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  • "Valerie went way above & beyond to be helpful and make sure everything was clear.  She's a real spitfire!  Steve & Patti were very professional. Thank you for completing my bankruptcy!  I know it wasn't an easy one." 
             – Ken H., Woodland Park, CO 12.28.13

  • “Patti was so sweet and helpful. And that Valerie...as soon as she heard about my garnishment, she got things moving quickly.  She's quite a go-getter!  My attorney, Mr. Stratman made this process seem very simple, and he was very helpful. ” 
                   – Karie & Glen,  Colorado Springs, CO  05/17/14

  • "I love you Patti!  You mad the process doable for me. And Steve, you were fantastic!  You worked with me and educated me when no one else did.  I enjoyed your leve of professionalism " 
         – JoAnn S.,Highlands Ranch, CO   05.18.14

  • " I love Valerie! She's so friendly with a great attitude...and very helpful.  It was so nice to have someone like Mr. Swift that was so experienced in all areas. " 
            – Jessica W.,  Colorado Springs , CO   05.12.14

  • "Stephen Swift is a wonderful and awesome man.  I will remember him in the future! :)  Both Patti & Valerie are wonderful ladies to talk to.  I rate this place a 10.  I would recommend them to anyone else I knew who was in my situation. "  – Connie L, Colorado Springs  6.26.14

  • "What can I say about Mr. Swift? He is the greatest.  A fighter for the client! Cris was a "jack of all trades"...an excellent listener, and she answers questions promptly.  Patti & Valerie were both very friendly and knowlegeable. I rate my experience with this firm a 10!" 
          – Coleen S,  Colorado Springs  4.29.15

  • "Everyone was very knowledgeable, organized and friendly!  We learned a lot from Mr. Swift.  Our case went very smooth, and it was filed quickly.  We appreciate that!" 
       – Francisco & Rebecca, Colorado Springs 03.19.15

  • "Everyone I came into contact with at Swift Law Firm was friendly and professional.  They also went above & beyond inbeing helpful!"  – Christopher, Colorado Springs  03.23.15

  • " Mr. Swift, not only did you work to get us a home during our bankruptcy, you also got our bankruptcy from 5 years to under 3 years.  Amazing! Thank you for looking at our case.  We are so grateful!   " 
                –Nicole W.,  Canon City, Colorado  09.14.14

  • " Great service!  Staff is extremely helpful & attentive!  I highly recommend Swift Law Firm to anyone needing bankruptcy service/advice. Patti & Cris were always professional and courteous and a pleasure to talk to.  Mr. Swift is an excellent attorney.  He is very knowledgeable about bankruptcy law and how it pertains to each individual. Great to work with.  Thank you Patti, Cris & Steve!  "    –Tonya  H.,  Colorado Springs, CO   09.08.14

  • " Your law firm is the best, and I can't thank you enough for being willing to go above and beyond to help me with my financial situation! Patti is always so nice, and Mr. Swift is AWESOME!  " 
          –Denise L. , Colorado Springs, CO  07.24.14

  • " Dearest Mr. Swift & staff, I just wanted to say thank you very much.  You all have been wonderful!  Bless you for doing your jobs with honesty and integrity.  Hard qualities to find these days! Especially in attorneys.  You are the best!  I will keep in touch, just to pester you.  Ha Ha  –Yolanda S.,  La Veta, Colorado  11.01.14

  • " Very nice people to work with! I would recommend them to anyone I know that was in my situation. Mr. Swift is very friendly, and he made us feel very comfortable.  Thank you! "  –Brenda H., Colorado Springs, CO 12.03.14

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    “I would rate my overall experience at the firm as a ten!  Patti was very nice & helpful, and Valerie was very knowledgeable!  They    gave me multiple options for my situation and helpful email reminders.  My attorney, Jon Stratman was very kind and gave me helpful guidance throughout the process.”   – anonymous




  • "Anyone looking for a highly respected bankruptcy lawyer, I definitely recommend Stephen H. Swift Law Firm. Everyone there is so friendly and so helpful. They make it easy to pay for your bankruptcy and are pretty affordable. My reason for highly recommending them is because they go above and beyond for you. They are very sympathetic with the situation you are in. They always have your back. Especially one person in-particular on her day off, will call and handle any creditor that is harassing you. My bankruptcy has been filed and discharged for almost a little over a year now and I will get a phone call every once in a while and I just call them and they take care of it at no cost to me. Valerie, Patty and Stephen I am and always will be grateful for you. Thank you again for all you've done. I love Stephen H. Swift Law Firm.  " 
         – Kathy Garcia., Burlington, CO   09.10.15

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28 Apr 2014

Are Single People More Vulnerable to Bankruptcy?

It should come as no surprise to learn that singles are less affluent compared to other family structures. According to recent research by the MetLife Mature Market Institute, singles reported the lowest income levels (averaging $32,000), the lowest asset levels ($110,000) and the lowest rates of homeownership (43 percent). A surprisingly low 17 percent said they were on track to reach their retirement savings goals and 20 percent hadn't even started saving. The biggest worries for singles were affording their living expenses and maintaining their standard of living in retirement.



Most of the financial stress originates from relying on one income instead of two. This makes singles more vulnerable than couples who enjoy double earnings. Additionally, singles tend to earn less money and have lower education levels than their married peers, whether they have children or not. The study also reported that singles between the ages of 45 and 80 were less likely to have taken steps to pay off debt than married couples of the same age.

Changing demographics raise economic concerns

The MetLife study comes at a time when the country's demographics have already shifted in favor of single-person households. In fact, the U.S Census Bureau reported that single-earner households had grown to 31 million as of 2010, a 15 percent increase over the previous ten years. Meanwhile, traditional husband-wife households are on the decline, making up less than half of all households in America. If singles continue to be financially insecure, this trend could prove to be troubling for the economy.

Of course there are always individuals that buck the trends and find a way to make single life sound better. Eleanore Wells, a singles expert and author of "The Spinsterlicious Life," said it is far easier for her to save for retirement, because her money is her own and she can spend it how she wants to. Wells isn't the only one who feels this way. Many divorcees say they are better off single than they were as a couple, especially if their partner was less financially responsible.

Are singles more likely to declare bankruptcy?

Single people face more financial stresses than couples, but bankruptcy is usually caused by major economic stresses, such as a lost home, lower wages or unemployment. Any significant financial strain is likely to result in bankruptcy, but it's even harder to dig out of debt when you're facing it alone.

Singles are also less likely to seek the advice of a financial counselor, and less likely to save for retirement. The MetLife study found that couples were far more likely than their single counterparts to pay off debt or have met with a professional to help them map out their finances.

All of this stress on singles ultimately results in a higher rate of Colorado bankruptcy filings for single-headed households. But there is a bright side of bankruptcy; it can give you a fresh start and a clean financial slate. A successful bankruptcy is unrivaled in terms of the freedom it offers. One of the benefits of being single during the bankruptcy process is that you won't have to worry about jointly-held debts, as is often the concern with couples or recently-separated individuals.

A consultation with a Colorado Springs bankruptcy attorney will help you determine if bankruptcy is the right solution for your debt problems.  Many people try debt counseling first, or a debt consolidation loan.  An attorney specializing in bankruptcy can advise you on the best course of action. 

 

Stephen H. Swift

Managing Attorney
Law Office of Stephen H. Swift, P.C.

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