The truth is that most people think they know who is most likely to file for a bankruptcy. 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.
There isn’t just one type of person who files for bankruptcy. People with a variety of educational backgrounds, salaries, and financial circumstances need this kind of help. Mistakes can indeed limit our options in life. But a lot of the time, people limit themselves as well.
The reason for your bankruptcy should not influence whether or not you seek out professional help. Whether you put too much on credit cards or went through a recent divorce, you can still find the help you need to live out a bright future.
In the past, older married couples were less likely to file for a bankruptcy. Those numbers have changed. Financial planning and foresight is so vital for families. But it doesn’t always protect you from each and every circumstance in life. Being irresponsible with money can certainly affect your chances of needing a bankruptcy at some point or another.
But it is not the only factor. 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. Married couples were the most likely to file, with 64% of filings in 2010 being listed as married, 17% single, 15% divorced, and 3% 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. The truth is you never know what the future can bring.
Getting a good education doesn’t totally prevent you from falling into a financial crisis later on. There are people from representing every educational background. 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. The largest growth in filings was seen in those with higher education, who saw a growth of 16 percent in just four years.
The moral of the story is that those from all backgrounds and walks of life find themselves in need of help from time to time. 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.
Income doesn’t tell it all, however. Those who earned more than $60,000 a year and filed for bankruptcy grew by four percent. More money is a big help in keeping up with living expenses. But it can’t help with every financial need, especially unexpected ones.
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.