Debt Help: Men vs. Women

An interesting study has been done regarding who will ask for debt assistance and who won't. Both sexes get into their fair share of credit trouble, but when it comes to asking for help when balances swell, it's most often women who seek help.

According to the report in the academic journal Evolutionary Psychology, "guys tend to have more debt bravado than their female counterparts and tend to put off getting help with their debt."

When debt problems reach the point of no place left to turn, women are more likely than men to take the legal route out. Among those who file for Chapter 7 bankruptcy, credit card debt is higher for men in debt than women by a few thousand dollars, the U.S. Department of Justice Trustees Office reports.

This higher debt load before pulling the bankruptcy trigger supports the theory that "men only file if they have to, in an emergency, while women look it as a solution sooner in the process."

We're very curious about your thoughts regarding this report. Putting your male or female gender favortism aside, tell us what you think. Does this report hold true in your case? Use the comment link below and sound off. Your email address will not be published with your comment, although needed to comment. We'd love to hear your opinion on this report.
 

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