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.