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What are the most frequent underlying reasons for filing Chapter 7?

April 26, 2017chapter 7 filing frequent reasons underlying

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What are the most frequent underlying reasons for filing Chapter 7?

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In 2005, a Harvard Study showed that medical bills caused 50% of U.S. bankruptcies, and estimated that 2 million Americans are affected by medical bankruptcies every year. Other common causes of bankruptcy include overextended credit, marital problems and large unexpected expenses.