Helping Good People Get Out Of Bad Situations

Financial challenges for divorcing women

On Behalf of developers | September 21, 2018 | Chapter 7 Bankruptcy

If you are a woman in Mississippi facing an impending divorce, in the midst of a divorce or even already divorced, you may find yourself in a difficult financial situation that you never before imagined. There may be many reasons for this including the fact that you and your partner or former partner now must support two households on the same income that previously supported only one household.

Forbes explains that women often end up surprised by some of the lingering financial effects they face due to divorce. Results of a survey about women’s experience through divorce conducted by Worthy were recently published. These results showed that nearly half of all women polled were surprised about the reality of their financial status due to divorce.

One of the factors influencing this surprise is their shock when they learn the true value of their marital estate. This value is too often much less than women believed to be the case. Assets may be worth less than believed but there may also be debts that they were unaware of. This can leave a woman in need of serious debt relief which might even include bankruptcy. Care is required when assessing a newly divorced financial picture and one’s options going forward.

If you would like to learn more about how a divorce can lead to serious financial issues that require women to take active steps to get out of debt, please feel free to visit the divorce and debt relief options page of our Mississippi bankruptcy website.

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