How to Assess the Financial Health of Mesa, AZ

By Clint W. Smith | Published on September 12, 2011 | 0 Comments

Clint W. Smith, P.C., is a bankruptcy lawyer in Mesa, AZ, so he has a good window through which to observe how his local compatriots are faring economically. In some parts of the country, politicians and professionals are chanting the end of the recession, but in Mesa, the recession is still strongly felt. Smith feels confident in this assessment because of how many people are still entirely out of work or underemployed. And for those that do have work but can’t pay their bills on a single income, the only decision is to move in with other family members and friends, resulting in many combined households. Indeed, the financial portrait of Mesa is far from normalized.

Those people who have combined households may seem like they’ve made a last-ditch effort to save their finances, but as Smith explains, such a decision could be as much preventive as reactionary. For example, imagine being behind on mortgage or rent payments, but at least being able to hold down a job. Remaining in that kind of situation could mean almost certain economic ruin down the road. But deciding to move in with friends or family, or to combine households, could be the decision that ends up saving a career instead. So deciding to combine households could be extremely prudent. Nonetheless, the whole affair is a bittersweet one, says the Mesa, AZ, bankruptcy lawyer: People can’t afford a house payment, so they try a loan modification. Maybe one or both spouses are out of work, so they simply can’t keep up even with modified loan payments. Soon enough, the empty-nester couple gets to the point where their house is going into foreclosure, so they decide to move in with their kids. Such homes feature perhaps three generations, from the grandparents to the parents to their kids. The positive effect is the family unity. But the negative effect, of course, is the loss of the house. Sometimes, however, this scenario’s bittersweet taste can be avoided. In that sense, there’s an ironically positive effect to the increase in struggling couples, and the positive effect regards Smith’s own work as a Mesa, AZ, bankruptcy lawyer.

Simply put, a greater amount of people having trouble paying mortgages means there’s more work for Smith to do—not in the self-serving sense, but in the helpful sense. A bankruptcy lawyer in Mesa, AZ, plays a pivotal role in tough economic times. While Smith can’t solve all his clients’ problems, he can certainly apply his expertise to help solve cash-flow problems and help lift his clients out of their crushing debt. It’s a worthy mission to leverage the power of the law to help people shake off the fetters of debt. Smith’s clients are dealing with constant aggravation from creditors—predatory creditors they can’t get off their backs alone. With a little help, maybe, just maybe, they can stay in their home.