Bankruptcy Filings Increase Among the Upper-Middle Class

According to a recent study published by the Institute of Financial Literacy of bankruptcy debtors between 2006-2010, Americans earning $60,000 or more annually increased their rate of filing by more than 66%.  Historically individuals with less education and less income were more likely to file for bankruptcy, however the recent economic downturn has been a "Great Equalizer" of sorts.

If you are a high-earner who has recently suffered the loss of a job or spouse or a debilitating illness, you are not alone. Do not think that you have earned too much money in previous years to file for bankruptcy. Consult an experienced attorney at the Fears | Nachawati Law Firm for informed guidance.