Obviously poor money management is the result of most bankruptcies. People just need to make better choices. Right? Unfortunately most people who file for bankruptcy are actually ok with managing their money. Medical bills are one of the top reason why people file for bankruptcy. The bankruptcy statistics in America are alarming. The past few decades have seen a dramatic rise in the number of people who are unable to pay off their debts, and Congress has recently addressed the issue with legislation that makes it harder to qualify for this status. Despite the bad reputation that bankruptcy often receives, it frequently can be the best option for your financial difficulties. It can help you in many ways, but this infographic shows the top causes of bankruptcy in more detail.