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Why do people file for bankruptcy?

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Published in Daily Trivia

In a 1996 poll, the top reason for filing for bankruptcy, as cited by 29 percent, is that filers are "over-extended." Only 15 percent of bankruptcy filers cited job problems, and only 17 percent cited health problems. Divorce accounted for 12 percent of filings. Six percent simply said they couldn't stand bill collectors.

 


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