Why Are More And More Americans Applying For Bankruptcy? – eclwa.org

The worst-case scenario. For many Americans medical expenses constitute the primary cause of debt distress that leads to bankruptcy. Studies show that 70 percent of all bankruptcies result from problems with health, like unaffordable medical bills or lost wages. More than half a million individuals file for bankruptcy every year due to rising costs for medical treatment. One of the most common questions that asked by people is ‘ Are there any legal grounds to declare bankruptcy in the event that I own a property?’ Absolutely. Protect your home from creditors, however you should find a bankruptcy attorney within your region.

A further concern is whether I could file bankruptcy while still paying for taxes. It is not always so easy as you think, but a bankruptcy lawyer can assist when it comes to this issue. The student loan process can lead to bankruptcy, answering the question “Can student loans be declared bankrupt?” One final question is, ‘Can you claim bankruptcy on IRS credit? Sure. An attorney who is in your local area to help you navigate the bankruptcy process. Bankruptcy-related problems can threaten the security of your home or personal freedom.

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