Unemployed? What's next? Even at best...you may get 70% of your old salary, and that could be weeks or months away.
Back in February, you were employed, looking at possible raises in 2020, and the future seemed bright.
Now as July finishes up, you've been unemployed for 5 months, unemployment is drying up, the $600 per week bonus appears to be gone, and the prospects for the future look dim. At best, according to political suggestions this week, you may qualify for 70% of what your old weekly salary was (with a $500 cap)...and experts say most states won't be able to roll that out for weeks, if not months. Until then, they say, good luck....and here's an extra $200 a week.
The new stimulus package being promoted, is called the HEALS act (an acronym for Health, Economic Assistance, Liability Protection and Schools Act)...and until it can be rolled out, the plan calls for two months where unemployment beneficiaries would receive a flat $200 a week on top of what they would otherwise receive at the state level. If and when the HEALS act would actually begin, recipients (if still unemployed), could receive up to 70% of their old salary (with a $500/week cap). See the story here.
Most families admittedly were already living paycheck to paycheck, and this new package ultimately tells them they'll need to get by with even less. The fact remains that the vast majority of Tennesseeans were unprepared for a crisis such as this, the goal posts keep getting moved, and as the money tap is now slowly being turned off...bank accounts will dwindle, debts will continue to mount, and bill collectors will be coming out with guns ablaze.
Smart families should be preparing to take legal steps now.
If you already feel your financial situation is out of control...contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888. The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today!
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