Common Categories Of People Helped By Kansas City Bankruptcy Lawyers

All of us have stereotypes. Deciding who is most likely to need a bankruptcy is no different. Avoiding a bankruptcy because you don't want to be stereotyped can have dire consequences. The only thing that avoiding help from a Kansas City bankruptcy lawyer does is to keep you from moving on past your life of debt and into a better life. Filing for bankruptcy is a necessity for a wide range of reasons, and is used by people with a variety of different incomes, genders, and marital statuses.

Everybody makes mistakes. You may have gone through a divorce, had unexpected medical bills come up, or spent too much on credit cards, but you owe it to yourself to fight for a better future. In the past, older married couples were less likely to file for a bankruptcy. Those numbers have changed. The truth is that a lot of people wind up needing a bankruptcy even though they've taken steps to secure their future. 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. Your marital status doesn't protect you either. The number of married couples filing has grown in the past four years. In 2010, the breakdown for marital status showed that 64 percent of people who filed for bankruptcy were married, 17 percent were single, 15 percent divorced, and just 3 percent were widowed. Although married couples are typically more fiscally responsible, they also usually have greater financial demands and commitments. No matter how much you plan, the future is unpredictable.

Having a great education doesn't necessarily mean you won't hit financial struggles at some point. The highest percentage of filers had a high school education level at 36 percent. A full 29 percent had some college education, and 20 percent had a bachelors degree or higher. In four years, those with higher educations who filed has spiked tremendously. The numbers have risen by 16 percent. No matter how much education you have under your belt, a bankruptcy may still be something you need later on.

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. Having more money at your disposal is definitely helpful in keeping your head above water, but there are still financial crises you can not afford. No matter who you are, how much you make, or how educated you are, bankruptcy can become a need. Reach out and find a good Kansas City bankruptcy lawyer to help you get out of a tough time, and move on with your life.