June 19, 2024

Bankruptcy Lawyers And You

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In life, many unexpected things happen that can turn your entire world on its ear. Emergencies, injuries, divorce, auto accidents; in life, sometimes things happen that you never thought possible. When that happens, you might think you’re alone in trying to solve your problems and put your life back together, but sometimes you’re not enough, sometimes, you need professional help. Sometimes, you need a lawyer.

For many, the idea of hiring a lawyer, whether they be an accident claims lawyer, an auto accident lawyer, a bankruptcy attorney, a divorce lawyer, or anything in between, is scary and expensive, but not hiring a lawyer can prove to be more costly than not, at times.

Bankruptcy lawyers, for example, tend to be more worth the investment than some people usually think. Approximately 75% of all Americans live paycheck to paycheck, leaving them with little to no savings just in case; indeed, less than one out of every four in the United States have enough in savings to cover a minimum of six months in the event of an emergency, with 27% of Americans without a savings account at all.

In unpredictable times, lawyers for bankruptcy can help people in ways that they can’t help themselves. And the numbers don’t lie, with the help of an attorney, the success rate for bankruptcy claims for chapter 7 is over 95%, while the success rate for chapter 13 is 55%.

Work for lawyers for bankruptcy aren’t likely to be strapped for work any time soon, as, according to US bankruptcy statistics, an upwards of 1.5 million people will file bankruptcy in an average year, with 1% being due to student loans and 62% due to medical expenses; only 3% of bankruptcies filed in 2014 were from businesses. In general, California, Florida, Illinois, Georgia, and Ohio were the top five states with the most bankruptcy fillings in 2014; lawyers for bankruptcy in those five states aren’t likely to be hurting for work.

People filling bankruptcy are likely going through a difficult time, both financially and emotionally and mentally; hopefully the lawyers they work with on their journey can help to put them at ease.

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