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The 4 most common causes of personal bankruptcy

No one is exempt from losing a job, developing a medical condition that requires serious care or getting a costly divorce. Unfortunately, many people find themselves in situations that cause debt to rise even as they cannot pay it down. Spending irresponsibly is not the only reason that people get in over their heads with debt. Bankruptcy can be a valuable option on the way to a fresh financial start, and you may need to consider it if you are dealing with any of the following.