At least according to Women’s Personal Finance.net, “The myths and the madness behind the realities of bankruptcy…can sometimes have more wrong information than the only hair stylist in town.”

I’m certainly no expert on women’s hairstyles or hairstylists, but, as an Indiana bankruptcy attorney, I’ve always known that women often bear the brunt of a financial crisis.  That’s why, as part of offering bankruptcy information in Indiana through my Indiana bankruptcy blog and the four Mark Zuckerberg bankruptcy law offices around Indiana, I devote special attention to helping women file personal bankruptcy in Indiana and to helping women take advantage of the fresh financial start bankruptcy can offer.

As the Women’s Personal Finance website is careful to explain, filing bankruptcy doesn’t “erase” a woman’s credit record. Even after debts have been “discharged” or forgiven by the Indiana bankruptcy court, the debts will remain on the credit report, but the balance from each creditor will be changed to zero.  (What that does is stop additional negative marks from being added, but late payments in the past remain on the record, even though the balances due are eliminated.)

The Consumer Federation of America estimates that single women comprise almost 40% of bankruptcy filers.  USA Today agrees, stating that “Recession Can Hit Hard in Families Headed by Women” (May/4/09 issue).

My own experience bears this out, and I’ve found that women need to protect their own welfare and the welfare of their children. Often a woman-to-woman talk with one of the female professionals in my bankruptcy law offices is the start of hope for clients who’d been given a lot of incorrect information about their options.

One of my favorite sayings, one that women, in particular, seem to appreciate, is “Bankruptcy comes in cans.”  Women need to understand that, even though bankruptcy is not what they might have envisioned as being part of their lives, there are many, many advantages in using the Indiana bankruptcy help our laws have provided to:

  • stop repossessions
  • stop foreclosure on a home
  • stop creditors from harassing them and their family members
  • wipe out credit card debts
  • stop wage garnishment
  • get rid of back taxes

As a board-certified consumer bankruptcy specialist, one of only a dozen in our state, I don’t know a thing about women’s hairdressing or hairdressers.  I do know a lot about being an Indiana lawyer for bankruptcy for women!

 

 

 

 

 

 

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