Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709
${site.data.firmName}${SEMFirmNameAlt}

Bankruptcy comes early for many college students

Many Wisconsin residents in their early 20s, including college students, find themselves deeply in credit card debt thanks to impulsive choices due to lack of financial experience and easy access to credit. According to a study by the International Journal of Business and Social Science, half of college students in the United States have four or more credit cards. This can cause them to end up with enormous debt, financial troubles and poor credit scores.

One woman who recently shared her story racked up more than $20,000 in credit card debt in college. She received her first credit card as a freshman. Four years later, she had four credit cards and was deeply in debt. According to the story, she admits that she had problems understanding the way that her debt added up over time.

To restore her finances, she filed for bankruptcy at the age of 23. While her parents discouraged her from doing so, she believes she made the right choice. She was able to start over with a clean slate and said that she is now following her dreams and furthering her career instead of living with her parents.

When Wisconsin residents end up with large amounts of debt from credit cards and other sources, they may feel like they have no options. However, people in these situations may be able to benefit from speaking with a bankruptcy attorney because an experienced attorney could help people understand what is covered by filing for bankruptcy and what is involved in the process. This may help people better understand their choices and make the right decisions based on their circumstances.


Source: Huffington Post, "Bankrupt at 23: College Grad's Financial Ruin and Rebound," Feb. 11, 2013

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6001 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.