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  Home > Bankruptcy Resources > Who Declares Bankruptcy?  

 

Who Declares Bankruptcy?

 
 

All sorts of people from a broad spectrum of professions declare bankruptcy. Typical causes include; divorce, a change in income levels, and medical emergencies and/or ongoing medical conditions.

It may seem surprising, but many people who must declare bankruptcy come from professional backgrounds and earn a good income. Financial problems are often caused by the fact that as our income increases, our debt load also increases. When something happens that affects our earning ability or increases the cost of living, it doesn’t take long for a debt load to become unserviceable.
 



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