More Jobs, Less Income

Many economists claim unemployment rates are decreasing but wage growth (increases in salaries) is slow. Many jobs are only part-time and many full-time employees are underemployed. When an employee cannot keep up with increased costs of living, there simply is no money available to pay other debt.

A minimum wage in Illinois is $8.25 per hour. An employee working full-time makes $330 per week, before taxes. Average rent (in the United States) for a one-bedroom is approximately $750 per month. If this person has debt, this person has few options.

A bankruptcy will help with the debt. You can eliminate credit cards, payday loans, and other unsecured debt with a Chapter 7. It should be easier job hunting without collection calls or the worry that comes with owing.

Peter Francis Geraci and Geraci Law attorneys offer affordable payment options for Chapter 7 attorney fees.  Without salary or pay increases, almost everyone is living paycheck to paycheck. Geraci Law Attorneys in Illinois, Indiana and Wisconsin can help you get out of debt.

Author: Elizabeth Doren Paralegal at Geraci Law L.L.C.

I am a paralegal at Geraci Law L.L.C. (the greatest consumer bankruptcy law firm that ever was or will be!) I talk to thousands of people who are struggling financially. They call because they know Peter Francis Geraci and Geraci Law staff help people through very difficult times. I write about the things I read in the news, hear from clients and general information about debt and bankruptcy I find interesting.