A warm summer afternoon in 1970 found me on the deck of a decommissioned ship anchored in Narragansett Bay in Rhode Island. I had spent the morning in the classroom learning how to fight shipboard fires, a part of my Naval officer training. As we waited for our instructors to ignite a fire in the decks below, I recalled the morning's instructions to "keep calm and stay low." Climbing down the gangway, we quickly encountered thick black smoke rising up from the bowels of the vessel. Visibility was limited, and the acrid smell of smoke was overpowering. As we approached the orange glow ahead of us, the heat became intense. Suddenly, several members of our crew, forgetting our instructions, panicked and rose from their stooped positions. They were immediately overcome by smoke and fumes, collapsed to the deck and had to be removed to a nearby hospital. Those who followed our instructors' advice survived the harrowing experience with little more than singed eyebrows.

After my service as a Navy JAG (lawyer), I opted for the private sector and began a career as an insolvency lawyer. That specialty has, over the years, brought me in touch with many clients confronted by what to them seemed overwhelming financial pressures and faced with the loss of jobs, homes and even their health. Some of the financial problems traced to unwise investments. Others stemmed from a lifestyle built on excessive debt. In some sad situations, the difficulties related to medical procedures that were not covered by insurance. Whatever the cause, creditor pressures inevitably took their toll both on pocketbooks and emotions of my clients.

Although economic ups and downs have been a fact of life in my profession, the effects of the financial "perfect storm" that has swept the country the past eight months or so are broader than I have ever experienced. Few have escaped unscathed. Some have lost jobs and now face prolonged periods of unemployment. Others have defaulted on their mortgages and are in jeopardy of losing their homes. With income short, credit card debt has steadily mounted. Bankruptcy filings are up. Even retirees have been impacted as the value of their retirement reserves has plummeted and the future seems much less certain.

Emotions have been close to the surface for clients of mine facing serious outfall of the latest financial crisis. Some are angry, frustrated and fearful. Hardly a day passes when a distressed client doesn't ask me to speculate when things will get better, when home prices will stabilize, when business activity will pick up and when jobs again will become abundant. Although some pundits have ventured that a turnaround is just around the corner, most of us now recognize it will take time for things to improve. In the meantime, I believe that the advice given to me in my Navy days to "keep calm and stay low" is about as good as any for those trying to weather the financial storm. The advice implies a mixture of positive attitude and measured action. The same counsel was given by the Prophet Joseph Smith when, confined in the Liberty Jail, he said: "Therefore, dearly beloved brethren, let us cheerfully do all the things that lie in our power, and then may we stand still, with the utmost assurance, to see the salvation of God, and for his arm to be revealed" Doctrine and Covenants 123:17).

I honestly cannot say that, while fighting a hot and smoky shipboard fire years ago, calm came easily to me. In times of crisis, fear and panic seem to be the more typical reactions. However, those emotions usually make it more, not less, difficult to deal effectively with problems. Calm and cheerfulness in the face of financial pressures may require an attitude adjustment. However, such an adjustment should come easier for Church members because of our view of life and the firm belief, as stated in Doctrine and Covenants 122:7 that adversity gives us experience and is for our ultimate good.

One benefit of financial adversity is refocusing on the truly important things in our lives. In "Suite Francaise," a story about the evacuation of Paris at the beginning of World War II, Irene Nemirovsy observed: "Rare was the person who cared about their possessions; everyone wrapped their arms tightly around their wife or child and nothing else mattered . . ." In that story, wartime caused an important reevaluation. For those dealing with the current financial crisis, cheerfulness may come easier realizing that even the most persistent creditors cannot take from us our family, our religion, and the other important things of life.

As I recall the experience, particularly staying low in a burning vessel was not easy. Similarly, constructive action in the face of mounting financial pressure can be difficult. Financial difficulties are often accompanied by second guessing, guilt, doubt and even fear of the future. Having once been burned, it is understandable why some become indecisive and virtually frozen in place. However, as the Prophet Joseph's Liberty Jail experience shows us, even if certain avenues may be temporarily closed, we at least need to be about those things that are within our power. For those facing financial challenges this can include controlling spending, developing a crisis budget and, for those who have lost them, looking for jobs. Financial pressure usually translates into creditors demanding payment. Working toward a viable debt repayment program is a good goal and usually results in creditor accommodation. With a positive attitude and measured action we can depend upon the quieting and sustaining influence of a loving Father to get us through difficult times.

J. Robert Nelson, a member of the Midway 5th Ward, Midway Utah Stake, has worked for 35 years as an insolvency lawyer working on both major business and personal matters.