Soldiers Struggle to Find Work at Home as War Winds Down, But Find Solutions in Bankruptcy

As active duty service members come home from wars winding down abroad in Iraq and Afghanistan, they are welcomed to friends, family and staggering unemployment. Now, tens of thousands of veterans are flooding the job market at a time when millions of civilians can't even head back to work.

According to a new report from Reuters, unemployment among recent veterans grew to 13.3 percent in June, more than 4 percentage points higher than the national average. “From 2008 to 2010, that rate rose from 7.3 percent to 11.5 percent, and it's expected to climb further as more troops come home this year -- 10,000 from Afghanistan and, unless Iraq requests some to stay, the remaining 46,000 from that country. ‘There is a sense of abandonment,’ said Daniel Nichols, former chief of staff for the Labor Department's Veteran Employment and Training Services (VETS).”

In a job market where work is definitely M.I.A., recent vet argue they're passed over for jobs not because they are under-qualified for positions, but because they lack domestic work history, certain credentials, a formal education or a quantifiable way to bring their recent military skills to employers in a way they can understand.

“More than a dozen government programs aim to tackle veteran unemployment through job search courses, career centers, hiring fairs and grants for states and local agencies,” said Reuters. “But many former servicemen say what they really need is a waiver from the often lengthy training process required to get jobs for which they are already effectively qualified. The GI bill and some Pentagon programs will reimburse vets for training and certification exams, but the training itself can last weeks to several years…According to the Defense Department, 88 percent of military jobs have "direct civilian counterparts.'' But most states require veterans to retrain before they can take similar civilian positions. According to the National Registry of Emergency Medical Technicians, paramedic training takes about 18 months. Air traffic controllers must retrain for one to two months according to the Federal Aviation Administration.”

So what options are out there for service men and women who are facing unemployment or underemployments during the current economic malaise stateside?

With its stations, bases and camps, North Carolina is home to a storied U.S. military tradition as well as large military and veteran populations. As such, citizens of North Carolina are not only familiar with the honorable service of these military men and women, but are also aware of the many financial challenges facing these folks when they return from battle.

For all of the challenges that veteran’s status may mean in the current economic climate, there are also lesser-known perks of this type of public service that current and former military men and women can receive when filing for the fiscal safe havens of bankruptcy. So, if you are a bankruptcy bound service man or woman, here are a few things to consider when seeking some financial freedom through a bankruptcy filing.

While active duty military must take the means test when filing for personal bankruptcy relief under Chapter 7, they do have some economic respite under the Servicemembers Civil Relief Act (SCRA). In a logical attempt to alleviate some of the financial difficulties their absence on active duty may cause, SCRA acts to protect active service men and women from certain default judgments and evictions. This legislation also excuses active duty personnel serving in a combat zone from completing pre-bankruptcy credit counseling and can even reduce interest rates on debt.

Are you a servicemember who is considering the many safe havens of debt dissolution that a personal bankruptcy filing can provide? Or are you an average American reading about the benefits of bankruptcy and want to learn how it can help you? If you are seeking the broad protections of bankruptcy, it’s best to consult with a qualified attorney before filing. A qualified bankruptcy attorney is important during the bankruptcy process to help you navigate any uncertain waters and work in your best interests throughout the duration of the case, regardless of your status. The bankruptcy attorneys at the Law Offices of John T. Orcutt in North Carolina offer a totally FREE debt consultation and now, more than ever, it’s time to take them up on their offer. Just call toll free to +1-833-627-0115, or you can make your own appointment online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.