No one ever thinks they will file for bankruptcy. Bankruptcy is what other people need to do. The only problem with that way to think is that more and more Americans are finding themselves in a position where they have to do just that.
Since 2006, the number of personal bankruptcy filings has exploded, it has gone up by 600%. At least 8% of people filing have filed before. People who make less than $30,000 per year make up 60% of personal bankruptcies. Since 1980 the percentage of bankruptcies filed by businesses has plummeted from 13% to 3%.
Many try to go without a bankruptcy attorney but it’s a mistake. The success rate for people filing for personal bankruptcy