San Jose Bankruptcy Attorney explains how better financial education for couples could reduce the instances of divorce and bankruptcy.
A recent article published in Australia raised the question of whether better financial education could reduce the instances of bankruptcy and divorce. It’s an interesting thought, since financial stress is one of the leading causes of divorce and separation. Ironically the financial stress that is there when two people, often with two incomes, are living together doesn’t go away when they are trying to maintain separate households and pay spousal support and child support.
Some of the issues that lead to the financial issues that can strain marriage include lack of budgeting, poor spending habits, overuse of credit cards, along with unemployment, declining home values and wide fluctuations in the stock market battering the net worth of families.
Good financial skills can help prepare for many of these situations. Learning to live within a budget, to not overuse credit and setting aside money in a rainy day fund for emergencies are all tools that can be learned wherever you are in a marriage. Even bankruptcy doesn’t have to be the death knell of a marriage. In many instances a Chapter 7 or Chapter 13 bankruptcy can give you the breathing room to get your feet underneath you as you reestablish your financial future. Your bankruptcy attorney can explain what can and cannot be discharged in bankruptcy, and how it may benefit you in your situation. The financial counseling classes that are now required for bankruptcy filers are a good place to start to get rid of any bad financial habits that may have developed. It’s never too late to break a bad habit and get yourself on the way to wealth instead of the road to debt.
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.