In a recent 2014 bankruptcy report, it was determined that the number of bankruptcies filed in 2014 were lower than the number filed in 2013. However, there were more repeat bankruptcy filers in 2014 than 2013.
The report also stated that the average monthly income of a person who filed for bankruptcy in 2014 was $2,616/month. Of the bankruptcies that failed, 54% of the failures were caused by debtors unable to make the required plan payments.
If you are thinking of filing for bankruptcy or are experiencing credit issues, contact our law office at 816-524-4949 or visit our website at www.Hoorfarlaw.com.