Who Uses Kansas City Bankruptcy Lawyers Most?

A lot of people have misconceptions about the reasons people need to file for bankruptcy, and who files the most. This type of thinking can keep people from reaching out for the help they need. 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. 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.

Men and women file for bankruptcy at a near even ratio, with the numbers being 48 men to 52 women respectively. In the past few years, there has also been a rise in married couples needing to file for bankruptcy. More than 64 percent of filers in 2010 were married, while 17 percent were single, 15 percent divorced, and 3 percent widowed. Marriage often increases debt and financial burdens. While it may make you more responsible, it can also increase the amount of stress you take on. Even with the best planning, it's impossible to know how every situation will turn out.

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. This is followed by 29 percent with some college education, 20 percent with 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. No one is completely immune from a bankruptcy, regardless of how educated you are.

Income was shown to influence bankruptcy filings. 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. 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.