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Your personal finances are affected by many factors, including paying for higher education, medical bills and job loss. Divorce can also put immense strain on your bank account. These factors overwhelm hundreds of thousands of Americans every year, causing them to file for bankruptcy.
Chapter 7 and Chapter 13 bankruptcy are legal processes in which people unable to pay off their debt can start fresh and begin saving for their future again. Americans from coast to coast file for bankruptcy, but some states are more prone to residents facing financial hardships and resorting to bankruptcy.
