Bankruptcy is a topic that can be very private for many people. Feelings of embarrassment or shame are not uncommon. The thing is, debt is a problem that thousands of Americans face every year, and filing for bankruptcy is a constitutional right.

If you are struggling to pay your bills, you are not alone. Furthermore, there is no reason to be ashamed. Reasons for filing for bankruptcy can vary. With that said, there are some common factors.

1. Getting hurt or sick

Many people know how expensive it is to go to the doctor, but you may not have realized just how expensive. As it turns out, hospital bills and other medical expenses are the number one reason individuals face debt.

2. Losing a job

As another situation that is often outside of people’s control, job loss is the second most common reason for going bankrupt. When people unexpectedly lose a primary source of income, it can prevent them from affording the cost of living.

3. Poor budgeting or excessively using credit

Another reason people end up filing for bankruptcy is due to poor budgeting habits or excessive spending. If this sounds familiar, there is no judgment here. Countless individuals have been in your shoes before. The best thing to do is to consider it a learning experience.

4. Going through a separation or divorce

When marriages end, it does not just mean two people separate: Two incomes do, too. As such, this is the fourth top reason that individuals encounter significant debts that they cannot repay. Additionally, bankruptcy is one way for people to start over in a new chapter of their lives.

At the end of the day, people face bankruptcy for many reasons. What matters most is that all of them have the right to file.