If You Need A Fresh Start, Talk To A Bankruptcy Lawyer In St. Charles MO
There’s nothing fun about deciding if bankruptcy is the right solution. Anyone in this position probably feels isolated, but in actuality there are many others in a similar situation. In fact, there is probably someone else in the neighborhood who is also struggling, watching the bills pile up and letting the phone ring unanswered.
At one time, many had preconceptions about those who filed for bankruptcy. They assumed that it was someone who spent foolishly on luxuries, probably someone young. If that was ever true, it is no longer. The face of someone forced to file for bankruptcy belongs to the guy next door, the lady at the supermarket or the older man sitting in the last row at church.
The typical bankruptcy petitioner is married and middle-aged. In fact, the median age of those filing for bankruptcy is now 45, up from 38. Young people, under 25, account for less than 2% of filers. Seniors, who seldom declared bankruptcy at one time, are now accounting for 20% of bankruptcy filings. It’s a sad commentary on today’s economy that those on fixed incomes have been pushed so hard. Many of today’s petitioners have a high school diploma; many have attended college but did not graduate. The average income is $30,000 a year or less. Over 60% of those seeking protection from creditors are employed.
Too much credit card debt is still the most commonly-listed reason for bankruptcy, but at least some part of that debt was accrued paying monthly expenses or an unexpected bill. The other two most common reasons are unexpected expenses and reduced income. Job loss and medical expenses also rank high in the list. In many cases, it was a combination of reasons that made the bankruptcy decision almost inevitable.
The Law Offices of Steven K. Brown St. Charles MO have been providing counsel and assistance to those needing bankruptcy protection for over 30 years. This Bankruptcy Lawyer St. Charles MO has the experience and knowledge to answer all of the questions that someone might have. The practice also focuses on Workers’ Compensation and Personal Injury cases. Those who live in St. Charles and feel crushed by debt should talk to this Bankruptcy Lawyer St. Charles MO and learn how they can get a fresh start.
