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Loss of Income and Bankruptcy

Liviakis Law Firm Team


Loss of income is one of the main reasons given when consumers file bankruptcy. Job-related financial stress and layoffs being the reasons cited most. Being unemployed and underemployed with no reliable source of income makes it next to impossible to pay your debt. Filing bankruptcy can give you financial relief by eliminating all of your qualifying debt.

Unemployment Benefits

Some are fortunate enough to get unemployment benefits when they lose their jobs. The amount is rarely sufficient to cover your debt, and the government checks won’t last forever. It may help you pay the necessities while searching for another job. Whether you receive unemployment checks or not, your bills may soon pile up, and you could risk losing your home or your vehicle.

Savings

We are advised to have a few month’s worth of our monthly debt saved up for situations just like this. Rarely do we act on this advice. Most of us make enough to last until the next payday, and if the payday doesn’t come, we soon find ourselves overwhelmed in debt and swamped with creditor phone calls demanding payment.

If you have no income and no prospect of a job in the near future, even bankruptcy may not save some of your assets. Your creditors will demand to be satisfied in some way. Bankruptcy can stop your creditors from calling and give you and your attorney the time to get your finances in order and make a plan to eliminate them.

If you would like to know how you can get financial relief, contact an Elk Grove bankruptcy attorney today.

Our Office

Former Office
1215 K St

Sacramento, CA 95814

Phone: 916 459 2364
New Office
2377 Gold Meadow Way
#100

Gold River, CA 95670

Phone: 916 459 2364

Client Reviews

Mr. Liviakis is extremely knowledgeable and answered all of the questions that we had about our situation. He made a really difficult time manageable with his help and expertise. I would definitely recommend...

Lindsey Joyner

Mik is a great attorney. Very friendly & professional. Price is was bit high compared to other firms. Probably the highest I've seen. If price your thing, checkout other firms. Other than that, Mik will get the...

Oi Vinn

Mik helped us save our home and settle with creditors during the pandemic after we were forced to close our family business for over a year. I am forever grateful. He was kind and professional and followed up...

Jina and Steven Hale

Mr. Liviakis was timely and professional. He patiently answered questions and explained the process. He provided handouts that clearly outlined due dates. The firm's paralegal was very easy to work with. I...

Wes Pohl

I nothing but great Experiences, and great service.

Tony Boone

Positive: Professionalism, Quality, Responsiveness, Value

Linda Todd

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