The top 5 reasons why people file bankruptcy in Salt Lake City
There are many reasons that people file bankruptcy in Salt Lake City. Bankruptcy becomes the best option for many people as they face financial hardship. These are the 5 main reasons people file.
- Medical Expenses: With most medical bills in the thousands of dollars, it is no surprise that medical expenses are the #1 reason for bankruptcy.
- Unemployment: With a down economy, joblessness has forced many people into bankruptcy.
- Spending too Much: With high credit card debt, home payments, and car loans, overspending frequently leads to bankruptcy.
- Divorce: Divorce brings financial hardship with court costs, alimony, and child support.
- Unexpected disaster: Hurricanes, floods, and other calamities bring financial difficulty to those that are uninsured for such disasters.
If you are facing these difficulties in your life, be confident that bankruptcy can help. That is what it is here for, to help debtors get a fresh start in life.
To learn more about bankruptcy, read our bankruptcy Ebook.