Understanding the Bankruptcy Process
Deciding whether or not to file for bankruptcy is an arduous decision. American Consumer Credit Counseling is here to assist, and this infographic outlines the steps during the bankruptcy process.
Though bankruptcy filings declined nationwide in 2012, bankruptcy still remains a top concern for many consumers who are still struggling to recover from the recession. Currently, medical bills are the leading cause of bankruptcies, representing 37 percent of all filings. Of those, 78 percent had health insurance. Furthermore, many will be surprised to know that a quarter of bankruptcy filings come from households with an annual income of $60,000 or more.
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