CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Filing for Bankruptcy as a Single Parent

Single parents face all of the challenges of couple parenting together, but they have the added struggle of doing it on their own. And unfortunately, far too often, these challenges are financial. Financial difficulties are one of the most common issued faced by single parents. Single parents must manage all of the usual expenses of a household – mortgages, car payments, credit card debt, expenses related to raising their children – but do so on their own.

Even if you’re receiving child or spousal support, you’re still budgeting without the assistance of another person. Like many of the major decisions you’ll face in life as a single parent, you’re on your own when it comes to financial issues.

Making matters worse, financial struggles have a tendency to be more intense when you’re single. Some studies show single mothers are at last twice as likely to file for bankruptcy compared to single women without children. Not to mention the loss of a job when you’re a single parent can mean the loss of health insurance for your entire family without the safety net of a spouse. Considering how many bankruptcies are caused by medical debt, it’s easy to understand why the risk is so high when you’re a single parent.

How Do I Know Bankruptcy is My Best Option?

As a parent, you’re always looking for ways to make your child’s life better. That can be a tall order when parenting alone, especially if you’re facing financial struggles.

The best thing you can do if you feel you are drowning in debt and you’re worried it will affect your child’s quality of life is to take action. Ignoring the problem will result it in it worsening and sooner or later, it’s going to take a toll on your child and your relationship with him or her.

Bankruptcy is one of the best tools you have, as a single parent, for dealing with financial issues. It can help you “reset” your financial situation and get a fresh start. It will also help you get the daily stress of debt under control and ensure that your financial future is brighter than your current situation.

If you’re wondering if bankruptcy might be right for you, but you aren’t sure whether to go ahead and file, consider the following:

  • Chapter 7 bankruptcy allows you to eliminate your unsecured debt
  • Chapter 13 bankruptcy can make it possible to remain in your home and protect many of your assets, including your retirement savings.
  • Bankruptcy no longer carries with it the stigma it once did – today, many people are using bankruptcy as a tool to deal with difficult financial times
  • Bankruptcy will result in an automatic stay which stops all debt collection efforts against you

To learn more about how the automatic stay works, Cornell Law School explains it here.

Single Parents Can Use Bankruptcy for a Fresh Financial Start

There is no reason why you should try to handle your financial challenges on your own. You’re a single parent, but that doesn’t mean there isn’t any support available. Working with an experienced bankruptcy attorney can help you determine if bankruptcy is a viable option and will make filing easier if you decide it’s the right option for you.

To learn more or to schedule a consultation to discuss how bankruptcy can help a single parent struggling with financial challenges, contact the Law Offices of Robert M. Geller at 813.254.5696 to schedule a consultation.

Archive

Tampa Bankruptcy Law Blog

I’m Unemployed. Can I Still File for Bankruptcy?

Unemployed Bankruptcy Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because of...
Read More

How Will Filing for Bankruptcy Affect My Credit?

Will Bankruptcy Affect My Credit? Not paying your bills affects your credit negatively. And yet problems with credit are one...
Read More

Behind or In Default on Your Student Loan? Here’s What You Should Know

Student Loan Default If you’ve fallen behind on student loan payments or your student loans are in default, you aren’t...
Read More

Will Bankrutcy Affect My Job? Learn How Filing Affects You in the Workplace

Will Bankruptcy Affect My Job? Filing for bankruptcy raises many considerations. One of the most important is whether or not...
Read More

Can Bankruptcy Help Me If I’m Behind on Child Support?

Bankruptcy and Child Support Bankruptcy can help you with a lot of things. It can help you stop calls from...
Read More

Can You File for Bankruptcy When You’re Unemployed?

Bankruptcy and Unemployment Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because...
Read More

Bankruptcy and Eviction History

Eviction With the rate of evictions on the rise in recent months and the expectations that eviction numbers will grow,...
Read More

What to Expect Once You’ve Decided to File Bankruptcy from Home

File Bankruptcy from Home There are a few things that happen when you file bankruptcy from home. An automatic stay...
Read More

Will Filing for Bankruptcy Affect My Job Search? What You Need to Know about Unemployment and Bankruptcy

Unemployment and Bankruptcy Searching for a job when you are faced with a dire financial situation is difficult. If you’ve...
Read More

Will I Need to Go to Court If I File for Bankruptcy?

File for Bankruptcy from Home One of the most intimidating aspects of filing for bankruptcy is meeting in person with...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo comodo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions