Everyone knows that most divorces take a large emotional toll. But what about a financial toll? Most people don’t realize this aspect until they experience it firsthand. Divorce can cost you thousands of dollars upfront and exact an even larger amount of money over the course of the next several years.
Unfortunately, newly single moms often take the largest financial hit in the aftermath of a divorce. The change in finances often leads single moms to file for bankruptcy a few years after divorce.
In our blog below, we’ll talk about why many single mothers have to file for bankruptcy. We’ll discuss the warning signs of an imminent bankruptcy, then talk about why filing for bankruptcy might help, rather than hurt, your financial future.