On AJC.com, Henry Unger points out the problem many Georgia residents are facing, that of a spreading wave of unemployment. Why is the problem so big? In the Unger piece, the Labor Commissioner Michael Thurmond is quoted, noting: “Our state’s job market remains weak and employers have not resumed hiring at a pace necessary for recovery.” Thurmond went on to say employers are still hesitant to take on new employees.

Jobs are a major problem in Georgia. Loss of jobs are causing foreclosures. Many are having no option but to file bankruptcy or let their home be taken. 1 of every 250 homes is being lost due to foreclosure. The unemployment is obviously related, as many of us cannot afford a mortgage with an unemployment check.

Without jobs, the economy will be stuck. As of October, Georgia unemployment was still higher than the national average: 10% of workers are unemployed, in comparison to 9.6% nationally. Moreover, it has been this way for much of the past year. In real numbers, almost half a million Georgia residents are without work. And much of these have been out of work the past 27 weeks (Unger points out how over 250,000 Georgia residents have been unemployed for 27 weeks or longer).

What can be done to give life to the economy? Economists are looking at an almost 10 year plan until unemployment can potentially be cut by 5%. It’s projected that by 2018 we may be back down to the historical averages of 5-6% unemployment.

What is causing these problems? Companies are not expanding. Jobs are not being created at the level of demand. Everyone is pinching pennies and this is hurting businesses, which in turn affects us all. It’s a cycle.

There is room to be positive. You still have options even if unemployed. There may be new life in the economy yet. There are still people getting jobs. It may give you time to return to school, specializing in a more in demand field. There is no secret path to be noted, but there is always hope.

If you are unemployed, or employed at a low-paying job, you may wonder about your options if you get a high bill. With many Georgia residents and citizens nationally being out of work, you may lack health insurance. If your job hours get cut in half, you may wonder how you can live in your home.

There are options, and not always bankruptcy. If you want, you can always try and negotiate with creditors before any problems arise. They might, for example, want to garnish your wages, which would obviously put you in some dangerous waters. Creditors want their money. If you file Chapter 7 bankruptcy, they get little of the debt you owe them. Therefore, some are willing to cut interest rates and set up a payment plan.

On the other hand, bankruptcy may be your best option, especially if you are unemployed. A Chapter 7 bankruptcy can discharge that high medical bill you got because of no insurance. Or the months where you had to lean on your credit cards – and accumulated a $20,000 bill – need not be a time where your income is taken. If you own a home, you do have legal rights, especially if you file bankruptcy correctly.

The question may not be about being unemployed. It comes down to staying on top of bills. If you can discharge a debt at the right time, it can change your economic future. Then, when you get a job, you can avoid spending all your wages on interest rates.