In 2010, more than 1.5 million Americans filed bankruptcy

More and more companies are forced to make drastic cut backs to the largest of all business expenses an employer has: payroll. Payroll and benefits for employees are two of the areas that even long established businesses, companies and even corporations are being forced to make reductions to stay afloat in these challenging economic times. This leaves the employees affected with substantial new medical expenses and often less salary to pay for those new costs.

Loans taken out to pay tax bills are nondischargeable in bankruptcy.

If you gambled with credit cards to try and win big to get out of debt, your debts might possibly be dischargeable.