March 28, 2009
Bankruptcy Filer Profiles
For a country that saw approximately two million of its citizens file for bankruptcy in only one calendar year, Arizona lawyers are trained to be able to recognize and identify trends that could signify a future bankruptcy filing.
By studying the profiles of past bankruptcy filers, bankruptcy lawyers from Arizona can make educated predictions on the types of people who will file in the future. This can help Arizona bankruptcy lawyers when it comes to being able to advise their clients.
According to recent studies of demographic information of United States bankruptcy filers, the average age of filers is around 38 years old. Almost half of all filers file jointly as a couple while 30% of women file alone and 26% of men file for bankruptcy alone.
As evidence of a sign of the times, two thirds of bankruptcy filers reported that they lost their job. Half of the filers have suffered some sort of serious health problems. If you are a bankruptcy filer and have not been affected by a serious health condition then chances are that you have been plagued by some other monstrous epidemic. For example, research reveals that more than 90% of filers have suffered either a job loss, major medical event, or a marital divorce. That is pretty solid evidence that bankruptcy is being utilized by people who have been severely impacted by circumstances that are out of their control. That was actually the intention of policy makers when they passed the Bankruptcy Abuse Prevention and Consumer Protection Act.
Bankruptcy is not a phenomenon that affects only poverty stricken, undereducated, working class individuals. Studies also show that bankruptcy filers are slightly more educated that the rest of the American population. With the amount of bankruptcy filers last year alone, 1,416,902, it is clear that bankruptcy, as a national epidemic, is not discriminatory in any way.
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