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You were laid off and are now living off the support of others.

 

Does this sound like you?
Jennifer Blaine was laid off from work a year ago and is now living off of the support of family and friends. They have said they do not mind loaning her the money, but she cannot help feeling guilty. What can she do to get her finances back on track?

What can you do?
The most basic way to get your finances on track is to formulate a list of your monthly income and expenses. Even if your monthly income is coming from your family or friends, you can still find ways to make that money go a long way. If you are able to, try cutting back or eliminating some of your expenses. That way, you can use the extra money to begin developing savings. If cutting back seems impossible, you may want to consider a debt management plan or proposal to your creditors. At worst, you may need to file for bankruptcy. A licensed bankruptcy trustee can help you determine the best option for you. For more information, click here.

    
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