People find themselves struggling with money for all kinds of unexpected reasons. It only takes a few months for a couple of late payments to snowball into a seriously stressful situation. Once you miss payments, creditors start calling. Fees start building up. You could even wind up facing a creditor's lawsuit.
For those who can no longer keep up with financial obligations, bankruptcy relief may be the best option. Filing for bankruptcy helps stop collection activity. It also gives you a chance to rebuild fresh financial start. Knowing the biggest contributing factors to bankruptcy can also help you decide if you need this kind of relief in the future.