Who Uses Kansas City Bankruptcy Lawyers Most?

If you asked most people, they probably have an idea of who it is that uses bankruptcy lawyers the most. 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. 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. If you look at the actual statistics, there are people from every walk of life who utilize bankruptcy services at some point or another.

Mistakes can indeed limit our options in life. But a lot of the time, people limit themselves as well. Whether you are in a bad financial situation because of overspending on a credit card or because of an unforeseen chronic illness, a bankruptcy can help you say goodbye to the past and move on into a brighter 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. Although there are people who file for bankruptcy due to irresponsible financial management, there are plenty of others who planned and saved and still wound up in a bad financial situation.

The numbers show that men and women file bankruptcy at nearly the same rate, 48 to 52 respectively. More married couples have filed for bankruptcy than in previous times. Married couples were the most likely to file, with 64 percent of filings in 2010 being listed as married, 17 percent single, 15 percent divorced, and 3 percent widowed. Being married may mean you make more money, but it also increases the likelihood of you owning a home, incurring debt, and having a higher cost of living annually. The truth is you never know what the future can bring.

Education does play a role in bankruptcy rates, although there are people from all types of education backgrounds who end up filing. Most of the people who filed in 2010 had a high school education. The statistics were 36 percent. While 29 percent listed that they had some college, 20 percent had earned a bachelors or higher. The number of those with higher education filing has risen by 16 percent in the past 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. Sixty percent of people who earn a salary of less than $30,000 a year filed for bankruptcy. Interestingly, the number of those who make over $60,000 annually and filed for bankruptcy grew by around 4 percent. While making more money can help you pay off debts and avoid being overwhelmed by surprise expenses, it can not protect against everything. 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.