As an Asheville NC bankruptcy attorney, most people I speak with do not realize what legal options they have concerning their debts, or that many of their friends and neighbors have already decided to file a bankruptcy case.More than 1 million people filed for bankruptcy protection in 2013.The statistics from my own practice may surprise you.
People are often surprised to discover their legal rights.
Who files for bankruptcy protection?
A large majority of my bankruptcy clients have jobs or are self-employed. A majority of my clients have more than $50,000 of annual household income. Almost all of my clients have graduated from high school, and a majority hold college degrees. Bankruptcy filers are about half male and half female, and the majority of filers are married.
What causes these type of hard working people to need bankruptcy protection?
Study after study has shown that over 90% of bankruptcy filings can be related to job loss, divorce, or medical problems.Hear what Senator Elizabeth Warren said on NPR last week about problems which lead to bankruptcy.This is my favorite quote from the interview: “You watch something happen in your own family, and you realize that people can be good people — work hard, play by all the rules — and still just get a smack in the head…Most people who file for bankruptcy were hard-working, play-by-the-rules, middle-class folks. But they had been hit hard by serious medical problems, by a long-term job loss or by a family breakup — either a divorce or a death in the family.”- Elizabeth Warren, NPR interview, April 18, 2014
If you can relate to some of the statistics cited above, and would like to figure out what your bankruptcy options are, I would be pleased to speak with you during a free, initial bankruptcy consultation.
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