Bankruptcy often has a negative connotation associated with it. However, having a healthy financial outlook can do wonders not just for your wallet, but for you overall health. Keep reading below for some of the lesser known benefits of filing chapter 13 bankruptcy in Kansas City.
What Finances Mean To Your Health
Looking at all the self-help books online and seeing things about eat better, exercise more, don’t drink alcohol, don’t smoke and get better sleep are the main focal point to a better life. However, did you know that being out of debt is proven for peopole to live a healthier, happier and longer life?
Bankruptcy might be a stressful thought, but the fact of ther matter is, those who file chapter 13 bankruptcy in Kansas City and clean up their financial situation are happier, not to mention healther.
Increase Annual Earnings and Decrease Mortality AND Foreclosure Rate
In a report by the National Bureau of Economic Research shows that winning approval for a Chapter 13 bankruptcy increases annual earnings by $5,562, decreases five-year mortality by 1.2%, and decreases five-year foreclosure rates by 19.1%. That report is based on an examination of some 500,000 bankruptcy cases filed in the United States.
Bankruptcy protection helps workers earn more by eliminating primary financial disadvantage to work on wage garnishment by creditors according to economist Will Dobbie and Jae Song. Chapter 13 bankruptcy in Kansas City is designed for people to avoid things like a foreclosure. This greatly reduces stress in their life. Dobbie and Song say that with the less stress in a person’s life, the longer life they live.
Contact Our Kansas City Bankruptcy Attorneys to Get Started ona a Healthier, Happier Life Today!
If you find yourself wondering what life after bankruptcy would be like without all the debt hanging over your head, contact our team online or give us a call at 816-842-6200 to schedule a free, no-cost case review with our Kansas City bankruptcy attorneys.