Causes of Bankruptcy

by DeLadurantey Law Office, LLC on December 18, 2013

Causes of BankruptcyThe economy in the past few years has caused financial struggles for many people. While no two bankruptcy filings are the same, many cases are filed for similar reasons. Some of the common circumstances that lead to a bankruptcy filing include:

  • Loss of employment. When you lose your job or your salary is significantly reduced, it can cause severe financial troubles. Even if your family cuts back on spending, it may not be enough. When you can no longer make ends meet, bankruptcy may be the answer.
  • Medical costs. When you experience a major health issue, your medical bills can be overwhelming. A surgery, an extended hospital stay or certain medical treatments can be extremely costly, even with insurance. By filing a Chapter 7 or Chapter 13 case, you can eliminate the majority, if not all, of your medical bills.
  • Divorce. When a couple divorces, it can negatively impact their finances. The debt can be overwhelming. As a newly single person, bankruptcy can offer a means for getting back on your feet financially.
  • Foreclosure. If you have fallen behind on your mortgage payments and a foreclosure action is pending, a bankruptcy filing can buy you more time in your house and give you more time to deal with your past due amounts.

If you are facing any of the above circumstances, or any other difficult financial situation, you should consider filing a Chapter 7 or Chapter 13 bankruptcy case. The legal team at DeLadurantey Law Office, LLC can help you determine how bankruptcy can benefit you.

The “defender of the little guy,” DeLadurantey Law Office. LLC. handles bankruptcy matters (Chapter 7 and Chapter 13) in Milwaukee, South Milwaukee, West Milwaukee, and Milwaukee County, including the municipalities of Bayside, Brown Deer, Cudahy, Fox Point, Franklin, Glendale, Greendale, Greenfield, Hales Corners, Oak Creek, River Hills, Shorewood, St. Francis, Wauwatosa, West Allis, and Whitefish Bay.  The firm also can handle your debt negotiations, debt relief, and mortgage loan modifications.   Contact DeLadurantey Law Office, LLC by phone: (414) 377-0518.  Like us on Facebook.

 

 

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