There are many causes for bankruptcy. Some of the most common are medical bills, divorce, separation, death, unemployment, and underemployment. With interest rates, late fees, and penalties also driving many people to file bankruptcy even without one of those common causes just mentioned. A typical medical emergency can cost anywhere from $10,000 to $100,000. Insurance companies routinely deny coverage based on, often time, made up allegations such as pre existing conditions, when in reality there were none.
For more information on what causes bankruptcy, contact our law firm, Rashid Law Firm, at 832-209-8833 for free consultation.