Who Do Kansas City Bankruptcy Lawyers Help The Most?

A lot of people have misconceptions about the reasons people need to file for bankruptcy, and who files the most. Avoiding a bankruptcy because you don't want to be stereotyped can have dire consequences. Avoiding a consultation with a reputable Kansas City bankruptcy lawyer serves you in no way. You spend months and sometimes years dealing with immense stress and pressure, while never being able to conquer the debt that holds you back. If you look at the actual statistics, there are people from every walk of life who utilize bankruptcy services at some point or another.

Everyone deserves a second chance. Your future can be different regardless of what landed you in the financial spot you are currently. Older, married couples are not immune to bankruptcy, and today there are growing numbers of them filing. Financial planning and foresight is so vital for families. But it doesn't always protect you from each and every circumstance in life. While irresponsibility with finances may be one aspect for some filers, there are many more who were taken completely by surprise later on in their lives.

Bankruptcy rates are nearly evenly distributed between men and women. More married couples have filed for bankruptcy than in previous times. Married couples were the most likely to file, with 64 percent of filings in 2010 being listed as married, 17 percent single, 15 percent divorced, and 3 percent widowed. Although married couples are typically more fiscally responsible, they also usually have greater financial demands and commitments. Even with the best planning, it's impossible to know how every situation will turn out.

Education does play a role in bankruptcy rates, although there are people from all types of education backgrounds who end up filing. Of those who filed in 2010, 36 percent had a high school education. This is followed by 29 percent with some college education, 20 percent with a bachelors degree or higher. In four years, those with higher educations who filed has spiked tremendously. The numbers have risen by 16 percent. Nothing is set in stone. Whatever educational background you come from, bankruptcy may be a necessity at some point.

Making less money can put you at greater risk for a bankruptcy. Income showed significant correlations to bankruptcy statistics. The vast majority, 60 percent, of those who file for bankruptcy make less than $30,000 a year. There was a four percent rise in the number of people who made over $60,000 and filed for bankruptcy. While making more money can help you pay off debts and avoid being overwhelmed by surprise expenses, it can not protect against everything. There's no reason to feel ashamed or put off talking with a bankruptcy lawyer in Kansas City. Regardless of who you are, how much you make, or how prepared you tried to be, help is there when you need it most. Don't hesitate.

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