Common Categories Of People Helped By Kansas City Bankruptcy Lawyers

The truth is that most people think they know who is most likely to file for a bankruptcy. Avoiding a bankruptcy because you don't want to be stereotyped can have dire consequences. For months or even years, they struggle under the weight of burdensome debt that could easily be dealt with by hiring a Kansas City bankruptcy lawyer. To the surprise of many, bankruptcy is a necessity for people from all walks of life, with a wide variety of financial situations and a story that led them to the point where they are currently.

Everyone deserves a second chance. Your future can be different regardless of what landed you in the financial spot you are currently. 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. 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. 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. The truth is you never know what the future can bring.

There are people represented by all levels of education in bankruptcy filings. The highest percentage of filers had a high school education level at 36 percent. While 29 percent listed that they had some college, 20 percent had earned a bachelors 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. Around 60 percent of all bankruptcy filings were given to people who made 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. 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. 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.

Does litigation catch your attention or a friend? If so then you should examine some similar information related to bankruptcy attorney Kansas City MO here.