By MA Bankruptcy Attorney, Kara O’Donnell
O’Donnell Law Offices (857) 526-1355
Last week, the Senate rejected a jobless aid bill, despite President Obama’s push for more spending to bolster the economy.
Emergency jobless benefits, which provide up to 99 weeks of income support, expired June 2. Since then, more than 1.2 million people have had their checks cut off, according to estimates by the Labor Department. That number is expected to rise to more than 2 million people.
White House press secretary Robert Gibbs said the president would not give up on the measure. “The President will continue to press Congress to pass this bill and bring this relief that’s critical to our economic recovery,” Gibbs said in a statement.
Advocates for the unemployed vowed to continue fighting for an extension, saying it makes no sense to abandon people when the unemployment rate is 9.7 percent — far higher than the cutoff points for emergency unemployment benefits after previous recessions.
“We’ve never come close to doing anything like this in the postwar period,” said Andrew Stettner, deputy director of the National Employment Law Project. “This is going to cut . . . consumer spending. If they want to cut short the recovery, this is the best way to do it.”
“I frankly hope when Republicans go home . . . will scratch their heads and say: ‘What were you thinking?’ ” said Sen. Sheldon Whitehouse (D-R.I.), where the jobless rate stands at 12.3 percent, one of the highest in the nation. If Congress fails to extend emergency benefits, Whitehouse said, “It would be pretty bad.”
If you are a person who sees no way out of your credit card problems, a Chapter 7 bankruptcy might be right for you. Call Massachusetts Bankruptcy Attorney Kara O’Donnell for a free consultation at (857)526-1355.
Kara O’Donnell, Esq.
O’DONNELL LAW OFFICES (857)526-1355
Posted by Kara O’Donnell
By Bankruptcy Attorney Kara O’Donnell
A “Chapter 20” bankruptcy occurs when a Chapter 7 bankruptcy is filed to discharge unsecured debts then a Chapter 13 bankruptcy is filed. This is often done to allow the debtor to catch up on mortgage payments.
If you file a Chapter 7 and get a discharge, three years must pass before a Chapter 13 filing. Whereas if you filed for 13 previously, you must wait 2 years before filing another 13 petition.
However, if you are in the process of a Chapter 7 bankruptcy, you may CONVERT your 7 to a Chapter 13. However, the Supreme Court has held that the right to convert is NOT absolute and may be denied for bad faith. (Marrama v. Citizens Bank of MA)