Common Reasons for Filing Chapter 7

The vast majority of Chapter 7 bankruptcy clients are good people who have simply fallen into difficult financial situations for a variety of reasons. Some clients are curious about the most common reasons to file for bankruptcy to see how their circumstances match with others’, and it’s important to remember that you are never alone if you are struggling with debt.While the law does not require you to provide a specific reason for filing for bankruptcy, here are the most common reasons for filing in the state of Illinois:- Unexpected expenses;- Illness;- Failed business;- Divorce/separation;- Lost job/unemployment.When the unexpected happens, some people face the possibility of never recuperating financially and becoming permanently indebted to corporations or the government. Fortunately, Chapter 7 bankruptcy offers clients the opportunity to eliminate forms of unsecured debt and have a new financial start. You need not fear that you’ll be in debt for the rest of your life, and with the help of a bankruptcy attorney, many clients are able to start fresh and rebuild their finances.If you are struggling financially and considering filing for Chapter 7 bankruptcy, you’re not alone. Contact an experienced Chapter 7 bankruptcy attorney today for a free consultation.