California Unemployment And Bankruptcy
A San Diego bankruptcy lawyer comments on California Unemployment and Bankruptcy
California unemployment and bankruptcy are as synonymous as California divorce and bankruptcy. That is, they often go hand in hand. When thinking about California unemployment and bankruptcy, the first thought one must have is that if someone is unemployed, their income is naturally depleted such that a bankruptcy seems likely – or, at least, that the unemployed person is heading down a road toward bankruptcy if they cannot find a job. The reason for this is that most people develop a lifestyle based upon the income they are making at that time. Few people (if any, actually) forecast unemployment and design their expenses around how much they might receive from unemployment if they happened to lose their jobs. Thus, California unemployment and bankruptcy is a natural thing. Indeed, bankruptcy numbers are up dramatically in the United States as a whole; therefore, California unemployment and bankruptcy tend to follow right along, merely as a consequence of the economic troubles of the times. For those receiving unemployment and thinking about bankruptcy, it is important to recognize that your unemployment income will be considered income for the purposes of the Means Test. This might matter if you are married (as your spouse’s income will be included) and/or if you supplement your unemployment checks with odd jobs and whatnot. If you are out of work and do not envision a swift return to the rolls of the employed, a bankruptcy is worth considering. California unemployment and bankruptcy often go hand in hand.
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