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Reasons Most People File Bankruptcy in St Louis

General Bankruptcy Questions, Uncategorized

The top 5 reasons many are forced into bankruptcy

causes for bankruptcy in St Louis

The 5 top reasons people file bankruptcy in St Louis

When do people filing bankruptcy in St Louis? Each situation is different. While there are many reasons, there are 5 main causes that lead people to file bankruptcy. Knowing these can help you avoid some and prepare for others.

  1. Medical Expenses: Been to the doctor lately? It’s not exactly cheap. The bill afterwards is often very steep, forcing many people into default.
  2. Unemployment: The current economy has left many people without a job, which makes it hard for them to keep up with their bills.
  3. Spending too Much: Some people spend too much on credit cards or take out home and car loans that are too much for their income.
  4. Divorce: Not only does divorce cause emotional distress, but it creates added financial burdens through court costs, alimony, and child support.
  5. Unexpected disaster: Those without insurance find that they can’t pay back damages caused by natural disasters like hurricanes, floods, and fires.

The good news is that no matter what the reason for facing financial distress, bankruptcy in St Louis can help. Talk to one of our attorneys for a Free St Louis bankruptcy consultation today.

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