Millions of people find themselves facing bankruptcy each year, through no fault of their own. Life crises like medical emergencies, job losses, student debt etc. can bring them to a place where they can no longer meet their financial commitments. Declaring bankruptcy is supposed to be a way to wipe that slate clean and make a fresh beginning, but it can be a very stressful experience for anyone. Relying on an experienced bankruptcy law firm can help you navigate these rough waters and achieve the best possible outcome.
Why do bankruptcies happen?
There are many reasons why people may have to declare a bankruptcy. Most people don’t have enough money saved to deal with any kind of emergency. In fact medical emergencies are a leading cause of bankruptcy in the U.S. In 2013 alone, 2 million people were forced to declare bankruptcy due to unpaid medical bills. Other kinds of debts, like student loans and home loans can also become a crushing financial burd