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05 May 2012

Colorado Springs Bankruptcy Attorneys: Tips for Single Moms

After a divorce, you become more susceptible to increasing debt, and subsequently a Colorado bankruptcy. To be sure, bankruptcy can be a blessing in disguise, as it allows you to free yourself of debts you may have accrued during your marriage, and those that piled up following your divorce.

In some cases, you could be doing everything right, and still end up in sticky financial straits. However, there are often steps you can take to minimize the impact of a divorce and the struggles of single-parenthood.


With Mother's Day fast-approaching, here are some tips for single mothers in particular:

1. Watch what you earn versus what you spend. Sometimes, single mothers avoid looking at their finances critically because they are afraid of what they will find. However, this will only lead to bigger problems down the line. Stop to take an honest look and figure out what the necessities are, versus the luxuries. If there's nothing left over for savings, some of those luxuries may have to be cut for now.

2. Get good life insurance coverage. A recent survey by the research firm LIMRA found that nearly 40 percent of single mothers said that in the event of their death, their families would be in major financial trouble. A large number said it's likely they'd only have enough to keep them afloat for a few months. Even if you have a policy through your employer, it may not be enough. It's worth it to check out rates from multiple insurers.

3. Prepare for the possibility of disability. This is particularly important for women, who may face some medical health risks that their male counterparts don't - namely, uterine cancer and pregnancy. Mounting medical bills are one of the main reasons people find themselves mired in debt.

4. If you don't have health insurance, get it. See above.

5. Make sure you have some money set aside for emergencies. Sometimes, this is going to mean some painful decisions. Things like cutting the cable or the premium cell phone plan. However, it's critical to ensuring stability and security of you and your children.

Stephen H. Swift

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

Client Testimonials

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    "My attorney (Matthew Hansen) is a very kind person.  I felt very confident in his skills. He is very knowledgeable and efficient.  He didn't make me feel embarrassed to be filing for bankruptcy.  Thank you Matthew!  Laura was very friendly, and everyone I interacted with was very nice and helpful as well." 

     

      –  Sherry M., Colorado Springs, CO

     

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    "Steve explained things well so you know what you're doing.  The staff was very helpful with everything, including the paperwork." 

     

      – Raymond & Rhonda P.,                         Colorado Springs, CO

     

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    "From the first time that I entered the office, I was treated with the utmost respect. It was like I had been knowing all of the employees for years!! Every person that I came in contact with was extremely courteous!!!

    I rate my overall experience a 12!! And I wouldn't change a thing on the website.

    Cris is absolutely wonderul!! While Alicia was extremely courteous and humorous!!!  Stephen (Swift) was extremely professional and courteous. One of the nicest gentlemen that I have Had the pleasure of working with. I can't thank him enough."
        

      – Pete, Colorado Springs, CO  

     

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    "Upon my first visit to the office, I was in an unfamiliar part of town.  I was also bewildered and experiencing anxiety.  I was not even sure I should be there or how to proceed in a very new situation where my back was against a wall.  The first person I met in the office was the lovely receptionist.  I have to say that she has the absolutely right demeanor and is extremely successful in her position.  She has a slight but comforting smile and persona.  She is confident but not arrogant in processing the needs of clients.  I do not feel that this is a small achievement in any way.  I feel this person in many ways sets the tone for the office as the gate keeper of the office and emotional clients.  She definitely helped me thru this process with her silent and dedicated service to me, the clients and the office."

     

    John C., Colorado Springs, CO

     

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    "Upon entering Steve's office, one immediately knows they have entered his "zone".  Steve will talk, think, contemplate, then act.  He then spins his chair around, garbs paper, types on the computer and zaps something thru the printer.  Occasionally, a document needs to be scanned or something else from outside the office is needed, and Zap someone appears without having to yell down a hall or call out.  There is definitely a team here that is in sync.  There may be a question out of the blue suddenly or a brief conversation about something else.  The whole time, Steve is on point.  I felt from day one, a trustworthy confidence in placing my future in his hands.  I was not wrong.  I also never once felt rushed, brushed off or that my concerns were not his.  I felt that Steve is in this for me and his clients.  I have a debt, gratitude and confidence in Steve and the Swift team that far exceeds the fees pain." 

     

      – John C., Colorado Springs, CO

     

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    "Thank you to everyone who worked on my case.  My driving priviledges are now restored and I have a fresh start.  I am very grateful to the Swift Law Firm!   Everyone was very kind and helpful and easy to talk to.

    Ward was very knowledgeable and knows the pros and cons of your case. Definitely a man to listen to concerning your case, and he was very helpful!

    Matt Hansen is a good man, very helpful, gives good advice  AND he is willing to go the extra mile.  Steve Swift is a man of action who knows his profession.  He lifted a heavy burden, and I cannot thank him enough for an excellent job!"  

     

      - Henry R., Colorado Springs, CO  

     

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