This is the first post in a series highlighting the top five reasons why people file bankruptcy. The March 2017 annual bankruptcy filings totaled 794,492, compared with 833,515 cases in the year ending March 2016. While there are a number of reasons why Americans file for bankruptcy, the reasons for filing can be grouped into five major categories. The fifth most common reason is unexpected expenses. Loss of property due to theft or casualty, such as earthquakes, floods or tornadoes for which the owner is not insured can force some into bankruptcy. Others may be faced with substantial car repairs or other major catastrophes which can quickly drain your bank account.
If you are considering bankruptcy as an option to address unexpected expenses, contact a Bankruptcy Attorney at 636-724-3355 or visit www.bankruptcysolo.com to schedule your no-cost consultation with a bankruptcy attorney.
Brandee D. Iannelli
St. Charles and St. Louis Bankruptcy Attorney
St. Charles and St. Louis Missouri Bankruptcy Attorney