Women & Bankruptcy

Alarming Statistics:

• Since 1981, the number of women filing petitions for bankruptcy has increased 662%.
• More women filed for bankruptcy in 2003 than graduated from college.
• Women comprise a horrifying 87% of the impoverished elderly.
• According to recent statistics, 30% of all bankruptcies filed are filed by single women.

Bankruptcy For Women

As you can tell by the above statistics, bankruptcy among women has increased exponentially. There are many nuances to the new bankruptcy laws that dramatically effect women including:

• Your eligibility to file,
• Your ability to eliminate settlement obligations,
• Preserving child and spousal support,
• School expenses for your children

While credit card debt, medical bills and other forms of dischargeable debt effect both sexes, social conditions can put more of a burden onto women who are facing overwhelming amounts of debt. The higher number of bankruptcy protecting filings for women reflects a set of social barriers that women have to face more often than men.

These barriers include:

• Lower earnings - Today, young women aged 20-24 earn nearly 94% of men’s salaries compared to women aged 45-54 who earn 75% of what men do.
• Divorce - no spousal support
• Single mothers with the sole responsibility of raising children- often leaving mothers without child support or the ability to collect it.

According to the Coalition for Consumer Bankruptcy Debtor Education, by 2010, 1 in 6 single mothers are expected to file for bankruptcy in the United States.

At American Debt Relief, we recognize how these burdens affect women and society at large and are here to help all of our clients through the difficult process of bankruptcy. Many of our female clients are also involved in joint bankruptcies with their spouse. Whatever the case, our firm will provide the compassionate, honest care and service that you need for your situation. By hiring an experienced bankruptcy lawyer for your case, you can get an advocate for your economic security through bankruptcy protection. Our firm can help you qualify for bankruptcy and will present you with the best options for your individual situation. We will also educate you on the specifics of your case and keep you involved in the entire process.

Get the Help That You Deserve to Get Out of Debt!

At American Debt Relief, we believe that no one should have to deal with the burden of debt by themselves. Our firm is here to provide the legal assistance and the individual attention that will help you with your financial future. Contact Attorney Leonard J. Ackerman today for a Free Consultation!