- 03
- June
2011
This is the first blog by Oliver B. Pollak.
According to Pacer I have assisted Nebraskans and Iowans file about 4,060 cases since 1984. My partner, David G. Hicks, and our associates in the firm have filed several thousand more. This rescue process represents millions of dollars of savings for our clients, and risk distribution based losses for creditors.
This over 25-year experience has taught me that there are a lot of people in a world of hurt. Who are these people? What are the demographics of people taking the not so lonely road to bankruptcy and the fresh start.
In 1994 anecdotal evidence indicated that more women were filing bankruptcy then men. I funded an investigation that revealed that the turning point during the mid-1990's. Before that more men filed, after that, more women filed. These findings were published in the Commercial Law Journal (vol 102, Fall 1997, 333-38) made front page news in USA Today, and were the subject of a Congressional Committee hearing.
In April 2011 I sampled 200 of our cases for gender and age. The results indicate the broad impact of loss of employment, outsourcing, illness, disability, divorce, business failure, single parenthood, loss of spouse, under employment, which may lead to mortgage foreclosure, vehicle repossession, law suits, garnishment and harassment.
These stories can be partially reduced to statistics.
It would appear that the most vulnerable are in the age group 36 to 45, where growing and broken families, and disappointments are most prevalent.
Best wishes,
Debt Busters
