The Texas Workforce Commission has announced that the work search requirement, a long running traditional requirement for keep collecting unemployment benefits, will come back to life beginning November 1, 2020. This means that those seeking continued payments will need to submit proof of at least 3 job searches per week in order to continue receiving benefits as of the November 15 certification date.
This is an important milestone for families whose furlough due to Covid has become a permanent lay off due to reduction in staff, or failure of the employer. People will need to make hard choices about how to move forward.
For those whose family income is sustainable at a survival level, but who cannot continue paying credit card bills or auto leases for luxury automobiles, a Bankruptcy Chapter proceeding may be the best alternative. Debtors in bankruptcy not only get relief from unsecured debt, but they get the right to accept or reject outstanding contracts. This means that the luxury car you leased pre-Covid can become someone else’s problem in light of a new, Post Covid, family reality. Before you withdraw funds from a 401K, or IRA, just to keep paying for things you cannot afford, take a hard look at your lifestyle.
This article is written by an attorney at Attorney Donald Wyatt PC. Always consult an attorney before making any legal decisions. To make an appointment today, please click here to contact us.