The top 5 reasons why people file bankruptcy in Nashville
Unfortunately, life events that are unforeseen force many into bankruptcy. These are the 5 main causes for bankruptcy in Nashville.
- Medical Expenses: Medical bills are rising due to health care costs. For more complex services and surgeries, these bills can become too high to manage.
- Unemployment: Not having a job is tough, especially when bills keep coming. Unemployment creates an unforeseen need for bankruptcy.
- Spending too Much: Some people overextend themselves into credit card debt, while others get home or car payments that become burdensome.
- Divorce: Child support, alimony, and divorce costs create financial burdens for men and women alike.
- Unexpected disaster: Earthquakes, floods, and other disasters can be devastating for those without proper insurance.
The good news is that you can prepare for or prevent most of these. Through wise financial planning, you can survive these 5 difficulties. If you are currently facing these challenges, we can help you get a fresh start with bankruptcy.
To learn more about bankruptcy, read our bankruptcy ebooks.