Some people do everything right and still have to seek protection in the bankruptcy laws. But the biggest factor that has lead to filing bankruptcy is the easy availability of credit. For the last twenty years, credit card use has increased as creditors made it easier and easier to get credit, and higher credit amounts.
In addition to the easy availability of credit, rising unemployment and increased cost of medical care has caused bankruptcy filings to rise. Unfortunately many Americans are unable to afford medical insurance and as a result they are unable to pay their medical bills. Credit card bills and medical bills account for about 90% of the debt that people claim in bankruptcy.
Rather than seek help early, people borrow getting deeper in debt until the only option available is bankruptcy. If you are in that situation, you are not alone. Call us or e-mail us, we can help. That’s what we are here for, and that’s what we do.