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Living Paycheck to Paycheck

James Doan - Wednesday, September 19, 2012
A survey by the America Payroll Association released today (http://news.yahoo.com/more-two-thirds-u-live-paycheck-paycheck-survey-202040328--business.html) shows that more than two thirds of Americans are living paycheck to paycheck.  A whopping 68% of Americans cannot save any money because their expenses meet or exceed their pay.  What then happens when an emergency arises, be it medical, car, home, repairs, etc?  Many of you reading know the answer, the unwelcome expenses have to be charged with the hope of paying it off later.  The problem of course is, that later never comes.  Often one credit card, let's say "Peter" is used to pay another called "Paul."   Here the web of debt is laid, which quickly ensnares a family.

It is not uncommon to have more than one emergency expense, and because a household living paycheck to paycheck cannot save, this can be the straw that breaks the camel's back.  Credit cards may be maxed out.  It is then that one accrues late fees, falls behind on mortgage and car payments, and the snowball quickly becomes overwhelming.  Before you know it, you can be trying to stop foreclosure, car repossession, and harassing phone calls.  Adding insult to injury, a judgement, lien or tax delinquency may lead to the need to stop wage garnishment, simply to purchase food for the family.  Is it any wonder so many Americans suffer from anxiety and depression?

If you are one of the 68% of Americans living paycheck to paycheck, find a way to cut expenses.  If you are spending a good chunk of your paycheck attempting to pay down credit card debt, you might want to address the situation before an emergency expense arises.  Whether you are struggling to manage debt, (even if you still have a good credit rating) or you are struggling to save your home, Doan Law Group can help.

Contact Doan Law Group at 888-363-6529 and learn how to get out of debt.  Sometimes, getting out of debt can be as simple as filing chapter 7 bankruptcy, thereby eliminating 100% of your dischargeable debt.  

Chapter 13 bankruptcy allows wage earners to repay a portion of the their debt over three to five years. Some Chapter 13 debtors are able to strip their second lien, or eliminate it entirely, if the value of the home is less than the amount owed on the first trust deed.

If you woke up and smelled the coffee, and realized that your upside down house has turned into an anchor around your ankle as you struggle to keep your head above the choppy stormy waters of the sea of this economic uncertainty, then maybe you ought to consider unloading your house with a short sale.  Attorney Steve Doan is also a real estate broker who runs Doan Real Estate, and with integrity and ingenuity, Steve Doan has been able to work magic where other less experienced real estate people have failed.

The five Doan brothers, and their dad, have been helping those in financial need for nearly 20 years.

Contact Doan Law Group today to see if you are qualified for bankruptcy.  888-DOAN-LAW | 888-362-6529.  And remember, don't vote for Obama, or your financial situation will likely be much worse than it is today. 
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