The best and worst cities to start over after bankruptcy
By your mid-30s, adulthood is no longer around the corner and there won’t be much change in the person you’ve become. But by that point in life, one setback from a medical emergency, job loss, or divorce can leave you facing a financial catastrophe that calls for a clean slate.
Filing for bankruptcy may be a solution to those woes without destroying your future finances, like saving for retirement. And getting away from your troubled past may help you flourish on your road to recovery.
Loan marketplace LendingTree conducted a study to determine the best cities in the U.S. to start over after bankruptcy — limiting the age group to 35-64-year-olds, to leave out those too young and old to start over. The findings are based on some of the factors that contribute to recovering from bankruptcy most, such as…
- Marital status
- Health insurance status
- School enrollment status
- State laws to protect debtors from aggressive collectors
- And the credit scores of debtors three to four years after bankruptcy
Data is sourced from the 2016 American Community Survey from Census, the National Consumer Law Center, and LendingTree’s own customer data.
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