Bankruptcy Attorney | How Avoid Bankruptcy? Pt. 2
Bankruptcy Attorney | Single women alone comprise almost 40% of all bankruptcy filings.
Bankruptcy’s warning signs
Women often have lower incomes, and after divorce, often bear more costs of child-care than men.
● SINGLE MOTHERS. While divorce is not easy for men or women, women are more likely to be to care for children
● LACK OF STEADY INCOME. A lot of mothers with very young children, either do not work outside the home, work-
● NOT WORRYING ABOUT MONEY MATTERS. With children in the home, and other demand on their time, mothers
● TAKING ON TOO MUCH DEBT. Taking on more debt than you can reasonably handle is another major cause of and aging parents. These single mother still have most of the costs of the married couple, but they are forced to do it on one (usually lower) income. part time, or help their husband out in their own business. Therefore, the single mothers often are less employable or have diminished earning capacity because of these facts. Marian worked from home, helping out in her husband’s business. often push aside the financial management or allow their husband to do it. bankruptcy. Often times people with families spent money based upon their belief that the expenses are justified and
● FAILING TO ADJUST YOUR LIFESTYLE QUICKLY BASED UPON CHANGES IN INCOME. Many people end up
needed by the family. They will charge credit cards or take equity out of their home without having a reasonable plan
to repay those debts. filing Bankruptcy because they fail to adjust their expenses, such as their home or cars, based upon their change of financial condition.
Raising the child support payments will not greatly help. The increased costs of raising children has far outpaced the increase is child support awards. The reality is now two households must be supported on what used to support one household. Therefore, financial ruin, and filing bankruptcy is almost of a product of a terminating marriage. Any good parent is at much greater risk of having to file Bankruptcy because the parents are pushing themselves to their financial limits to buy their children the best. They want to buy houses in the best school districts, the newest games for the PS3, or Wii, and maybe even a car and insurance for their teenage children.
Our office can assist you in determining whether bankruptcy is the right choice for you, and which chapter under the Bankruptcy Code would provide you with the most relief. To schedule a free consultation with a knowledgeable Bakersfield bankruptcy attorney about filing a Chapter 7 bankruptcy in Kern County, please call our office today at 661-888-4335 .