Roughly one in five District residents was living in poverty last year as 46.2 million Americans lived below the poverty line, the Washington Post reported on September 13, 2011. The poverty rate was around 11 percent in Maryland and Virginia, according to data released by the Census Bureau that marked the fourth straight year poverty has increased and the highest level reached since 1993. At the same time, real median income fell to $49,445 in 2010, the lowest figure since 1997 and the largest single year decline in income since at least 1967, according to the Post.
The 22 percent poverty rate for children was also at its highest level since 1993, with the rate for black children increasing to almost 40 percent while more than a third of Hispanic children lived in poverty, according to the Post. The federal government set the poverty line in 2010 for a family of four with an income of no more than $22,314 or a single person with an income of no more than $11,139.
With unemployment projected to remain stagnant, the rising poverty and declining income is likely to continue. However, if you are still struggling through hard times, then now is probably the best time for you to speak with a knowledgeable Maryland bankruptcy attorney to end creditor harassment. Whether you have questions about a bankruptcy means test or want to avoid debt collector harassment, our Maryland bankruptcy law firm will address your concerns and walk you through a Chapter 13 or Chapter 7 bankruptcy process step by step. The Law Firm of Kevin D. Judd can be your resource for the Maryland bankruptcy information you need to eliminate or consolidate your debt.
Law Firm of Kevin D. Judd – Washington DC bankruptcy lawyer