Missouri Illinois Bankruptcy Attorney Foreclosure Reposession of Car

How We Can Help you

Bankruptcy Blog

Library

Castle Law Office Bankruptcy News for Missouri & Illinois | Castle Law Bankruptcy Current Events

Will Unemployment Extension Delays Mean More Missouri Bankruptcy?

For millions of Americans, jobless benefits are running out. While the economy is slowly improving after the recession, many across the country have been out of work for more than six months and are facing harsh months ahead, especially if the Senate continues to struggle passing an unemployment extension. While some argue that extending unemployment for those who have been without work for over six months is a poor idea that will lead to a lethargic workforce, others believe that extending unemployment will allow millions of Americans to keep their houses and their savings while they continue to look for new jobs.

One single mom from Missouri wrote that after she lost her job during the recession, she burned through her savings and her 401k before losing her home and then declaring bankruptcy. She now lives with her parents. She believes that not extending unemployment benefits will continue an unhealthy cycle of loan defaults and foreclosures – not to mention break up families.

The Senate could pass the unemployment extension as early as today – a move that many say could save 2.5 million people from falling behind on their mortgage payments or declaring bankruptcy. While the economic recovery is seeing improvements in many ways, such as the housing market, stock market, and consumer spending, the lack of jobs continues to be an issue for many in Missouri and Illinois. While the government provides those experiencing tough times to collect unemployment for six months after losing their jobs, the seriousness of the recent recession has government officials lobbying for more support for out-of-work Americans.

Read More About Will Unemployment Extension Delays Mean More Missouri Bankruptcy?...

back to top

Got A Question?

News

FAQs

Videos