keep up with all insurances.

Those are the major bills that should be paid first, now you're asking but what about credit card bills, try to pay the minimum if at all possible, and again try to negotiate on your behalf or get a counselor to do it for you.

With these strategies you can survive a job loss or money crunch.

Ways to save money tips

Cable bills are a major hit to any budget, there is a way to cut the coaxial cord, read the entire article in, of all places, Popular Mechanics
Interesting ideas.

Another way to save money is on hosting your sites, you will not get a better deal than with these gals MomWebBlogs and hosting, Visit the Mom Webs Blog
Want a blog but have no idea how to install one let alone what content to post and just don't have the time to update it? We have the answer for you, Momweb hosting offers PREloaded Blogs!!In fact, you even have a choice to get a pre-loaded version that has the possibility of making money for you by the end of the day.
What a great concept!

Check them out!

Ways to save money tips

Cable bills are a major hit to any budget, there is a way to cut the coaxial cord, read the entire article in, of all places, Popular Mechanics
Interesting ideas.

Another way to save money is on hosting your sites, you will not get a better deal than with these gals MomWebBlogs and hosting, Visit the Mom Webs Blog
Want a blog but have no idea how to install one let alone what content to post and just don't have the time to update it? We have the answer for you, Momweb hosting offers PREloaded Blogs!!In fact, you even have a choice to get a pre-loaded version that has the possibility of making money for you by the end of the day.
What a great concept!

Check them out!

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To get your own policy, go to http://www.disclosurepolicy.org

Disclosure Policy

This policy is valid from 30 April 2009
This blog is a personal blog written and edited by me. For questions about this blog, please contact terrivw@yahoo.com.

This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received will never influence the content, topics or posts made in this blog.

All advertising is in the form of advertisements generated by a third party ad network. Those advertisements will be identified as paid advertisements.

The owner(s) of this blog is compensated to provide opinion on products, services, websites and various other topics. Even though the owner(s) of this blog receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products.

The views and opinions expressed on this blog are purely the bloggers' own. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. This blog does not contain any content which might present a conflict of interest.

To get your own policy, go to http://www.disclosurepolicy.org

Santa Claus Coloring Pages

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