The mystery isn’t why so many people file for bankruptcy each year. It’s why more people don’t. Each year, only a fraction of the Americans who could benefit financially from bankruptcy actually seek relief. Economists say some don’t file because collectors aren’t aggressively pursuing them, while others may strategically delay filing because bankruptcy could benefit…

Liz Weston is a writer at NerdWallet. Email: Twitter: @lizweston.

The article Fear of Bankruptcy Holds Too Many People Back originally appeared on NerdWallet.

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