It's Hard To Classify Who Needs A Kansas City Bankruptcy Lawyer

All of us have stereotypes. Deciding who is most likely to need a bankruptcy is no different. Unfortunately, a lot of people put off looking into help because they are afraid they will be categorized and stigmatized. Put your stereotypes out of your mind and consider the facts. 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.

Mistakes can indeed limit our options in life. But a lot of the time, people limit themselves as well. 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. More and more people who are filing for bankruptcy are older, more responsible and married. 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.

The numbers show that men and women file bankruptcy at nearly the same rate, 48 to 52 respectively. While in the past being married may have helped keep you from filing, that number has gone up in the past several years. Over 64 percent of those who filed for bankruptcy in 2010 were married, including some who filed jointly. Just 17 percent were single, 15 percent were listed as divorced, and 3 percent were widowed. That is a surprising fact to a lot of people who imagine that married couples have double the income and a more responsible outlook on life. 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. 36 percent of people who filed in 2010 had a high school education. There were 29 percent who had attended some college. Those with a bachelor's or higher came out at 20 percent. The largest growth in filings was seen in those with higher education, who saw a growth of 16 percent in just four years. No matter how much education you have under your belt, a bankruptcy may still be something you need later on.

Income was shown to influence bankruptcy filings. Around 60 percent of all bankruptcy filings were given to people who made 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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