Columbus, Ohio (Vocus) August 31, 2010
Apprisen Economic Advocates is a national nonprofit customer credit counseling agency that supplies individual economic counseling and financial education. Listen to the news or read your local paper and the economic news does not look to be getting any much better. The typical American household is only a paycheck or two away from economic distress.

The initial reaction to becoming laid off can bring feelings of fear, anger, disbelief and sadness, says Michael S. Kappas, President and CEO of Apprisen Financial Advocates. It is crucial to acknowledge these feeling, but move beyond them to take control of your finances. Possessing a get-it-done attitude is vital to surviving a layoff throughout these challenging times, adds Mr. Kappas.

Apprisen offers these layoff monetary survival suggestions:

Crunch the numbers:
Figure out your current monthly net income. Identify how a lot of pays are left at your present earnings and estimate your new income level soon after the layoff.

Make housing your priority:
There are several choices available for financially strapped homeowners, including loan modifications and forbearance applications. Make contact with your mortgage organization instantly. If you have difficulty functioning with your bank or are uncomfortable operating with them, contact a HUD approved housing counseling agency. They will aid discover the proper remedy for your situation. The counseling is free of charge.

Get lean:
Every single month spend your fundamental demands very first (utilities, food, medicines, and transportation). If money remains, keep other creditor accounts present.

State the information:
Make your creditors aware of your employment status. Ignoring them will only add tension and produce more troubles later. Communicating with them increases the likelihood they will perform with you to explore choices, such as particular hardship applications. Only agree to payment arrangements that are realistic for your new circumstance.

Avoid the credit trap:
The temptation to use credit throughout a financially-tight time may seem like an simple answer but can lead to added debt with lengthy-term consequences.

Dont go it alone:
Take benefit of community sources such as social service agencies and faith-based organizations and make them element of your employment transition team.

For extra financial details on surviving a lay off and cash management and debt counseling, make contact with Apprisen at 800.355.2227.

Apprisen Financial Advocates, a national nonprofit credit counseling agency, has been assisting consumers handle their finances and get out of debt since 1955. Certified counselors offer funds management, debt counseling, HUD-authorized housing counseling and monetary education. Services are provided in-particular person in ten states by means of regional offices and nationally by telephone or through the World wide web. The oldest nonprofit credit counseling agency in the country, Apprisen Financial Advocates is identified in its local communities as Consumer Credit Counseling Service (CCCS). Accredited by the Council on Accreditation (COA), Apprisen is a member of the National Foundation for Credit Counseling (NFCC), the Much better Business Bureau (BBB), and AICCCA. For far more information get in touch with 800.355.2227 or go to http://www.apprisen.com.

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