What are the most common reasons for a Knoxville resident to file bankruptcy?
There are several common reasons for one to file for bankruptcy. Excessive amounts of credit card debt, pending foreclosure, being sued by a creditor, threatened vehicle repossession, an unpredictable large expense of some sort, unemployment, divorce, or inability to pay off high medical bill balances (which is a widespread problem in our country, as over 50% of all bankruptcies in the U.S. are caused by medical bills).
