Jump to Navigation

Economic downturn means waiting to have children

Young Americans who dream of parenthood may be putting off starting their families amid the poor economy. The costs of a child, purchasing a home, saving for college, along with the unanticipated costs of parenting may be too much of a burden to bear. According to a recent report, the US birthrate has fallen to its lowest point in 25 years.

For young people in Tennessee and nationwide, financial stresses may include student loan debts, medical costs, even credit card debts that accumulated during college or a job search. If you are a young person who is struggling with debt and frustrated with your prospects, you may be eligible for legal debt relief. Chapter 7 bankruptcy may give you the fresh start you need to start over, begin saving, and get on a path towards financial freedom.

Those struggling financially may be the first to put off childbirth. According to reports, the average number of births per woman fell 12% from a peak of 2.12 in 2007. Analysts project the rates to fall below 1.87 in the next two years, the lowest since 1987. It is not surprising that birth rates have clearly been impacted by the economy.

While the recession does not affect everyone equally, those who are hardest hit must make critcal financial and life decisions. For many Americans, it is a time for uncertainty and a legitimate reason to wait to have children.

If you are a young person struggling with debt, you may qualify for bankruptcy. An experienced advocate can review your income, assets, debts and help decide if bankruptcy is right for you. For millions of young Americans, debt-relief may be the first step towards financial independence and starting a new family.

No Comments

Leave a comment
Comment Information

What's Your Situation:

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Subscribe to This Blog's Feed Visit Our Bankruptcy Website

Our Office Location:

Richard Banks & Associates

393 Broad Street, N.W.
Cleveland, TN 37364-1515
Map & Directions

Phone: (423) 244-0009
Toll Free: (866) 596-8527
Fax: (423) 478-1175

FindLaw Network

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.