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Archive for the ‘bankruptcy and jobs’ tag

Issues in State and Federal Minimum Wage Laws

August 22nd, 2014 at 4:41 pm

federal minimum wageThe minimum wage was a concept put in place to protect workers from the past tyranny of their employers. Larger companies can hold a lot of sway over the heads of individuals depending on a paycheck to put food on their tables and provide themselves and their families with the basic living necessities. This system also prevents businesses and business owners from auctioning off jobs, until men and women are forced to work for cents on the hour.

The problem with Texas minimum wage is exactly what it describes–the smallest amount an employer can legally pay his or her employees. Over the last few years in particular, many people are beginning to ask themselves and their legislatures whether the minimum wage laws are progressive enough to have evolved with society.

The current minimum wage in the State of Texas is only $7.25 per hour, the federally mandated minimum wage. While many other states have their own minimum wage laws that increase this rate, Texas is not one of them. The following statistics about the cost of living in Texas can be startling compared with its already low minimum wage:

  • The average cost of a one bedroom apartment in Houston is $1,144 per month;
  • A gallon of gas is priced at a little over $3.60 each;
  • One ride on public transit costs $1.25;
  • A regular gallon of milk is priced at $3.28;

Basing this on an average 40 hour work week, if you were getting paid minimum wage, then you would be making $1,160 before taxes are taken out, meaning that this income is not even enough to pay the rent of a one bedroom apartment in Houston. To make matters even worse, there are exemptions on certain employees that do not even have to be paid the $7.25 an hour:

  • Certain agricultural workers are not covered under the law;
  • Populations of mentally handicapped individuals can be exempt;
  • Employers may factor in the cost of meals and/or lodging into the compensation they offer.

The economy in Texas, though improving slightly, has still left many in dire financial constraints. The minimum wage law is lacking in some aspects, leaving bankruptcy the only options for many residents of the state. If this is you, contact a New Braunfels bankruptcy attorney today for experienced legal assistance with all of your bankruptcy needs.

Will Bankruptcy Destroy My Future Job Prospects?

May 5th, 2014 at 8:37 am

bankruptcy and employers, bankruptcy and jobs, employee credit check, future job opportunities, future job prospects, poor credit history, resort to bankruptcy, Texas bankruptcy filing, Texas bankruptcy lawyerMore than one million people every year resort to bankruptcy to get relief from overwhelming debt. And yet there is a stigma out there that you will be unable to find a good job with bankruptcy filing in your past. However, this is not true. Bankruptcy’s impact on your future job prospects has been over exaggerated.

An employer has a right to run a credit check on applicants to see whether potential employers are stable. The reality is, not every job you apply for is going to run a credit check. If you are applying for a job with access to company finances or access to other people’s private data (like Social Security numbers), you should expect a credit check. But this does not mean that every employer vets prospects in this way.

Bankruptcy can stay on your credit report for up to 10 years (Chapter 7) or seven years (Chapter 13). If you are applying for new jobs during this time period, then yes, an employer could find out about your bankruptcy. An employer, however, may also see how you have managed to rebuild your credit and move on from that incident during that time period.

If you are buried in debt and are worried about your future job prospects, bear in mind that poor credit also shows up on your credit check run by an employer. You do not want a poor credit history that you have been unable to fix on your reports, either. Taking the bull by the horns and setting up a consultation with a bankruptcy attorney may be in your best interest so that you can begin rebuilding your life. After several years post-bankruptcy with on-time payments and other positive credit indicators, you may see improvements in your credit score.

Do not get trapped by a financial burden that you cannot pay off. Contact a Texas bankruptcy attorney today to learn about your options.

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