More Than 280,000 Arizona Residents Have Exhausted Unemployment Benefits
Most people understand and agree that one of the foundational problems with the terrible Arizona economy is the unemployment rate. Arizona currently sits at 9.7 percent unemployment, and that number has held steady for many months. When people are unable to find work because they have lost their previous job and due to a dearth of new employment opportunities, many turn to unemployment benefits to help them with their monthly bottom lines. However, time is running out for many in the state in terms of collecting these benefits, and for others that time has already expired.
According to the state, more than 280,000 people have used all of the unemployment benefits for which they qualified. This includes more than 24,000 people in Arizona who qualified for the maximum time allowance, which is 99 weeks. The so-called '99'ers' have been joined by more than 250,000 others who did not qualify for 99 weeks of benefits who also find themselves with little or no income arriving with any regularity. For these hundreds of thousands of people, a stressful situation has become nothing short of desperate.
Little Hope for the Immediate Future
Not only do most economists predict a very slow overall recovery, but most see the unemployment rate remaining near its current levels for at least another year. In addition, the newly elected Congress is expected to take measures to limit and/or cut unemployment benefits available to those who are out of work, which means that prospects for many are extremely dim. Unless and until the jobs market in Arizona begins and continues to improve, these numbers are expected to rise.
Arizona Bankruptcy Lawyers
For those who find themselves without options for income, there is hope even as bills begin to mount, threatening letters begin to arrive and phone calls are being made by collectors. This financial freedom all starts with an intricate analysis of your overall financial picture so that a strategy can be formulated for a way out from under this mounting stress. This may involve filing for bankruptcy protection or it may not, but if you are ready to put your financial struggles behind you, the Phillips Law Group recommends the experienced bankruptcy attorneys atMontano Arentz & Associates, PLLC.Call today to schedule a free initial consultation!