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THE TEN TOP REASONS PEOPLE GO BANKRUPT

September 5, 2017

The top two may seem may seem obvious but as you dig behind the causes of those two situations you will find that many of the other causes interplay. In any event although listed numerically, except for the first two, these are not necessarily in prior order.

1. Low Income
2. Excess of Debt
3. Marital Breakdown 4. Loss of Employment
5. Small Business Failure
6. Aggressive Tax Laws – (High Taxes)
7. High Costs of Education (Student Loans)
8. Poor Health
9. Irresponsible Lending – (Exploitative Practices)
10. Legal Actions – (Wage Garnishees)