People from all over the country have been reading about the current government shutdown. No matter what a person's political stance is on the situation, the fact is that the partial shutdown is taking a profound toll on people in Atlanta and elsewhere who are currently unable to work.
Being furloughed by the shutdown means that there are thousands of people in Atlanta alone who are not able to work and therefore, cannot collect a paycheck. This includes 9,000 employees at the Centers for Disease Control and Prevention right here in Atlanta. The situation has made many workers understandably concerned about their financial stability. However, the workers and families affected by the shutdown are certainly not alone. And it is important to remember that there are options for managing finances during difficult times.
One of the primary fears of Atlanta workers is that they will go into debt without their regular source of income. This may be a possibility for some families who are already trying to manage credit card bills, medical bills and mortgage payments. And while this can be a stressful situation, people should remember that they have options when it comes to debt relief, and this may include Chapter 7 bankruptcy.
Working with an attorney can be a good way of taking control of the situation and working toward a solution. In general, those who file Chapter 7 bankruptcy are able to discharge some debts permanently and, under Georgia law, are generally able to keep their homes as well. With debts wiped out and the ability to keep a home, people are able to make a fresh financial start and begin planning for the future again.
Meeting financial obligations can become impossible for a number of reasons. If and when this happens, people can be overwhelmed by interest rates, late payments and harassing phone calls. This can be especially upsetting for a person who is unable to work for reasons beyond their control, including a partial government shutdown. But reaching out for help can be a good way of solving debt problems and getting back on track financially.
Source: The Atlanta Journal-Constitution, "Idled federal workers fear lengthy downtime," Michael Kanell, Oct. 3, 2013