All over the country, but especially in California, people who used to enjoy a middle-class lifestyle are now complaining that their six-figure household income leaves them living paycheck to paycheck. They used to be able to transfer a percentage of every paycheck into savings and to afford leisure travel and restaurant meals. Now, they anxiously calculate every grocery and gas station purchase in the last third of the month. Salaried employees who get paid every month don’t know how good they have it, though. They know when their next paycheck is coming, and they know how much money their employer will deposit.

The people who get paid on a biweekly basis are in an even worse position, and they have been, even since the old days, when the monthly salary folks were posting vacation selfies online. If you get paid biweekly, your paycheck is probably based on the number of hours you worked during the two-week pay period, and any paycheck only gives you enough money to cover some of that month’s bills. The good news is that, every year, there is at least one month when employees with a biweekly pay schedule get three paychecks. For help using your third paycheck of the month for maximum debt relief, contact an Oakland chapter 7 bankruptcy lawyer.

One Measly Paycheck Can Be a Giant Leap Toward Debt Relief

Biweekly payment schedules usually issue paychecks on the same day each week; for example, an employee might get paid every other Friday. Occasionally, you find a month with three Fridays, and when that happens, you get three paychecks.

What do you do with that extra paycheck? The urge to splurge is only human. No one can blame you if you make a beeline for In-N-Out Burger and eat your fill while you decide what to do with the rest of the money. Remember that many months will go by before the next time you get three paychecks in a month.

If you have managed to keep up with all your debt payments, you can afford a California debt snowball. In other words, you can put the extra money toward one of your debts, so that you can make a dent in the balance, causing you to accrue less interest going forward. If you are already in a tailspin of debt, where you have already missed payments on installment loans and other bills, then it is better to use the extra money to settle your debts or file for Chapter 7 bankruptcy. Chapter 7 bankruptcy filings enable you to discharge your eligible debts quickly, for approximately the cost of a biweekly paycheck. Most applicants for Chapter 7 bankruptcy can complete the process without the bankruptcy court liquidating any of their assets.

Contact the Law Office of Melanie Tavare About Discharging Your Debts With One Extra Paycheck

A debt relief lawyer can help you make one additional paycheck, modest though it might be, go a long way toward bringing you debt relief. Contact the Law Office of Melanie Tavare in Oakland, California, or call (510)255-4646 for a case evaluation.