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The recession of 2008 hit millions of Americans hard, and many of them are still recovering. While a large number of people who had lost their jobs are now employed, they are finding that they are suffering from underemployment. Millions of workers have found it necessary to accept jobs with a salary that cannot sustain the expenses that come with life. Even after all of the “extras” have been removed from your budget, many people are finding that it is still difficult to make their payments on their homes, cars, food, and basic living expenses. Bankruptcy is one of the most feasible options.

Most people have a negative connotation regarding bankruptcy because they often base it on a person’s irresponsibility and lack of judgment. However, the need to file for bankruptcy is not always a result of bad judgment. For many, underemployment becomes a significant factor when people do have a job yet the income is not consistent, stable, or adequate to pay off debt while also providing for the things that they need to survive. Both Chapter 7 bankruptcy and Chapter 13 bankruptcy offer benefits to those burdened by underemployment.

Chapter 7 benefits:

  • People are allowed to keep their cars and their home
  • People can continue to make payments toward their cars and home, often with reduced monthly payments and an extended payment period
  • People can keep paid-for items (e.g. furniture, clothing, car, etc.)
  • Once bankruptcy is completed, unsecured debts such as medical bills and/or credit card debts are discharged.

Chapter 13 benefit:

  • Stop car repossession
  • Stop foreclosure
  • Time allowed for people to catch up on over-due payments for cars and home
  • Wipe out a portion or all of medical bills and/or credit card debt
  • Consolidates bills into a payment plan

Bankruptcy needs to be viewed as a beneficial option for those who are underemployed or unemployed. Contact Boudreaux Law Firm to learn how you can relieve your financial strains through Chapter 7 or Chapter 13 bankruptcy.

Posted on behalf of Boudreaux Law Firm

Boudreaux Law Firm

493 Furys Ferry Rd

Augusta GA 30907


The Augusta, Eastern Georgia law firm of Boudreaux Law Firm, serves Eastern GA and the CSRA, including the cities of Augusta, Evans, Martinez, Blythe, Hephzibah, Grovetown, Harlem, Waynesboro, Appling, Thomson, Louisville, Lincolnton, Aiken, North Augusta, and Peach Island, as well as Columbia County, Richmond County, Burke County, Jefferson County, McDuffie County, Lincoln County, Aiken County, and Edgefield County

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