Question

What is the single greatest cause of personal bankruptcy?

Answer 1

The single greatest cause of personal bankruptcy is Debt.

* If you are facing serious debt problems, filing for bankruptcy can be a powerful remedy.

* Most of people file for bankruptcy to get rid of, or get control of, their debts.

* Bankruptcy releases the bankrupt person from most of their debts and prevents creditors from seeking further payment of those debts from the bankrupt person.

NOTE - A company faces bankruptcy when it has more debt than it can pay.

Answer 2

The single greatest cause of personal bankruptcy is Debt.

* If you are facing serious debt problems, filing for bankruptcy can be a powerful remedy. ... * Bankruptcy releases the bankrupt person from most of their debts and prevents creditors from seeking further payment of those debts from the bankrupt person.

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