December 6, 2010

Unemployment and Bankruptcy

A Sacramento bankruptcy attorney comments on California unemployment and bankruptcy.

The unemployment rate in California is still very high. Many people who end up facing unemployment may also end up facing a bankruptcy. The number of retail jobs may be on somewhat of a rise in the state of California, but the people who are looking for jobs in manufacturing and construction may have to continue to struggle. With the high amount of California unemployment and bankruptcy you aren't going to see a lot of people building homes in the construction sector. You can see a lot of video stores in the state of California closing and this is going to lead to an increase in California unemployment and bankruptcy.

A bankruptcy can be something that can impact a person or a corporation. A corporation does have to reshuffle assets from time to time after they get done with the bankruptcy process. A company may have to cut employees due to this bankruptcy process. The fact that so many corporations are struggling is what happens be causing an increase in California unemployment and bankruptcy. California has to find a way to get people back to work again. The retrofitting of buildings can help the employment situation in the state of California.

Please do not hesitate to contact us at our Sacramento office by calling 916.792.6025 or for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Bankruptcy Law Firm office nearest you. Please visit our website at and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Bankruptcy Law Firm's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff at Sacramento can assist you with all aspects of your bankruptcy case. We at Bankruptcy Law Firm can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

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July 26, 2010

California Unemployment and Bankruptcy

A Sacramento bankruptcy attorney comments on California Unemployment and Bankruptcy

California’s unemployment rate grew slightly to 12.5 percent in January, the state Employment Development Department reported Friday. Meanwhile, the national unemployment rate held steady at 9.7 percent. Despite the increase in unemployment in January, the state added 32,500 jobs. The construction industry saw the largest increase with an additional 16,200 jobs.

The obvious effect of unemployment is increased delinquency on debts owed. The longer in delinquency status the more likely will a lawsuit by the credit cards be initiated.

Unemployment also leads to the delinquency in the mortgage payments. Unemployment is a factor used in mortgage loan modification. In order to keep the home, employment is necessary since unemployment benefits will run out.

Bankruptcy should be considered if you’re facing mounting bills, a lawsuit from a credit card company or bank or face foreclosure on your home.

Take advantage of a free consultation with an attorney at Bankruptcy Law Firm to best understand your options.

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