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Women Filing Bankruptcy
Over the last 20 years, women have filed
bankruptcy
in greater numbers in relation to men, and in greater numbers in
relation to joint filings. Is this because of divorce? Hard to say.
| The source for this chart is small -- it covers
only the state of Nebraska. The researcher, Oliver B. Pollak, analyzed
consumer bankruptcy filings in Nebraska in 1977, 1987, and 1997 for the
Commercial Law League of America. Every indication I have is that his findings
are typical of what's happening in other states as well. |
 |
This means that the percentage of women filing
bankruptcy petitions has almost tripled during the last 20 years. During
that same period, the percentage of men's petitions dropped by 20% and
the percentage of joint petitions dropped 26%.
One last thought about all this. Please don't
read this as saying that there are fewer men filing bankruptcy and fewer
joint filings. To the contrary. The raw numbers of bankruptcies have
more
than tripled during this same period. If you were so bold as to interpolate
the Nebraska results nationwide, you would estimate that the raw number
of men filing bankruptcy increased from about 100,000 in 1977 to
240,000 in 1997, an increase of 140%. In a similar way, although joint
filings have declined dramatically in percentage terms, you would estimate
that they have actually increased in raw numbers, from 165,000 to 365,000,
an increase of more than 120%
Now if you really want to explore the limits of the
numbers, take a look at the change in the raw number of women filing bankruptcy
during this same period. Again, making the dangerous decision to interpolate
Nebraska percentage nationwide, you would estimate that the number of women
filing bankruptcy has increased from 33,000 or so up to 290,000, an increase
of more than 750%.
Is this related to divorce? It certainly has to be
counted as one of the factors, but not the only factor. The divorce rate
hasn't increased nearly so dramatically. My guess (and it's only a guess,
so please hear it with that in mind), is that it's a combination of divorce,
a change in the workplace expectations of women, an increase in the incidence
of single parent families, a change in the ability and inclination of women
to take on debt, and of course a huge increase in our willingness as individuals
to use bankruptcy protection. |
