Bankruptcy

Unemployment Benefit Extension Passed, Payments Could Take Several Weeks

By Chris Kramer

Congress passed a six-month extension of emergency unemployment benefits, restoring a lifeline to nearly 3 million out of work Americans whose benefits have run out since June 2.

However, a processing delay could see many Americans waiting "several weeks" for their unemployment checks to arrive, according to the Washington Post.

The bill was passed by a vote of 272 to 152 in the House on Thursday, after being approved by the Senate on Wednesday following weeks of contentious debate. President Obama is expected to sign the extension immediately.

The expected delay in payments may be difficult for those whose benefits ran out as much as seven weeks ago.

With the official unemployment rate at 9.5%, and even more working significantly reduced hours, many Americans are turning to bankruptcy to help them eliminate high-interest credit cards and personal loans--often necessary to help maintain household finances. Nearly 800,000 bankruptcy cases were filed in the first half of 2010, and even more are expected in the second half.

If you are out of work and struggling with debt, consider your options by talking to a bankruptcy attorney. Click here to connect with an attorney in your area for a free, no-obligation case evaluation.

Full post as published by The Bankruptcy Blog on July 22, 2010 (boomark / email).