Reasons to File Bankruptcy

What is Bankruptcy?
Bankruptcy is an option used by many people who are having difficulty repaying their debts and are looking for a fresh start. Popular reasons why people choose to file are:

• preventing personal liability for a deficiency on a home through foreclosure, short sale or deed in lieu.
• paying only the minimums on their bills
• being contacted by collections agencies
• receiving notices that their mortgage is being foreclosed upon
• recent costly medical bills
• recently lost a job
• divorce, or
• loss of a major client

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