' Filing for Bankruptcy as a Single Parent - Law Offices of Robert M. Geller
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

Video Testimonials

Tampa Bankruptcy Law Blog

When Does Bankruptcy’s Automatic Stay Go Into Effect?

Filing for bankruptcy can be a daunting experience, but it also provides vital protection for those in financial distress. One...
Read More

Should I Close My Bank Account Before Filing for Bankruptcy?

Filing for bankruptcy is a significant decision that requires careful planning. One common question people have during this process is...
Read More

Can Filing Bankruptcy Stop Repossession?

Facing repossession of your car or other valuable assets can be incredibly stressful. When you’re struggling to make ends meet,...
Read More

Are Bankruptcies Public Record?

When individuals or businesses find themselves in financial distress, they may consider bankruptcy as a way to manage or discharge...
Read More

How Can I Protect My Assets During Bankruptcy?

Filing for bankruptcy can be a challenging decision. Many people worry about losing their assets during the process. In Florida,...
Read More

Will My Landlord Know If I Filed for Bankruptcy?

Filing for bankruptcy can be a daunting decision. If you’re a tenant, you may worry about how this decision affects...
Read More

Should I File Bankruptcy without a Lawyer?

Filing for bankruptcy can be a daunting process. Many people wonder if they should tackle it alone or hire a...
Read More

How Does Bankruptcy Affect My Credit Score?

Filing for bankruptcy is a significant decision. It can have a lasting impact on your financial future, especially your credit...
Read More

Can You File Bankruptcy on a Title Loan?

If you're struggling with debt and have a title loan, you may wonder if bankruptcy can help you escape that...
Read More

Will Bankruptcy Affect My Security Clearance?

When you're facing financial difficulties, the prospect of bankruptcy can be daunting. This concern is amplified if you hold or...
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

Call For A Free Initial Consultation

813.536.4468

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 328-6667
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) 274-9155

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 492-2663

Map And Directions